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.

Markets | Solutions | Applications

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Advertising Targeting

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:

  • Entity extraction picks out a customer’s common travel destinations, prior hotel bookings, and other specific travel items
  • Themes indicate a customer’s general preferences in where they stay and how they travel
  • Sentiment analysis shows what they liked and disliked about where they’ve been before
  • Intentions to determine “buy” signals
Put this information together for a number of consumers and hotel reviews, and you’ll have a comprehensive picture of the demographics that frequent your market – the information you need to create targeted, effective advertising campaigns.

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Brand Management

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:

  • Extract entities to identify individual speakers and their subjects
  • Sort text by categories to find out general topics of discussion
  • Find common themes to understand the context they’re speaking in
  • Run queries to track mentions of your brand in relation to others
  • Analyze sentiment to determine how each speaker feels about each topic
With Lexalytics text mining tools, you’ll even discover new markets and segments ripe for your entry, and determine how to best spend money to begin and develop the conversation around your brand.

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Competitor Analysis

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.

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Generating New Product Ideas

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:

  • Use categories to find the industries people are discussing
  • Entity extraction to find the products and features they’re already talking about
  • Sentiment analysis to find the ones they’re dissatisfied with
  • Understand the context of themes to identify specific openings or weak points in the market

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Optimizing Marketing Spending

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.

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Product Launches

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.

  • Categories and entity extraction to analyze other product launches
  • Themes to see what made an impression the crowd at those events (lighting, subject matter, etc.)
  • Sentiment to see what they liked and disliked

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Sales Leads

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.

  • Sentiment analysis to see who’s unhappy
  • Entity extraction for specifics on what they’re unhappy about
  • Themes to identify ways your product is better

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Social Customer Service

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:

  • Use sentiment analysis to sort positive reviews from negative, grade them by urgency, and deal with each in turn
  • Themes and topics to identify recurring, hot-button issues that need immediate addressing
  • Entity extraction to identify key influencers or repeat customers who may merit a little extra personalized service
  • Search queries to find specific recurring problems that need addressing

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Support Analysis

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:

  • Identify the themes prevalent in feedback directed at your customer service systems
  • Topics: what areas of your customer support are discussed?
  • Entities: identify individual CEM employees named in feedback forms
  • Utilize sentiment analysis in concert with the above systems to see which areas of your customer support are succeeding, and which areas need restructuring
  • And run specific queries to monitor consumer response to prior concerns

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.

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