There has been much buzz around the internet about how Twitter buzz and sentiment can be used to predict Box Office takings. Now, researchers at Hewlett Packard have confirmed that:
“…the rate at which messages were produced could be used to accurately predict the box office takings before the film opened. Further analysis of the content of the messages could predict ongoing success.”
Have you analysed buzz and sentiment about your organisation to help inform you of the public perception of your customer experience, and how this word of mouth could predict the success of your product or service?
“Word of mouth builds audience,” said Jan Saxton, vice president and senior films analyst at Adams Media Research…If word of mouth becomes a faster, more effective marketing tool, then the effect on the movie business could be profound.”
You can use free tools such as Twendz to investigate the conversation on Twitter surrounding your brand. Do you know of any other free tools? We’d love to hear in the comments
Read the original article here
You raised an interesting topic, Colin. About a year ago we researched social media monitoring tools and I had a chance to talk to several of their CEOs. I learned that several of the companies based their business on sentiment analytics tools created for the top stock broker. Those brokers analyzed market sentiments to predict the development of the shares they are going to sell or buy.
Now box office prediction is obviously an interesting one as the movie industry will change. Those billion $ 3D super movies need a different class of investors – and will find them. Predicting box office development is an after the fact process to see if it goes right or wrong. But to invest even before the move gets produced… is very interesting – and you can read in about 25 Million comments what people like, hope, hate, expect….
Now translate this into your ordinary – even Small – business and you can complete the graph.
So in my opinion YES – twitter can predict your customer experience development. We track it daily and compare it with others. It is very helpful to see the dynamics and leverage the information.
Axel
http://xeesm.com/AxelS