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Social Labs Newsletter, SEPTEMBER 2023
Use Case: Virtual Focus Groups; Favorite Channels for Youth Aged 13 to 18; Social Advisors + Generative AI (ChatGPT); Liverpool to Sell Electric Cars; Grupo Bimbo Committed to Environmental Care; Yastás Celebrates 12 Years; Electrolit Chooses Spain to Begin European Expansion; Hospital Angeles Health System.
|Five Minutes Well Spent
Presented by:
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Social Advisors Use Cases
Virtual Focus Groups
The Social Advisors platform is designed for continuous interaction with Advisors to consider their opinions and observe their behavior, habits, and beliefs, helping companies make agile, consumer-centered business decisions.
There are various ways to interact with Advisors, known on the Social Advisors platform as types of missions; some are quantitative, focusing on understanding the "what," whether at a declarative or observational level.
However, the value of the Social Advisors platform doesn’t end there. Finding the "drivers" and "stoppers" that motivate consumers/buyers to do or avoid something requires more in-depth studies to identify and understand the "why."
There are several ways to conduct in-depth studies. Observational evidence is one option, asking buyers/consumers to allow us to observe certain behaviors, habits, or practices. Another option is in-depth conversations with buyers/consumers or Virtual Focus Groups. This involves sending a mission to a specific group of Advisors to participate in a conversation where we can explore any business topic in depth. This could be co-creation, understanding beliefs, behaviors, habits, thoughts, fears, motivations, barriers, etc.
In fact, one of the platform's biggest differentiators is its ability to seamlessly and swiftly combine all types of mission-interactions.
For example, imagine a quantitative mission monitoring the consumption of certain products. We can not only measure the performance of our brands and competitors but also literally talk to those consumers/buyers who have shown a change in behavior and investigate the reasons why. This is a unique, unprecedented product: dynamic, intelligent, real-time market share.
What Do Virtual Focus Groups Offer?
- Video recording of conversations
- Storage of recordings as a reference tool
- Video-to-text transcription through artificial intelligence (Cognitive Services)
- Automatic analytics generation via semantic word clouds from conversations
- Report generation with conclusions and recommendations from the sessions
Did You Know...
Favorite Channels for Youth Aged 13 to 18
To identify the best channels to reach 13- to 18-year-olds in Mexico, Social Advisors conducted a study focused on this demographic. According to data from Social Advisors by Social Labs, social media is the most effective channel for engaging with the interests, needs, and desires of this age group.
Among the most used social platforms, Facebook leads with 94% usage. TikTok and Instagram follow closely, with 77% and 76%, respectively. YouTube also has a strong presence at 74%, while Twitter stands at 41%. Pinterest and Snapchat have smaller user bases, at 27% and 19% respectively.
These insights are crucial for businesses targeting this age segment, indicating the platforms to prioritize in communication and marketing strategies.
By clearly understanding the social media platforms most used by young people, companies can focus resources on creating platform-specific content, maximizing reach and relevance.
Additionally, data on topics of interest for 13- to 18-year-olds is highly valuable for business. According to Social Advisors insights, the most popular topics for this audience are viral videos, tutorials, product information, and video games. TikToks are especially popular, with 56% of youth interested in this content. Tutorials also hold strong appeal, with 52% interested, followed closely by product information (50%) and video games (45%). Sports and cartoons also generate interest, with 34% and 30% respectively.
The study also explored preferences for promotions on social media. 32% of teens reported that they "really like" seeing promotions, 29% "like" them, 32% are neutral, 4% dislike them, and 3% strongly dislike them.
Finally, the fact that 32% of young people aged 13 to 18 “really like” seeing promotions on social media is a key insight for businesses. This indicates that social media promotions are an effective way to reach this audience and generate interest in products or services. Companies can leverage this preference to develop appealing, targeted promotional campaigns, increasing exposure and potential sales within this age segment.
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Platform updates
Social Advisors + Generative AI (ChatGPT)
The Social Advisors platform takes a step forward by incorporating heuristic insight generation through the integration of generative AI models (GPT-4). This integration enables the creation of knowledge through an in-depth analysis of data gathered from interactions with consumers and buyers within the Social Advisors Community.
The primary advantages of integrating ChatGPT with Social Advisors include:
- Advanced Analysis of Large Data Volumes: Identifies hidden market patterns and consumer/buyer behavior trends.
- Enhanced Natural Language Processing and Sentiment Analysis: Detects significant differences in patterns and improves language processing capabilities.
- Predictive Capabilities with Multimedia Handling: Manages multimedia information, such as images, videos, and layouts, providing comprehensive Big Data analysis.
- Generation of Recommendations and Advanced Statistical Analysis: Offers hypothesis testing, variance analysis, linear regression, and correlation analysis.
- Creation of Reports with Real-Time Heuristic Analysis: Provides detailed and comprehensive insights in real-time.
The integration of ChatGPT into Social Advisors represents a high-value innovation and a key advantage for companies, generating heuristic insights to support real-time decision-making.
Client News
Liverpool to Sell Electric Cars
The Chinese brand BYD will sell electric cars through Liverpool stores and dealerships. As the world’s largest electric vehicle manufacturer by sales volume, BYD expects to market 10,000 vehicles in Mexico in 2023 and between 20,000 and 30,000 in 2024. In 2023, Grupo Bimbo will have over 2,500 electric vehicles in Mexico, reflecting its global commitment to achieving Net Zero Carbon Emissions by 2050. (Linkedin)
Yastás Celebrates 12 Years
Yastás, part of Grupo Gentera, manages over 6,900 banking correspondents across the country. These are businesses of various types, including stationery stores, pharmacies, and neighborhood shops in urban, suburban, and rural areas. In areas with fewer than 2,500 residents, 42% of these agents are located. “This market still has a lot of growth potential, and even with the increase in digital transactions, we still see a long-lasting need for physical transactions,” says Yerom Castro, General Director of Yastás. (Linkedin)
Electrolit Chooses Spain to Begin Its European Expansion
Electrolit, an electrolyte solution scientifically formulated to maximize hydration, arrives in Spain. This electrolyte drink enters the sports beverage segment after its success and long-standing presence across numerous countries in the Americas. The move to the Spanish market aligns with the category’s growth potential, which saw a 6.7% annual growth rate over the past five years (2017-2022) and is expected to grow around 5.5% over the next five years. Spain offers an ideal setting for introducing new hydration solutions.
Hospital Angeles Health System
With a new structure but the same mission, Hospitales Angeles rebrands as Hospital Angeles Health System. This medical ecosystem includes 28 hospitals, 2,570 beds, 15,000 doctors, 55 specialties, biomedical laboratories, and pharmacies. It is part of Grupo Empresarial Angeles, which also has subsidiaries in tourism, communication, and finance.
