The media and entertainment industry must apply advanced analytics solutions to monitor conversations from social media and rely on social media intelligence for comprehensive audience insights and granular social media listening. Our social media listening solutions include features like an automated alert system and sentiment analysis that enable media service providers to accurately track and analyze social mentions and customer sentiments. After considering several solutions, the media and entertainment client collaborated with Quantzig to expand their offerings as per the consumer preference by leveraging social media monitoring and analytics.
The Client’s Challenge
The client is an American online media services provider with its primary business revenue being generated from its subscription-based OTT platform offering media services that included several in-house programs. Witnessing a high subscription rate amid the crisis, the client’s main challenge was to improve their service efficiency by offering customized services and recommending programs that matched the preferences of existing and potential customers across the globe. Key challenges faced by the client included:
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Problem Statement 1
Track customer engagement– The client was inundated with datasets generated from a diverse customer base and was unable to track & gauge the engagement rate of their programs. By leveraging social media listening they were looking forward to analyzing the engagement rate and their position in the competitive landscape.
Problem Statement 2
Expand offerings– With the consumption level of online media services witnessing an all-time high amid the crisis, the client witnessed a high demand for its services. The client wanted to use this opportunity to expand their product offerings but we’re finding it difficult to develop programs according to consumer preference.
Problem Statement 3
Gauge customer sentiment– With a vast portfolio of offerings the client found it increasingly difficult to track the overall customer sentiment towards their brand.
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How we Helped the Client
Quantzig’s social media listening solutions combined text mining and data clustering techniques to classify customer sentiments into different categories based on the potential of individual customers. To meet the client’s requirement the experts analyzed historic datasets which included minute details of customer sentiments, followed by a detailed classification that offered insights into the current customer preferences and the factors impacting them.
Within a very short span of time, the media and entertainment industry player was able to witness massive results. With the help of Quantzig’s social media listening solution, the client was able to effectively map social media engagement rates with key business outcomes. Our social media monitoring and web analytics experts also deployed an automation solution to map the client’s social media engagement with their customers. Therefore, it can be said that machine learning, social media monitoring, and web analytics-based efforts combined together helped the client to convert their unstructured information into lucid and real-time insights for timely action and better decision-making.
The social media listening solutions provided granular insights into the customer preferences which helped the client to understand what the existing customers and potential customers are expecting from the online media platform. On developing programs as per the customer preference, the client witnessed a sharp increase in subscription rates. The client was also able to acquire a few mid-sized production houses and create content to suit the needs of its growing customer base.
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Social media listening solutions helped the client to:
- Expand product offerings
- Devise a robust marketing strategy
- Achieve a 35% increase in return on ad spend (ROAS)
- Enhance operational savings
- Reduce acquisition cost
Why Choose Quantzig’s Social Media Listening Solutions?
At Quantzig we believe that our advanced analytics-driven capabilities can transform any business. We have been working for nearly more than a decade on an approach to building brand value for media and entertainment companies. Our approach mainly involves the application of advanced analytics and artificial intelligence. We recently worked with a major online media services company which was at a severe social media listening disadvantage when compared with its competitors. We helped the client to deploy a data-driven social media monitoring approach to identify the opportunities and challenges and restructure their product offerings which finally resulted in better ROIs.