NetBase, a global leader in social media analytics, today released the 2018 EMEA Automotive Social Sentiment Report. The report analyzed two distinct luxury car markets, the major players and the ultra-elite niche markets, to find the most “ and least “ loved luxury car brands, highlighting the importance of performing sentiment analysis in order to best understand the market.
The European luxury car story is one of projected sales powered by sentiment. The overarching growth tells a tale of fickle, discerning consumers who arent afraid of paying for luxury, but have high expectations fueled by in-the-know sources (media, professional and personal contacts) who continuously set the bar higher.
Luxury audiences are more particular than most. Brand managers must find a balance between making changes to the brand that maybe your audience did not want changed, while simultaneously being able to evolve with the times, said Paige Leidig, chief marketing officer at NetBase. The only way to know what your customers really want, and where your brand favors amongst your peers, is to run a social media sentiment analysis.
Social media data collected by the NetBase social analytics platform for the 36 top European automotive luxury brands captured consumer emotions from positive or negative, represented with scores from -100 to +100. Scores ranged widely, even with these highly successful brands:
1. Mercedes Benz70% 2. Smart82% 3. BMW52% 4. Renault43% 5. Peugeot47% 6. Volkswagen31% 7. Audi64% 8. Porsche64% 9. Citroen60% 10. Opel59%
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Top 10 Most Loved European Automotive Brands
1. Lotus 2. Caterham 3. Ariel Atom 4. KTM X-Bow 5. Smart 6. Nobel Automotive 7. Bugatti 8. Alfa Romeo 9. Maserati 10. Aston Martin
Overall, European consumers expressed the most positive net sentiment scores for other product categories, such as beauty products (83), followed by jewelry (82), high-end (78), hotels & resorts (74), luxury ecommerce & retail (73), and fashion (71). Automobile was ranked eighth on the list with a score of 63. Does that mean consumers are apathetic about luxury cars? Not at all. In May 2017, European car sales increased rapidlyparticularly for German brands, which dominate the European region, with regard to revenue. Mercedes, BMW, and Audi increased by 17 percent, 24 percent, and 22 percent. While Porsche grew an extraordinary 189 percent.
If brand managers are able to discern why consumers either love or hate their brand, they then can inject their customer experience with whatever their audience demands, and stop doing whatever isnt working. Social media sentiment enables smaller, niche luxury automotive brands to compete with the major players. Any failures within the customer experience are enough for consumers to take their business elsewhere.
For more information, read the full 2018 EMEA Automotive Social Sentiment Report here.
NetBase is the award-winning social analytics platform that global companies use to run brands, build businesses and connect with consumers every second. Its platform processes millions of social media posts daily for actionable business insights for marketing, research, customer service, sales, PR and product innovation. NetBase is a trusted partner to American Airlines, Arbys, Coca-Cola, Ogilvy, T-Mobile, Universal Music Group, Walmart and YUM! Brands. Learn more at www.netbase.com or @NetBase.
Maddie Brosler, 781-684-6657