To protect, maintain, and grow their status, organizations must understand the consumer context they operate in. Through the insights of text analytics, enterprises of all sizes understand and act on the discussions surrounding their products and market. These companies establish their brands as valuable and desirable by leveraging the power of consumer discussions from Twitter, Facebook, online reviews, blog comments, and elsewhere.
Analyze consumer data to find the best audience for a given ad campaign. Physical and digital location of advertisements is key, so use text mining tools to find and choose the best area to display your ads. And when entering new markets, understand the position of competitors to developing informed advertising campaigns that distinguish your product from the pack. Here’s how this works:
By listening to social content, you’ll see the factors impacting your brand. You’ll understand and act on discussion around your products and services, and clearly establish the value of your brand in the minds of consumers. Here’s just a few ways that you’ll use our functions for brand management:
Be careful not to focus exclusively on your own market position, as knowledge of competitors’ brands is equally important. All of Lexalytics’ text mining tools can apply equally well to consumer discussions of competitors — analyzing this data reveals strengths and shortcomings to exploit. By understanding your competitor’s position in a market, you’ll better understand your own position to organize product launches and advertising campaigns to dominate the same market.
New product lines should meet the needs (and wants) of consumers. The themes and topics prevalent in text unveil gaps and shortcomings in current market offerings; businesses utilize these insights to develop new products tailored to meet the market’s demands. Integrating with techniques to optimize product launches and advertising campaigns, companies informed by text analytics get ahead in the market:
When is more advertising money too much advertising money? Optimize your marketing budget with text analytics, gauging when increasing consumer interest falls off as marketing budget increases. Organizations utilize our services to maintain, and grow, their market presence without overspending on advertising.
Analyze market demand on a detailed level to make subtle changes in upcoming products, tailoring them to best fit consumer demand. Plan launch events based on market demographics (a product aimed at millennial men will merit a different launch event than a product aimed at baby-boomer women), and gauge real-time reactions and thoughts on their new product releases. Then develop informed product updates based on feedback gathered from social media during a product’s initial life stages.
Identify consumers who are dissatisfied with their current solutions, then target these consumers with advertising campaigns tailored to their demographics, and sway them to a different brand and product line.
Text mining and sentiment analysis are key tools in social media monitoring for customer experience management. Here’s just a few ways that Lexalytics text analytics will make your customer service efforts stand out:
Sentiment analysis is useful for interpreting feedback directed at your own customer service efforts. Find hidden flaws in your company’s customer support solutions, and drive efforts to build on areas of strength and restructure areas of weakness. When you choose Lexalytics as your analytics provider, you will:
These are just a handful of ways in which our customers regularly apply Lexalytics text analytics software. Whatever your industry, Lexalytics has the text analytics solutions you need to further your brand.