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Social media analytics (SMA) can be summed up as a technique to accumulate data from social media platforms and assess that data to make important business decisions. The proclivity for customer acquisition by prominent brands has propelled the necessity for SMA tools. As customers brand’ lifeblood, it is necessary for companies to utilize this type of analytics for customer retention and long-term condition. Brands are constantly developing new ways to engage customers and keep track of records through analytics. Besides, brands remain updated about the emerging trends and consumers’ inclination for products and services through social media analytics.
Similarly, the critical insights offered by the tool aids in pinpointing potential opportunities, hence bolstering the brands’ image. Companies are learning about customer behaviors and purchasing influences to expand their audience base in the market. The far-reaching insights offered by SMA can support companies to develop personalized techniques and boost the marketing experience. In addition, organizations are also employing social media analytics to perform crisis management response protocols. The analytical tool guides through the severity of the crisis by dwindling the worse or perilous consequences. Few companies offer innovative social media analytics to comprehend the audience and hence cater to their needs.
10 Renowned Brands Dealing in Social Media Analytics:
an American multinational computer technology corporation headquartered in Austin, Texas. The company accounts for a high share in the Social media analytics market. The strategies adopted by Oracle have helped expand its presence in the industry. For instance, in September 2020, Oracle collaborated with Sprinklr to integrate Oracle Fusion Cloud Customer Experience (CX). Sprinklr Customer Experience Management (CXM) succors enterprises to reach large audiences on social media and other digital messaging channels.
Cision is a leading public relations and media software enterprise with a presence in 60 countries. The company offers diverse media analytics solutions and sustainable modern communication solutions. In February 2021, Cision signed a definitive agreement to merge Brandwatch, a digital consumer intelligence company. This acquisition will provide immense benefit to Cision’s marketing capabilities, digital customer engagement, and PR.
Clarabridge is a prominent brand that offers customer experience software as a service using AI-powered text and speech analytics. The Clarabridge CEM platform provides data insights from consumer interaction using industry-recognized AI-powered text and speech analytics to improve operational efficiencies. In August 2018, Clarabridge Inc became an official WhatsApp Business solution provider. Clarabridge's CX Social, a social media management tool, is popular among organizations.
International Business Machines Corporation, a multinational technology company based in New York. The company has a diverse media solution portfolio. In July 2020, IBM Corporation collaborated with Influential to introduce Watson Advertising Social Targeting. Watson Advertising Social Targeting from IBM Corporation utilizes artificial intelligence (AI) to help marketers identify influencers that better fit with their brand values. The social targeting tool will support marketers engage with an audience in an ever-evolving world.
The company provides fast, real-time, and accurate social media analytics solutions to help establishments grow. NetBase’s qualitative insights help interact with customers and understand competitors. In June 2018, NetBase released a cross-channel Customer Experience Analytics solution that incorporates Voice of the Customer (VoC) and social analytics.
Based in Canada, Hootsuite is a social media management platform with 18 million customers worldwide. In March 2020, Hootsuite introduced Insights Powered by Brandwatch, a new social media listening solution. The tool is integrated into the Hootsuite dashboard, allowing companies to enhance customer intelligence by discovering and analyzing the most relevant and nuanced conversations about their brand.
Headquartered in Brighton, England, it is a leading digital consumer intelligence company. In August 2018, Brandwatch partnered with Crimson Hexagon to launch a digital network that integrates social media listening and analysis of industries, brands, and customers.
A leading global social media monitoring and competitive intelligence company based in France. In April 2019, Digimind partnered with TrustedOut to enhance decision-making for Business Intelligence companies, brand protection managers, and public relations (PR) professionals. TrustedOut offers up-to-date and trustworthy repository sources through its Machine Learning (ML), big data, web crawling, and microservices capabilities.
Based in California, Meltwater, a software as a service solution and the world's first online media monitoring company with over 25,000 clients. In March 2018, the company announced the acquisition of Datasift, a London-based data intelligence company. The investment will help strengthen Meltwater’s footprint industry.
Headquartered in New York, an AI analysis provider. Talkwalker’s platform helps uncover, understand, and extract the most valuable insights from the social, web, and conversational data. In July 2020, the company introduced refreshed Talkwalker platform that amalgamates AI and powerful analytics with a user-friendly and smoother dashboard.
Predominant Jolt to Digital Environment May Work in SMA’s Favor
Several challenges initially met the shift to the digital ecosystem during the pandemic. Nevertheless, the changing marketing experiences due to adaptive consumer expectations have resulted in new opportunities. The rising use of social media and reformed browsing habits during the crisis has urged businesses to reinvent their strategies. The adoption of new marketing tools due to the wave of digital transformation has helped the social media analytics (SMA) market in the time of crisis.