Overview of the Digital Media Industry
Presently, media consumption across the globe is increasingly happening in digital formats. The upsurge in the number of devices capable of supporting digital media along with growing internet access speed globally has provided consumers with an option to access digital media services of their choice be it information, entertainment or social activity anywhere, anytime. Furthermore, the increase in the number of digital media players is challenging the traditionally sustained supremacy of the television as the main entertainment hub. This increasing popularity of digital media has provided for a paradigm shift in global advertising spends.
What the Client Wanted
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Improved product bundles and price modifications based on customer feedback and achieved 11% growth in sales.
- Altering consumer behaviors and expectations: Today, newer generations are keen to consume content from around the globe. Their prospects are built around instant gratification, specifically the ability to access content instantly. Moreover, customers judge their experience of a digital media service not just against competitors in its own sector, but also against the best service providers from other industries.
- Real-time content administration and data analytics: Data collection and analytics enable businesses to get consumer insights across many devices and channels, allowing them to deliver relevant and meaningful experiences. Additionally, data analytics is particularly important as digital media organizations no longer just provide content, but also offer experiential services built around the content.
About the Client
A market leader in digital media services.
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The digital media industry client collaborated with Quantzig to conduct a web crawling and text mining engagement that would help them devise a solution to optimize their marketing strategies, price points, and enhance product and service features and offers based on customer feedback. The client was facing significant challenges in terms of accomplishing improved sales revenue and market shares owing to the intense level of competition in the media and entertainment industry space.
Summary of Our Engagement
Quantzig’s text mining solution helped the client improve the pricing and promotion scenarios across multiple product and service categories. The client also delivered incremental value to customers and created personalized experiences and custom offers. Additionally, the text mining solution helped the client identify prospective customers and design targeted campaigns to increase cross-selling opportunities.
To know more about how our web crawling and text mining solution helped the digital media industry player, request more information.
Web Crawling and Text Mining Solution Insights
With the help of Quantzig’s text mining solutions, firms across the media and entertainment industry can benchmark the prices of their products against competitor offerings by analyzing product performance based on the sales rank by category and geography. This further helped the client improve the approach of their sales representatives.