Analyzing Beverage Trends Through Social Media
Guests are increasingly turning to social media to share their experiences and find the next great cocktails. Therefore, exploring social data to help analyze beverage trends and identify loyalty drivers can help to attract more guests to your establishment. In addition, understanding the top trending cocktails and ingredients as well as key positive and negative themes across the food & beverage industry can add significantly to a chain restaurants success.
In order to understand the expansive landscape of social media, Kristin Muhlner, CEO of newBrand Analytics (nBA) and speaker at the 2014 VIBE Conference in March on “Increasing You Social I.Q.,” shares with us basic insights on what beverage executives can expect and what they can learn from tracking social data to stay current.
At nBA, “we analyze online feedback coming through social media, review, and blog sites,” says Muhlner. “When we aggregate the data and look for themes, we learn how beverages affect loyalty for any given establishment, as well as what key ingredients or menu items receive the highest sentiment.” This information can prove extremely valuable in a market where uncertainty has some consumers reducing their visits to or spending in restaurants and bar.
Muhlner and her team will update their analysis for all 2013 trending cocktails and ingredients in social media this coming January and present their finishing during her session at the VIBE Conference; however in 2012 and the first part of 2013 they saw multiple cocktail themes trending positively including, cucumber cocktails, green tea mojitos and house made sodas. To garner this information they look at “100 of the top restaurant concepts to see what cocktails are mentioned the most favorably,” states Muhlner.
In addition, Muhlner advocates listening to and analyzing all the social feedback about beverages so that executives are more informed when making on-premise investment decisions and implementing new culinary strategies. “The analysis helps executives understand where the conversation is happening, so that advertising and engagement strategies are aligned with those sites that are driving the most activity.”
“Social data also provides a rich source of competitive information to help executives understand how promotions or seasonal offerings may be perceived at competing concepts,” says Muhlner. “In short, you really can’t have a marketing plan that doesn’t adequately incorporate social analysis, given the incredible impact it has on current guest decision making.”
Therefore, in order to position yourself for success, make sure to attend Muhlner’s informative session that tackles the latest social media trends and activities that will advance your understanding and set you apart.
For more information on Kristin Muhlner’s session, the show or to register, visit www.vibeconference.com.