How Do Price Changes Affect Consumer Perceptions?
By Kara FinnertyJun 1
Our product marketing team recently did some analysis into how our happiest customers behave when using Brandwatch Consumer Research.
To do this, they looked at Brandwatch customers that give a 9 or a 10 Net Promoter Score, and then analyzed the features they used most.
The winner by a mile? Iris.
Brandwatch’s AI assistant is just a year old, but it’s clearly made a dramatic impact on how people use our flagship platform Consumer Research.
Iris takes the pain out of data analysis. It automatically analyzes all of your data and identifies the reasons why conversation has increased.
Here’s a quick intro:
All Brandwatch Consumer Research users have access to Iris at no extra cost.
When you’re looking at a graph showing mention volumes over time, you can just hit the Iris button and the AI assistant will start working. In a few moments it’ll show you what’s behind the peaks in your data.
Whether it’s a trending Reddit article, important Facebook thread, or a breaking news story, you’ll be able to find out fast what’s driving the uptick in conversation.
We asked Ben Ellis, Senior Research Consultant at Brandwatch (previously heading up up social listening at BT, Microsoft, Groupon and We Are Social), what he thought of Iris and what it can do.
He’s a big fan of the time saving aspects:
“In a typical week, your brand, products, campaigns and competitors will generate 20 major peaks. I’d say an analyst spends around 3 hours and 20 minutes conducting this analysis – in other words, a whole morning. Iris would take less than two seconds to conduct the same analysis. Iris is much faster than human analysis, providing arguably more reliable results.”
The tool can also spot insights that were previously invisible, since not all analysts have the time to look at many days’ worth of data manually. Ben says: “Iris highlights these anomalies for you by constantly comparing to historical data. It keeps you aware of all the important insights around your brand.”
The third biggest appeal for him is the value of a second opinion, even when analysts prefer to get into the data themselves:
“There’s no harm in checking that against Iris. A second opinion could help solidify their insight or make them aware of something they didn’t see before. Iris provides expert users with a crucial second opinion, to make their insights even more reliable.”
In 2019, Brandwatch put together a report entitled ‘101 times brands went viral in 2019’.
We tracked nearly a billion brand-related posts across the year, and then used to identify what trends were behind the biggest spikes in conversation.
Without Iris, to produce this report we’d have to manually check each of the spikes and make estimated guesses based on what we saw in the mentions to determine what was behind the conversation spikes. With Iris, that information was available with just a few clicks.
All that was left to do was write up the report!
If you’re a customer, drop your Customer Success Manager a line to ask about how Iris can help you save time.
The team are constantly working on tweaks and improvements to Iris, so you can expect to see it in more areas across the app soon.
If you’re new to Brandwatch, get in touch below to chat to an expert.