Harnessing Social Media Data to Tackle the Growing Competitive Pressure and Boost Brand Loyalty for a German Auto Manufacturer – A Social Media Analytics Success Story
The client is a leading player in the automotive industry based out of Germany. Owing to the intense competition from top companies in the German automotive industry, the client decided to transform its business model by leveraging three digital technologies namely, social media analytics, IoT, and smart embedded devices. The Business Challenge In today’s complex [...]READ MORE >>
The client is a leading player in the automotive industry based out of Germany. Owing to the intense competition from top companies in the German automotive industry, the client decided to transform its business model by leveraging three digital technologies namely, social media analytics, IoT, and smart embedded devices.
The Business Challenge
In today’s complex business scenario extracting comprehensible information by analyzing social media data is quite a challenging task. What makes it even more challenging is the sheer volumes of unstructured data sets that are available across industries. Social media posts are generally updates, often written using abbreviated words, discarding linguistic rules. The high noise levels along with this information demand accurate processing so that the crucial information captured and summarized rather than building local copies of that data.
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Today, top companies rely on social media analytics for analyzing and processing social media data into actionable insights. By leveraging advanced social media and predictive analytics organizations can effectively mine the growing pools of unstructured data sets, gain actionable insights, and better inform business and other operational strategies.
The client, a German automotive industry player wanted to develop a direct relationship with its customers without disrupting the existing relationship between the dealers and customers. As such the German auto manufacturer created social media profiles targeted to each geography, but they lacked the analytical expertise to analyze the data obtained from such social platforms. They chose to partner with Quantzig to leverage its social media analytics expertise and devise a suitable solution that would put an end to all their social media woes.
Solution Offered and Value Delivered
A detailed analysis of the clients’ challenges and business objectives revealed that they needed to deploy a holistic strategy for exploiting the full potential of their social media. To help the client tackle their challenges and better connect with the customers our social media data analytics experts adopted a comprehensive approach to building a social media analytics framework that focused on three critical steps, i.e., data collection, gathering, and data integration to effectively use social media for intelligent decision making.
The initial phase revolved around combining data visualization tools, social media platforms, and analytics to help the client to monitor customer sentiments in real time. This information helped them to quickly reach out to customers and support them in suitable ways. Social media analytics empowered the client to identify the strength of customer relationships and understand the information flow within groups. Most importantly, our social media analytics solutions enabled them to target influencers who can best affect the purchase decisions of its followers.
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The social media analytics solution also enabled the client to:
• Gauge the strength of customer relationships by creating digital profiles for customers
• Forecast sales and prepare in advance for spikes in demand
• Identify potential customer service issues before they inflict damage to the brand’s reputation
What is social media analytics and why is it important?
Social media analytics refers to the analytical approach that revolves around gathering and analyzing data obtained from social media platforms to make critical business decisions. Social media analytics adopts a comprehensive approach that goes beyond the basic analysis of social posts and engagement rates to gather relevant data and develop a detailed understanding of customer sentiments.
Over the past decade, social media analytics has grown from simply being a tool to analyze engagement rates to an opportunity to gain in-depth insights into customer behaviors and sentiments. What makes it crucial to succeed in today’s complex business scenario is its predictive capability that helps businesses to accurately forecast customer behaviors and draw conclusions. Social media analytics can also help establishments to analyze and quickly draw conclusions from the burgeoning unstructured social media data and convert it into actionable insights.
Empower your team to make fast, data-driven decisions through detailed social media analytics reports.
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