ConAgra Foods Inc. got an early warning from chatter on the Internet that the low-carb craze was fading. The huge food company seized the chance to promote an alternative menu, its Healthy Choice soups, entrees and lunch meats.
"By utilizing online message boards you pick up nuances in the marketplace — customer statements, thoughts — that enable us to distinguish whether something is a trend that has long-term impact or a fad that will be short-lived," said Nick Mysore, director for strategy and insights at ConAgra, which also produces Butterball turkeys, Chef Boyardee ravioli, Rosarita refried beans and scores of other products.
We often say there are four key applications for studying online consumer-generated media and word of mouth. This Washington Post overview dives into the first of these four key applications.
1. Anticipating or predicting social trends and behaviors
2. Understanding social trends as they unfold
3. Planning product and marketing strategy
4. Measureing marketing effectiveness and ROI