Summary: What does the Brexit crisis have in common with fake online reviews?
What role can data analytics and analysis play in this saga?
This post provides guidance for depending on hashtags and online reviews.
Pollsters and punters had the Remain campaign winning the Brexit vote by a hair. But the headlines this and last week speak to a different tune.
The Pound Sterling fell as traders prepared for a cut in the interest rate. Some felt that Britain was starting to imitate Greece and called it Britain’s Greek tragedy…
So are we analysts and number crunchers to blame? Here are some things the Brexit crisis has taught us big data pundits.
1. Hashtags do not win elections
Groups tapped into social media in the hope of persuading the young to join in (or out). Stars joined campaigns and let themselves be used as messengers in videos. Nevertheless, all this failed to sway enough voters to go to the polls.
Just about two weeks before the referendum was held Thursday 2016-06-23, Adam & Eve DDB tried its luck with an online video campaign featuring celebrities and swear words, including this example:
Inspiring young people to vote in the EU referendum proved tough in the UK. But other countries have similar experience. For instance, in Switzerland younger people tend to vote less often than their elders.
Brandwatch did a study about hashtags for the Brexit campaign. Unfortunately, data are sketchy. Did they include the hashtag #voteremain that was apparently used 600,000 times in their analysis? And what about others?
♥ Curious? Join 1500 other subscribers to this blog’s newsletter and read on!
Besides, using a hashtag does not mean my tweet is positive toward that particular side of the campaign. And does voicing our opinion using social media mean we go to the trouble of voting?
Nor has social media been known to change people’s firm opinions, so who cares about the social media echo chamber. It is the voting booth that counts, stupid.
2. Fake online reviews and your cash register
Like hashtags fail to necessarily sway a large group of voters, so do fake online reviews. But some attribute increasing importance to them. In fact, Social Bites won awards and was feted by social media ‘influencers’.
Unfortunately, it all turned out to be a fake used by Mark Cowper to show how much social network content is fake (see image below). The Twitter account has now been closed.
In particular, this highlights how influencers let themselves be swayed and thereby provide their fans or followers with useless information or fake content / reviews.
Read: Fake online reviews
What is really sad is that the campaign grabbed a lot of attention on social networks and in the media.
But can we conclude that all this hype would have resulted in more sales? The site never got launched, but this could well indicate that buzz has little to do with your bottom line.
Nevertheless, fake online reviews are becoming a plague. So much so that the UK government decided to investigate online reviews late last year.
Read the interesting press release here: Press Release – UK Competition and Markets Authority (CMA) takes enforcement action against fake online reviews
March 2016, the authority published some guidance for businesses on what is okay under the law. Check out the report here: Guidance Online reviews: letting your customers see the true picture – see image below.
3. Should I put trust in reviews from associates?
Mark Cowper’s experiment nicely illustrates the problem of how sharing of fake reviews and wrongful information affect one’s online reputation.
In turn, he wanted to illustrate that we need a review platform that provides us with product reviews from our trusted network.
The idea is great. Getting recommendations from my trusted network sounds like a classic word-of-mouth marketing approach.
We love to hear our friends’ experiences before we buy (see screenshot below – find and save recommendations from your trusted network).
Unfortunately, the Recomazing network is a perfect example of sunk costs. I have already invested in having an online presence on such platforms as Twitter, Google+, Flickr, Facebook, WhatsApp, Snapchat, Instagram and Tencent.
So starting anew on Recomazing also means some switching costs.
- Is it worth it?
- Who has the time to join another network, never mind write and read product reviews about things one will never buy?
- Do we have the time – or is it just so entertaining (e.g., like watching a video) that we do not mind spending time on a network about product reviews?
Besides, while this may work in OZ (Australia and New Zealand), hardly any of my friends in Europe use it. So am I wasting my time joining? Probably.
Watch the short video below and you’ll see what I mean.
♥ Curious? Join 1,500+ other subscribers to this blog’s newsletter! ♥
4. Have your say – join the conversation
What is your opinion?
- How do you decide what to buy?
- Do you have a circle of friends that write online reviews regularly?
- When was the last time you shopped for a brand or stayed at a hotel because of a review?
- Do you remember last time your friend recommended a product based on their great experience (e.g., running shoe, coffee maker or going to shop at a store with knowledgeable and friendly staff) and you took their advice?
The author declares that he had no conflict of interest with respect to the content, authorship or publication of this blog entry (i.e. I neither own any of these brands’ products nor are they our clients).