Does Your Brand  Have a Purpose

And  every time you say to build a brand  you need money spent  in  marketing and  advertising – I will say that’s  not enough. Brand without   purpose is like a person without principals, ideals or  personality and it’s  just fitting they go together because alone they makes little sense.

Incidentally small business can also give it a shot. A purpose driven brand is guided by core value proposition, characteristics identifying a business. And even without pots of money bet on it, and just by passionately promoting ideals and core values is the key to building a brand for your small home based business. It does not necessarily involve whole lot of resources- just smart and judicious usage of the few you have access to. SO you should know what to invest and how.

  1.   What product or service should you invest in? Which are the ones, that’s contributing more towards sales. Changes in revenue percentages can signal not only changes in customer spending habits but also broader trends in your industry and market. Changes in the contribution percentage each makes can indicate problems are ahead. The measuring year for this factor is called Revenue Percentage. It measures contribution of revenue from each of the different sources of income in your business- products, service, subcontracting etc.

RP =            Revenue from product A or Service B in a month X 100

Total revenue for your business in that month

2. How to invest : Create the right Brand image online.

A group of metric together measures performance of the entire social media plan. These metrics are together called Virality. So if creating brand image online is your final business goal then the measuring yard to use and check how far you have progressed in your endeavors  is Virality.

So, for your brand name or brand keywords it can tell –

  • > How much are people talking about it?
  • > What is the reach of your influence?
  • > What is the average sentiment you’ve generated- good, bad or neutral?

One tool that can be used as a measuring yard is: www.socialmentions.com

SO with business goals to create a  brand around purpose, a  brand  that  breathes the core  identity of  your  business, that represents  the  core values you need  to use a  cost  effective  media , virulently but  before  that you must know which or  what  services / product  will generate  maximum return on your  investments.

About Hedgehog Insights– We are data analytics service provider . We offer analysis of business data. Be it daily operations, cash flows, website data or ones from social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are sellingis a promise that our analysts will offermodern and conventional analytics , work with you and help you see hidden opportunities from your business data.Schedule a free consultation

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Can Social Media tell Go-No Go for your business idea?

Sentiment Analysis for startups- Hedgehog Insights

Sentiments people associate with a business launch , new idea or information, cumulatively gives an idea whether it would be a hit or a miss.

Can you recall a time when your mom called, may be a routine call. You received, said hello and was just about to start speaking something else, when she interrupts and says words that feel like warm comforting hugs. Admit, she knows it before you say. She knows what’s wrong, how wrong or how happy and thrilled you are. You’ll say that’s your mom – who better knows you or is more concerned about your feelings, your sentiments or thoughts that occupy your mind. True that!

But they are not the only group of people who care how others feel- deeply mindful about their needs, wants and demands. It may not be as selfless or without a motivation or incentive like our mothers- but sure it could be just as strong, or even more in some groups. For example a business and its customers. Haven’t we been taught all our lives- customer is king. Hell ya. Customer satisfaction, their buying intentions, their opinions and perceptions do matter specially when it is a new service launch, expansion in a new geography or buying a massively expensive equipment to increase productivity. Where there is an investment there is also a risk of loosing it. Businesses cannot let it go without a bit of an analysis or some predictive insights. They need a prior understanding of just how big will the return be and how quickly will it come through, if at all.

With the emergence of social media in internet marketing, this information is available in abundance and capturing is simple. It’s like trying to predict what could be the polarity of reactions to a new business move – positive, negative or neutral – novel form of data analysis around social media. It is called Sentiment analysis of target market. Similar to market research that is done offline by questioning and surveying, sentiment analysis helps add a meaning to all the special media engagement activity your company conducts. Tying it back to meet a business requirement- perception or sentiment of customer spells out chances of acceptability of an idea and thereby chances of success

We at Hedgehog Insights, run sentiment analysis. If you have an idea and would like to validate it, gauge the level of excitement or anticipation among your audience, try us. We will be there to help you. We employ both applications and manual modeling methods to bring out the most accurate analysis. Contact us and let us know.

About Hedgehog Insights– We are data analytics service provider . We offer analysis of business data. Be it daily operations, cash flows, website data or ones from social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are sellingis a promise that our analysts will offer modern and conventional analytics , work with you and help you see hidden opportunities from your business data.Schedule a free consultation

DIY-Social Media Assessment for Your Businesss

Social Media Assessment for your business this Black Friday

Social Media Assessment-Do it Yourself-It is Costless and simple-Hedgehog Insights

Enough said and done to boost your business on social media. Enough materials you have read and enough hours did you put in. Take a moment out and try to assess how all been going- right, somewhat right, all the same or is it a major blunder.

With the holiday season, peeping from the corner, you can hardly afford to start anything all over again so it’s good to check for quick fixes if at all you need one.

How about you just filled in table and knew the performance. Not 100% error proof but to a great extent you get the real picture of your business on social media. SO be it!

Social Network Platform

# of Followers

# of followers for competitors

Sentiment of Post Positive/Neutral/Negative

# of  Mentions

# of  Competitor’s Mentions

Leads Generated / Purchase

Facebook

Twitter

Google +

Pinterest

After you have the numbers, for each of these blocks do just three things: Compare Compare and Compare. Yes, that really is the basis of all data analysis. Compare your customers, partners and brand image against those of your competitors. Compare their responses, their engagement and involvement with your business vs others. That really is the key in one statement.

And just while you do that, don’t forget to avoid the classic mistakes of assessment, any assessment

1.    Never lose sight of the overall goals of your assessment- why are you doing it? What do you look to achieve and how does it compare with your previous assessment (if)?

2.    Tying each your assessment to business goals. Know what are the final outcomes, how does it help your business grow and increases chances of profitability.

3.    Understanding how you maintain your data- If you use a tool like access or spreadsheets, then you should be knowing the features and technicalities of it. This will help you know how to look into data, import or export them and integrate data for analysis.

4.    Having enough knowledge about customer buying process that is set up for your business. What are the customer touch point and what does customer feel about it all.

Yes, we are there by your side in all these services. Our experience and knowledge will have you look into a reliable and actionable assessment.

About Hedgehog Insights–  We are data analytics service provider . We offer analysis of business data. Be it daily operations,  cash flows, website data or ones from  social media, we put them all together, draw connections and correlations, derive trends and patterns understand causes and offer our clients a set of easily actionable insights. Tools are in abundance and we are not selling another expensive one.All that we are selling is a promise that our analysts will offer modern and  conventional analytics, work with you and help you see hidden opportunities from your business data. Schedule a free consultation .