LONDON--(BUSINESS WIRE)--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the five reasons why every business should invest in social media analytics right now.
With a large number of feedbacks and comments that a brand has to address on social media platforms, getting a clear picture of the customers’ opinion could prove to be hard. This is where techniques like social media analytics and media monitoring come into the picture. The data available from social media offer a potential goldmine of information on a brand’s customers, products, prospects, and competitors. Earlier, brands directly participated in social media activities and overlooked the resulting data. At present, more brands are investing in the benefits of social media analytics. In this blog, Quantzig has listed five reasons why every business should invest in social media analytics.
According to the social media analytics tools experts at Quantzig, “Social media analytics is the practice of assembling data from social media websites and evaluating that data using social media analytics tools to make business decisions.”
View Quantzig’s comprehensive list of the five reasons why every business should invest in social media analytics right now
Quantzig is a global analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors. Listed below are the reasons why every business should invest in social media analytics right now.
Reasons to invest in social media analytics right now
- Gain an edge over the competition: Social media analytics offers insights to companies regarding their competitors, the problems customers have with their products and services, how their customers use their products, and the overall perception of the company. This helps organizations to take corrective actions by understanding their pros and cons. When the customers genuinely feel that a brand cares about what they think, it ultimately leads to a growth in the goodwill and gives companies a competitive advantage over the others.
- Product/service improvements: The feedbacks and reviews on products provided by customers on social media can be analyzed using media monitoring techniques. The negative comments can be used for learning by companies to understand where they are going wrong and take corrective actions. This will help brands to expand their offerings and subsequently provide better customer experience. Also, social media analytics is a much cheaper option to collect customer feedback.
- Learn from customers: For many companies to expand their customer-base, social media marketing and other online sales platforms have proved to be a suitable method. In some cases, customers may have real-world solutions for some of the issues faced by an organization. For instance, for a product that is being sold in the market without proper certification, the chances of use errors increases in this case. But, some users may find a solution to this problem through trial-and-error and then post their discoveries in different social forums, which can help the business determine whether better documentation is essential and what users really need to know.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.