With rapidly diversifying business interests, companies need that edge to be competitive within their markets. Social media analytics is one method that assists in understanding their client’s interests. Analysts such as NetBase utilize social media conversation as the best possible method to survey data so companies may understand their public perception within their clientele and meet their needs.
Defining Social Media Analytics
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Social media analytics is what further drives companies to understand their clientele. It is essentially analyzing social media data from sites such as Facebook, Twitter, Instagram and other platforms. It takes the data, when customers comments on a particular brand, and compartmentalizes the numbers to store them for company use. These numbers will then determine how in demand a product is, and how much the company needs to adjust based upon customer satisfaction. This customer satisfaction is vital to the company survival, and social media Analytics helps compile that data more rapidly, like compiling data from the survey at high speed. The quickness in which companies can obtain this data allows them to better address competing Market demands.
How it Works with NetBase
NetBase operates in the growing field of social media analytics. Boasting “a 99.5% customer satisfaction rate and a speed 9 times faster than competitors” they deliver real-time results so that clients can hear customer’s voices in conversations they have with one another. NetBase allows clients to facilitate control of their brand, because of the fact that they can counter negative public perception of their brand before things get out of control. Clients with NetBase can be proactive rather than reactive with the data that NetBase provides. NetBase also allows clients to be able to view competitors and to see what customers are saying about them. Clients can see this information not through their own eyes, but through the eyes of the customer.
Making Them Kings
Customers, for example, knew about the Sacramento Kings logo change when it leak to the media. The Kings received a notification from NetBase telling them that there were a lot of conversations about the new logo. Fans were not excited, on the whole, about it; this led the Kings to observe emotions behind the logo and adapt as necessary. They avoided a catastrophe because they paid attention to the client’s point of view and the new logo was a big hit. Had they not listened to social media analytics, they would have had no way to counter the negative perception of their logo.
Thus, analysis of social media is required for a brand’s success in this day in age. With the rise of social media found on Facebook, Twitter, Instagram and others companies can now directly witness their customers reacting genuinely in real time to their products. Those products will then be able to improve because companies can read those emotions and produce data to reflect those emotions. Social media analytics allows for a more empathetic business world, one that is more customer-focused. NetBase’s tools and layout that foster the growth of this analysis allow for a top notch understanding of this new world.