Real Time Brand Reputation Tracking Using Social Media
How can we know what stakeholders think and feel about brands in real time and over time? Most brand reputation measures are at the aggregate level (e.g. the Interbrand "Best Global Brands" list) or rely on customer brand perception surveys on a periodical basis (e.g. the Y&R Brand Asset Valuator) To answer this question, brand reputation measures must capture the voice of the stakeholders (not just ratings on brand attributes) reflect important brand events in real time, and 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.