This semester, BUMKC had the pleasure of entertaining Jehan Hamedi from Crimson Hexagon. Crimson Hexagon analyses social media with results that are 97% accurate, selling software as a service. In this dynamic global online world, social media is the single largest source of unsolicited consumer opinions. How great would it be to know what that means exactly for your company? Crimson Hexagon uses sources such as blogs, news forums, Twitter, Facebook and YouTube to deliver results very quickly for their customers regarding their virtual markets. Through the “ForSight” platform, they begin by asking a question and technology uses statistical pattern recognition to discern and quantify the online conversation. Their key is differentiating between relevant and non-relevant conversation.
An example of an analysis done by Crimson Hexagon is a report on “How can we craft the most effective holiday campaign?” Looking into the campaigns of Kohl’s, Macy’s and Zales’, they found that Macy’s had the most effective campaign. They measured advertising effectiveness by looking at the online conversations resulting from the three campaigns during the holiday season. Macy’s ran an ad that featured employees screaming like girls over Justin Bieber. This was found to have overwhelmingly positive reactions driven by emotional appeal especially humor, with an emphasis on Justin being a great choice. Crimson did find a Macys lost opportunity because the dedicated six seconds to the Make-A-Wish Foundation in the commercial was never mentioned in online conversation. In the end, Macy’s sales rose. Kohl’s ran an ad that featured a girl singing a parody of “Friday” by Rebecca Black. The conversation relating to Rebecca Black was 97% negative and actually caused a revolt where three days prior to Black Friday, customers disengaged from going to Kohl’s, which actually lasted for three weeks after. Zales’ ran an ad where customers perceived one of the women as a little boy and disapproved of character choice. Crimson recommended Zales’ should have done testing before release.
Another interesting question Crimson answered through analysis was, “How correlated is box office performance and online conversation?” They found that it was around 98% correlated.
Social media is evolving. It is present everywhere. A tool that analyzes relationships between consumers and the online social media world to your company is revolutionary and definitely worth having.