This article discusses the product insights that Paul Banas, a Senior Category Insights Manager of Kraft’s Oscar Mayer brand, gains through social media analytics. Banas has found that social media allows the brand to predict long-term trends in consumer behavior and gain invaluable insights into consumer perceptions of the Oscar Mayer brand.
Social listening has influenced Oscar Mayer’s Marketing Mix in a major way. It has revolutionized the way they conduct product research. They no longer rely on traditional forms of research, like focus groups and survey panels. Rather, Oscar Mayer tracks conversations about their product on social media, allowing them to gain a deeper understanding of consumer needs. In the article, Banas reveals that Kraft Foods has even created new products in response to their findings from social media. These products have yet to be released.
Currently, Banas works mainly with social media monitoring firm, MotiveQuest. However, he finds it difficult to determine if such investments translate into sales. One way that Banas can track his social media ROI is by analyzing patterns in Oscar Mayer’s sales against the amount of his investments in social media initiatives. If there is a positive relationship, then he’s doing the right thing!