BCG and Social Standards Join Forces to Uncover New Growth Insights and Opportunities Powered by Consumers
Billions of Authentic Consumer Conversations: Structured, Indexed, and Benchmarked to Create Actionable Insights at the Category, Product, Feature, and Trend Levels
BOSTON , April 20, 2022 /PRNewswire/ -- Social Standards, a leading comparative analytics platform, and Boston Consulting Group (BCG), one of the world's leading management consulting firms, today announced a new strategic partnership to accelerate the systematic use of proprietarily tagged cross-platform social media conversation data and insights for B2B and B2B2C clients. Supported data sources include Instagram, Twitter, Reddit, and TikTok.
While most social media listening platforms can provide companies with surface-level data about how many people are talking about them, Social Standards can go deeper into the content of what people are saying by turning billions of data points into benchmarked insights about brands, and even drilling down to category, product feature, and trend levels.
"There's no lack of companies doing social listening—but no one else is doing structured social listening. Social Standards is able to treat social data as behavioral data that is directly mapped to each respective market," said Mark Abraham, a managing director and senior partner at BCG. "With Social Standards, we can finally quantify the 'why' behind consumer behavior and actively forecast what happens next."
On the BCG side, the partnership is led by the firm's Consumer and Marketing, Sales, & Pricing practices, along with integration into Lighthouse by BCG, the firm's high-frequency data and analytics platform. With this partnership, BCG gains exclusive access to syndicated cross-platform social media data to augment its strategic, operational, and digital insights and impact across a wide range of use cases with clients including, but not limited to:
- Consumer segment definition and enrichment
- Brand positioning, health assessment, and growth potential
- Product innovation, development, and optimization
- Marketing, sales, and pricing
- Mergers and acquisitions (M&A) pipeline development
- Brand assessments for private equity or strategic buyers
- Competitive positioning landscaping
- Customized brand tracking
Through the partnership, clients are empowered to inform and infuse their strategic decision making with granular, objective, non-biased consumer insights and trends from social media conversations that have been isolated and identified as the most relevant and meaningful to their brands and/or markets. Further, they are provided with the ability to track leading-indicator consumer metrics, allowing brands to easily and quantitatively compare their own performance over time, or compare themselves with individual competitors, or with an index of competitors.
"As a result of our extensive multiyear relationship, Social Standards has now become part of BCG's default toolkit for all things consumer, be it brands, retailers, or M&A," said Christine Barton, a managing director and senior partner at BCG. "We are thrilled to now be entering into this exclusive strategic partnership with them."
"The choice to partner with BCG was an easy one because of how innovative and future-looking the firm is," said Devon Bergman, CEO and co-founder of Social Standards. "BCG very much strives to continuously expand its capabilities and doesn't rely solely on traditional methodologies. And most importantly, we consider BCG to be the best in their industry."
For more information, please contact Brett Thomas at BCG, and [email protected] at Social Standards.
For media queries, please contact Eric Gregoire at +1 617 850 3783 or [email protected].
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
About Social Standards
Social Standards is the next generation of market research. Social Standards has developed an industry-defining consumer research platform that harnesses the power of collective intelligence to deliver deep insights on consumer conversational data. The platform is a first-to-market tool which structures the massive set of unfiltered conversational data derived from social channels into market vertical-based ontological relationships, enabling quant-based understanding of consumer motivations and market direction. Social Standards is leveraged within corporate strategy, growth investment, and product development teams at some of the world's largest CPG brands; supports investor due diligence analysis and operating strategy development for the most renowned PE and management consulting firms; and is used across equity sell-side research and advisory teams at some of the largest and most prestigious investment banks.
Social Standards was founded in 2017. The company has offices in New York, Oakland and Los Angeles.
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