Real-Time Brand Reputation Tracking Using Social Media Rust et al (2021)
Dit onderzoek gaat over het toetsen van de gedachtes/meningen van de stakeholders over het
bedrijf. Voor dit onderzoek is Twitter onderzocht vanwege de open profielen en de korte
berichten. Dit onderzoek heeft een tracker ontwikkeld waarop je kunt meten hoe je als bedrijf
presteert op sociale media. Brand reputation kun je met deze tracker dus meten op korte en lange
termijn. Uiteindelijk kun je op basis van de gegevens van de verschillende analyses opmaken
hoeveel het de onderneming oplevert.
Main question: How can we know what stakeholders think and feel about brands in real time and
over time?
Answer of the question:
1) brand reputation measures must capture the voice of the stakeholders (not just ratings on
brand attributes)
2) Reflect important brand events in real time
3) Connect to a brand’s financial value to the firm.
This article develops a new social media–based brand reputation tracker by mining Twitter
comments for the world’s top 100 brands using Rust–Zeithaml–Lemon’s value–brand–
relationship framework, on a weekly, monthly, and quarterly basis.
The article demonstrates that brand reputation can be monitored in real time and
longitudinally, managed by leveraging the reciprocal and virtuous relationships between the
drivers, and connected to firm financial performance.
The resulting measures are housed in an online longitudinal database and may be accessed
by brand reputation researchers.
Brand Reputation: We define brand reputation as the overall impression of how stakeholders think,
feel, and talk about a brand. This is typically due to brand events that affect firm financial
performance. This definition has the following characteristics:
1) it is about all stakeholders (current and potential customers, employees, partners, and
investors), not just the current or potential customers
2) it has thinking, feeling, and talking components (not just knowledge about brands);
3) it can reflect actual brand events (e.g., controllable marketing activities, uncontrollable public
events);
, 4) It connects to firm financial performance.
Corporate Reputation: An overall appraisal of a company by its stakeholders, which is the result of
the company’s past actions and predictions about the company’s future.
Brand Equity: The brand equity literature emphasizes customers’ overall impression about a brand
OR brand equity definition includes mainly brand loyalty, brand awareness, perceived quality, and
brand associations, constituting various assets and liabilities associated with a brand and value
derived from them. It is the view of NOT ONLY customers about the brand.
Customer Equity: Reflecting a customer lifetime value view, the existing customer equity literature
focuses on the contribution of a brand’s single stakeholder (i.e., customers) to a firm. It is the view of
ONLY customers about the brand.
Brand reputation is similar to customer equity in that both can be driven by the customer
equity drivers and linked to firm financial performance. The focus is on what firms do, in
terms of customer equity drivers or marketing investments, to influence firm financial
performance.
The Social Media Tracking Method:
We use a multistage, theory-data iterative process to develop the tracker, detailed next and shown in
Figure 2. We briefly summarize these steps and explain the log
ic behind them, and describe this process in detail in the next sections.
- Theory-driven text mining. Use the customer equity
framework to establish a three-driver tracker. This
makes the brand reputation outcome theory driven
and thus explainable.
- Managerially actionable subdrivers. Develop the
subdrivers of brand reputation on the basis of
managerial actionability. This makes the drivers
managerially relevant and actionable.
- Customized dictionaries. Generate dictionaries for the
subdrivers using real-world stakeholders’ own words.
This extracts what they think and feel about a brand in
conversation and in context.
- Real-time brand reputation tracking. Collect data in
real time and from multiple social media platforms.
This enables firms to respond quickly and allows the
methodology to be applied across platforms.
- Leverageable driver synergies. Provide evidence for
the dynamics and tempos of the three drivers. This
provides managerial and theoretical insight as to the
internal relationships between the drivers and how a
firm can leverage the synergies of the three drivers
- Financially accountable brand reputation. Establish
the accountability of the tracker for firm abnormal returns. This makes brand reputation and
Dit onderzoek gaat over het toetsen van de gedachtes/meningen van de stakeholders over het
bedrijf. Voor dit onderzoek is Twitter onderzocht vanwege de open profielen en de korte
berichten. Dit onderzoek heeft een tracker ontwikkeld waarop je kunt meten hoe je als bedrijf
presteert op sociale media. Brand reputation kun je met deze tracker dus meten op korte en lange
termijn. Uiteindelijk kun je op basis van de gegevens van de verschillende analyses opmaken
hoeveel het de onderneming oplevert.
Main question: How can we know what stakeholders think and feel about brands in real time and
over time?
Answer of the question:
1) brand reputation measures must capture the voice of the stakeholders (not just ratings on
brand attributes)
2) Reflect important brand events in real time
3) Connect to a brand’s financial value to the firm.
This article develops a new social media–based brand reputation tracker by mining Twitter
comments for the world’s top 100 brands using Rust–Zeithaml–Lemon’s value–brand–
relationship framework, on a weekly, monthly, and quarterly basis.
The article demonstrates that brand reputation can be monitored in real time and
longitudinally, managed by leveraging the reciprocal and virtuous relationships between the
drivers, and connected to firm financial performance.
The resulting measures are housed in an online longitudinal database and may be accessed
by brand reputation researchers.
Brand Reputation: We define brand reputation as the overall impression of how stakeholders think,
feel, and talk about a brand. This is typically due to brand events that affect firm financial
performance. This definition has the following characteristics:
1) it is about all stakeholders (current and potential customers, employees, partners, and
investors), not just the current or potential customers
2) it has thinking, feeling, and talking components (not just knowledge about brands);
3) it can reflect actual brand events (e.g., controllable marketing activities, uncontrollable public
events);
, 4) It connects to firm financial performance.
Corporate Reputation: An overall appraisal of a company by its stakeholders, which is the result of
the company’s past actions and predictions about the company’s future.
Brand Equity: The brand equity literature emphasizes customers’ overall impression about a brand
OR brand equity definition includes mainly brand loyalty, brand awareness, perceived quality, and
brand associations, constituting various assets and liabilities associated with a brand and value
derived from them. It is the view of NOT ONLY customers about the brand.
Customer Equity: Reflecting a customer lifetime value view, the existing customer equity literature
focuses on the contribution of a brand’s single stakeholder (i.e., customers) to a firm. It is the view of
ONLY customers about the brand.
Brand reputation is similar to customer equity in that both can be driven by the customer
equity drivers and linked to firm financial performance. The focus is on what firms do, in
terms of customer equity drivers or marketing investments, to influence firm financial
performance.
The Social Media Tracking Method:
We use a multistage, theory-data iterative process to develop the tracker, detailed next and shown in
Figure 2. We briefly summarize these steps and explain the log
ic behind them, and describe this process in detail in the next sections.
- Theory-driven text mining. Use the customer equity
framework to establish a three-driver tracker. This
makes the brand reputation outcome theory driven
and thus explainable.
- Managerially actionable subdrivers. Develop the
subdrivers of brand reputation on the basis of
managerial actionability. This makes the drivers
managerially relevant and actionable.
- Customized dictionaries. Generate dictionaries for the
subdrivers using real-world stakeholders’ own words.
This extracts what they think and feel about a brand in
conversation and in context.
- Real-time brand reputation tracking. Collect data in
real time and from multiple social media platforms.
This enables firms to respond quickly and allows the
methodology to be applied across platforms.
- Leverageable driver synergies. Provide evidence for
the dynamics and tempos of the three drivers. This
provides managerial and theoretical insight as to the
internal relationships between the drivers and how a
firm can leverage the synergies of the three drivers
- Financially accountable brand reputation. Establish
the accountability of the tracker for firm abnormal returns. This makes brand reputation and
