Whether it is a worldwide corporation with locations across the planet or a small local business that wants to grow its customer base, social media is playing a key role in making this happen each and every day. As millions of people go on various social media sites such as Facebook, Twitter, Instagram, and many others to give their opinions of various products and services, companies can use this information to develop marketing campaigns, create strategic plans for company growth, and carefully examine which products or services may or may not be as popular as expected. To accomplish this they need sophisticated analytical software, which is why they turn to NetBase.
The Basics of Analytics
Once a company begins investing in social media analysis, various aspects of social media sites suddenly become very important to future business planning. Using state-of-the-art artificial intelligence, NetBase can work with companies to examine social media posts for such things as consumer preferences, brand passion and sentiment, consumer behavior, trending topics, and much more. In doing so, companies can then compile this information and use it to develop strategies that will pinpoint consumer needs and desires, ultimately helping the company expand its customer base.
A Cost-Efficient Tool
When even the smallest of companies plans and eventually introduces new products or services, the financial investment has been substantial. Thus, should the results be less than expected, significant amounts of money are wasted. However, by using social media analysis through NetBase, companies often find it to be a very cost-efficient tool in many ways. By being able to carefully and instantly analyze consumer behavior and preferences, a business can then make changes along the way if necessary to its products or services prior to bringing them to market. In being able to divert funds to other areas before they are already spent, social media listening analysis lets companies run more efficient operations.
Analyzing Images and Conversations
As we all know, most social media sites are made up primarily of conversations and images. In fact, more than 3 billion images are shared over social media sites around the world each day. Along with this, conversations in almost 200 languages take place as well, emphasizing the importance of having social media analysis tools within a company. For those companies using NetBase, brand opinion can be analyzed by having access to blogs, forums, and review sites. By having this data, companies can then see which social media sites they are mentioned on the most, and can take advantage of AI capabilities within the analytics to carefully scrutinize posts for hashtags, people, emotions, brands, and more. This enables them to gain greater understanding of the driving forces behind consumer preferences and behaviors, allowing them to make business decisions faster than their competitors.
The Market Leader
As social media analysis has become an important business tool for more and more companies in recent years, NetBase has positioned itself as the undisputed industry leader in this field. Working closely with such well-known national and international companies as Walmart, Coca-Cola, American Airlines, Hyundai, and many others, NetBase has found itself at the forefront of consumer and brand analysis. Having received awards for Best in Class within Consumer Technology and Best New Product/Service for businesses, NetBase continues to expand on its success by constantly examining ways advanced analytics technology can be used within businesses.
With there being no end in sight for the number of people who use social media each day, the future looks very good not only for NetBase, but also companies that have come to recognize the value of social media analysis.