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social listening

Three Minute Guide to Social Listening for Businesses to Improve Customer Engagement

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What is Social Listening?

Social listening is the process that helps to perform a detailed analysis of conversations and trends happening not just around your brand, but around your industry as a whole. By leveraging these insights businesses can significantly improve their decision-making capabilities and can enhance their engagement rates. Today it wouldn’t be wrong to say that the sales funnel is the holy grail of marketing metaphors. If you dream of setting up a successful business, a road map describing how you would pitch your products or services to consumers is extremely important. Social media platforms are one of the best options to bring in strangers into your sales funnel, with other strategies kicking in afterwards. Also, social listening can help businesses to discover what their current and potential customers feel about their brand and what they are interested in. The catch here lies in turning this information into specific marketing strategies that will help businesses target potential customer groups.

Our social media analytics solutions can help you address your customer needs and respond to them effectively in real-time. Request a FREE proposal now to gain in-depth insights into our web and social media analytics solutions.

Benefits of Social Listening

Improves customer experience

Social media is not always the platform that is solely used to contact the brand itself, sometimes it is just a rant or side note dedicate to something entirely different. By using this opportunity businesses can improve customer experience through social listening and discover and respond to such comments on social channels.

Our analytics experts help companies to develop an understanding of KPIs, select measurement tools, analyze reports to enhance performance, and create tests to improve social media messages. Get in touch with them right away!

Keep an eye on the competition

You’re probably following your competitors on social channels to keep track of what their up to unaware of the fact that social listening is the secret key that’ll help you gain access to the bigger picture. Analyzing market conditions from a competitor’s viewpoint can help businesses to analyze the key metrics to success while avoiding misconceptions.

Market your products through industry influencers

Most of the social media listening tools used today offer a new feature called ‘social influencer’ using which brands can identify people who are already interested in their brand and offer free products or an early trial, while also tracking buzzwords relevant to the product or industry.

By leveraging our advanced analytics solutions, you can keep a track of the opinions of your followers and proactively resolve customer issues. Request a FREE demo below to know more.

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Quantzig’s Social Listening Engagement Helps a Renowned Personal Grooming Products Retailer Build Better Products Based on the Market Expectations

The client: A prominent personal grooming products retailer

Area of engagement: Social listening

The global market for personal grooming products, is extremely diversified and can be bifurcated into two segments, namely personal care products and personal care appliances. In the last few years, personal grooming products have become popular across economies owing to the penetration of new and innovative appliances in the market. Such products comprise of trimmers, electric toothbrushes, massagers, hair setters, curlers, and many such personal care devices.

The personal grooming products market, which is a part of the CPG industry, is expected to witness substantial growth over the coming years owing to the rise in disposable income of end-users; thereby, enabling them to spend more on personal grooming products. Moreover, while the personal care products segment for women is a prominent category, the introduction of an array of men’s products for grooming has further bolstered the growth of the CPG industry. The market is also gaining huge benefits through their promotional offers, marketing campaigns, advertising, social listening, and media penetration. Also, facets such as rapid urbanization, the rise in consumer’s spending power, and the growing popularity of international brands will increase the demand for such products in the near future.

The following are some of the significant data-driven challenges faced by organizations in the personal grooming products sector:

  • Gaining the proficiency to use data: Firms operating in the CPG industry often assimilate data from various external sources, this inherently gives rise to the issue around data contextualization. However, having more data doesn’t necessarily help in gaining actionable insights, and even the best analytics tools often fail to identify the actual business objectives.
  • Deriving actionable insights from the gathered data: The rapidly occurring technological innovations have created much trouble for these organizations, especially those who have not been able to keep pace with these advancements. Moreover, to top the already existing sales, promotional, supply-chain, and finance data; social media is a new entrant to add to the woes. And what becomes critical for such organizations now is how to manage, streamline, sort, filter, and make sense of the data in real time.

As the personal grooming products retailers expand their foothold in developing markets, QZ- Request free proposalthey unlock new opportunities, and this unfolds several challenges in capturing critical downstream data in the distribution channels.

The Business Challenge:

The client, a leading personal grooming products retailer, approached our team of experts to help them devise effective social media monitoring strategies. They also wanted to leverage social listening to extract key insights from social conversations and apply it to bring changes in their overall strategy. The client was also looking at analyzing the context and trends revolving around social media platforms through a comprehensive social listening engagement. Additionally, they wanted to gain valuable insights to implement better strategies to addresses and serve their target audience.

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The Solution and the Business Impact:

Our solutions helped the client in leveraging their social listening skills to understand the demands of their consumers. It also assisted them in measuring the impact of negative and positive sentiments on their brand’s popularity, particularly on social media.

Also, it enabled the client to connect with leads while strengthening ties with customers using the same social media channels. Moreover, the client was able to track what is being said about their brand on the social platforms by taking quick remedial actions to change the end-users’ perceptions. Also, it helped them to build better products based on the market expectations that led to successful business growth.

Social Listening Solution Predictive Insights:

Quantzig’s social listening engagement helped the client in gaining a deeper understanding of the strategies of their competitors as well as their reception rates by the end-users. A detailed understanding of such failures and successes further helped them in assessing their market position and launch new services and products.

Our solutions are defined based on several fine-grained tasks, clear objectives, and success factors that enable firms to improve their social listening skills. Moreover, social media listening is a powerful tool that offers real-time data and information regarding a company’s performance on social channels. This information is a direct feedback from the grass-root level, which if well-organized and interpreted, can improve your overall business efficiency.

Want to know more about our approach to social listening and how we help companies identify and adjust to the latest CPG industry trends?

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Social Media Algorithms – The Reason Behind Uncontrolled Addiction

It’s amazing how interconnected the world has become thanks to social media. People from all around the globe are socializing and connecting because of it. You can stay abreast of what your friend is doing in one part of the world while sitting on the complete opposite side of the world. Also, its surprising how intensely social media can get its users hooked, its almost as if every other content or post is of interest to them. But how can that happen? Not everything interests a particular people, and they might not be interested in everyone in their friend circle. That’s where social media algorithms come to play. They take into account multiple factors including users likes, dislikes, and preferences and displays them feeds, which they would like the most. Consequently, it leads to users getting addicted to social media and spend hours scrolling through feeds – a phenomenon coined infinite scrolling. However, it was not always the same in the past, as posts would be ordered in chronological order, which could cause you toFree demo miss posts from your close friends. So how did we progress from seeing everything to see only the things we like?

Social media algorithms

Leading social media platforms use algorithms to determine if the user will like a particular kind of post or not. They go through all the posts in a user’s feed and sort the posts that are popular and relevant to them. If users are shown all kind of posts from everyone, then their feed will get overflooded with unwanted stuff, subsequently losing interest and quitting the app. However, such intelligent feeds pose a challenge to the marketer who needs to come up with original and refreshing content to fight for some real-estate in the users’ feed. So how leading social media platform’s use social media algorithm to keep their users happy?

Facebook algorithm

Facebook has abundant metrics to determine user preferences. They always look into what users like, share, comment on, and post on their site. The Facebook algorithm makes sure that users see posts they most likely will engage with. Facebook takes into account the content available, considerations about the content, and considerations about friends to come up with an overall score. Such score enables Facebook to sort posts based on users likeliness. For instance, considerations about the content factors in signals such as time spent on the content, number of comments, story type, engagement with the publisher, nature of information, the person sharing a link, and the time of post. Each factor is given weight as per its importance in order to calculate the overall score. Also, content shared by friends and family spark more interest and engagement from the user. To drive such user engagement, Facebook killed its EdgeRank algorithm and now has close to 100,000 weight factors to rank news feed.

Instagram algorithm

Instagram is another social media platform owned by Facebook itself and focuses mostly on image-sharing. Instagram also recently started sorting posts based on user preferences rather than chronology. For big businesses with thousands of followers, it is estimated that only 10% of the audience actually sees the posts. The Instagram algorithm reviews the number of likes, comments, video views, hashtags, saves, shares, and DM’s to calculate the relevance of the post. This can be quickly confirmed by going over to the search bar in Instagram, which will show you relevant posts from unfollowed people or pages. It also takes into account the time of day a content was posted and the engagement it gets. For brands looking to reach their customers, it will now be essential to know when a majority of their user base is active so they can generate more engagement.

Twitter algorithm

Twitter reports that more than 500 million tweets are sent each day – and the number can go as high as 150,000 tweets in a single second. On a platform such as Twitter, updates can be easily lost in the shuffle. As a result, Twitter algorithm helps ensure most essential tweets appear at the top of users timeline. Twitter can figure out if a user is always replying, retweeting, or linking someone’s tweet and show that account’s tweet first. However, unlike other social media, Twitter may also show tweets from people user’s don’t follow based on signals which indicate its popularity and how people in user’s network are interacting with it. Unlike Facebook and Instagram, users can choose to revert to chronological feed in their settings. The Twitter algorithm factors in total engagement, post timings, use of rich media, location, hashtag, and pictures and videos to make it more relevant.

To know more about how social media algorithms work, Facebook algorithm, Twitter algorithm, and Instagram algorithm:

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Quantzig’s Social Listening Solution Helps a Financial Services Firm Identify Emerging Trends in Public Affairs

The client: Financial services provider

Area of engagement: Social listening

Today, leading banks and financial institutions are looking beyond compliance to optimize their business and boost financial performance despite rising industrial risks and regulations across the financial services industry. The global financial services industry is witnessing a revolution toward a more consumer-centric environment to increase liquidity, reduce leverage, and improve additional capital. However, in the hassle to enhance risk management capabilities and build an agile infrastructure, several factors have started hindering the growth of the financial services sector. These factors include:

  • Weakening global economy: Prominent financial services providers have started looking out for alternative solutions to sustain their presence in the market with the recent economic downturn. Additionally, with the recent Brexit issues, financial services providers are going through a prolonged period of negative growth and drastic fall in investments owing to lower economic growth.
  • Digitization: Today, leading financial services firms are relying on high-level IT operations to optimize their business process and interact with customers in a seamless manner beyond the conventional banking system. A recent research report also illustrates that 40% of the US citizens are not walking into the banks to make their monitory transactions, owing to the digitization of banking services.

Many such factors are compelling financial services providers to leverage the use of social listening solutions. Social listening solutions help firms solve consumer challenges and reduce negative brand perception. QZ- Request free proposalThese solutions also help establishments harness the power of social media to connect with a broader set of consumers and understand their reaction towards new products and accordingly develop promotional campaigns.

The Business Challenge

The client, a renowned financial services provider with business units spread across the globe, wanted to leverage the use of social listening tools to categorize the emerging trends in public affairs. Additionally, the client wanted to comprehend the preferences of the customers and implement effective strategies to maintain a positive brand image and identity in the financial services landscape.

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The Solution and the Business Impact

Strategies we recommended based on our analysis to identify the current social media trends

Quantzig’s social listening engagement helped the financial services provider gain real-time insights into consumer opinions and preferences, which helped them assess the number of followers and impressions on social media. Additionally, the client enhanced customer centricity, enabled better product offerings, and improved customer loyalty.

Social Listening Predictive insights

With the help of Quantzig’s social listening engagement, companies can profile their target audiences and drive targeted campaigns. Firms can also effectively monitor conversations to understand the complaints and adopt appropriate communication strategies. This will help them tailor offerings based on customers passion and perceptions.

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Social Listening Helps a Multi-Brand Retailer Develop a Robust Social Media Strategy

Client: A leading multi-brand retailer in the US with more than 500+ stores across the country

Typically, the retail industry comprises of organizations selling commodities for household consumption. Today, the customers across the retail industry space are craving for convenience, creativity, and authenticity in the products being offered owing to the recent shift to a more customer-driven economy. Additionally, the growing concern for healthier lifestyles is promoting the growth of the retail industry amid altering consumers’ preferences and the rising consumer spending habits.

However, the future of the retail sector depends on the key factors that are expected to influence the growth projections in the coming years.

  1. Online Retailing: Today, consumers have started looking for convenience while purchasing products owing to the relentless growth of technology. Moreover, a move toward a more agile and seamless digital experience is expected to address the purchasing discrepancies among the customers across the retail industry.
  2. Higher Disposable Income: The disposable income of the customers was subject to fluctuation due to the great This had affected the customer’s buying behavior. With the steady recovery of the global economy, customer spending power is expected to rise in the coming years.

These factors are forcing organizations operating in the retail industry sector to leverage the use of social listening solutions. Social listening solutions enable firms to capture, analyze, and interpret the opinions, voices, and sentiments of stakeholders from diverse sources across the extended enterprise in a systematic way. QZ- Request free proposalSocial listening also helps retail industry firms to align product positioning with customer expectations, develop features, products, and services for local markets. Companies can also improve customer satisfaction with personalized marketing and customer service across micro segment customers with the help of social listening.

The Business Challenge

The client, a leading multi-brand retailer in the US with 500+ stores across the country, wanted to leverage the data generated on the web and social media about the retail industry, their brand, products, offers and discounts, customer issues and competitors. They wanted to improve decision making and enhance customer satisfaction owing to the increasing pervasion of digital technologies. Moreover, due to the widespread reach of the business, it was not possible to create a strategy or analyze the “voice of customers” across all segments of the shoppers that visited their retail stores. As a result, they wanted to go beyond tracking basic metrics on social media and develop an operational strategy for enhancing customer centricity—yielding benefits in better product offerings, higher brand recognition, and stronger customer loyalty.

Our Approach

  • Defined use cases in the following areas, before developing a dictionary for entity extraction
    • Sentiment Analysis (Brand, Category, and Product level)
    • Customer Issues
    • Competitor Analysis
  • The client had provided six months of historical data (from some of the social media sources) while Quantzig scrapped the rest of the data from online sources which included
    • Facebook
    • Twitter
    • Pinterest
    • Reddit etc.
  • Data scrapping was done using a multi-server set-up and parallel data crawling and extraction techniques.
    • Developed and automated scripts for data cleansing
    • Stemming and Lemmatization
    • Applied Natural Language Processing (NLP) techniques for entity extraction – names, locations, shopping experience, product, etc.
  • Topic Modelling to automatically classify comments, phrases into major categories and identity main characteristics of each topic
    • E.g., Price comparisons for fashion accessories being sold by the same brand in clients and competitor stores, etc.

Key Findings and Business Benefits for the Client

Strategies that we recommended based on our analysis to analyze unstructured data from web and social media sources

  • By analyzing the data from sites like Pinterest, the client created a dedicated section for highlighting items that were frequently ‘pinned’ for each brand
    • Categories like leather accessories, handbags, men’s shoes were the most frequently pinned categories
    • We recommended that they stock inventory levels for each store based on the local interests of the customers
  • Identified aspects of individual brands within the store that influenced customer segments. E.g.
    • ~50% of the customer had negative sentiments about the assortment, fit and sizes for a specific fashion label
    • Lack of availability of options was the top complaint
    • These findings helped the retailer to plan for appropriate size distribution and improving the assortment based on seasonal shopping patterns
  • Provided inputs to the marketing and sales function to align promotions and social media campaigns based on the current topics of interest for meeting customer demand
    • Updated the marketing teams regularly on the shift in polarity (Positive to Negative and vice-versa) for them to improvise marketing campaigns
  • Analysed comments about price comparisons and discounts for same products being sold by competitor brands
    • Customers were not satisfied with the discounts and prices of product in the leather accessories and home retail sections, due to better deals being provided by competitors
  • Share of voice for top brands for the client as compared to their competitors
    • For sports merchandise and fashion apparels, the competitors share of voice was almost 3x
  • Identified which outlets were perceived as providing the best value – quality products at reasonable prices
    • ~ 60% of the comments classified the retailer as a ‘value for money’
  • For leather accessories and home retail sections most of the products were either ‘cheap’ or ‘expensive

To know more about how our social listening engagement helped a multi-brand retailer in the United States

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Leveraging Social Listening to Identify Emerging Trends in Public Affairs

In recent years, retail organizations have started facing the need to implement robust assortment planning to understand their consumers’ perspectives and that of their competitors. In the retail sector, organizations are leveraging the use of social listening to listen and analyze consumers’ preferences and make informed and consumer-centric decisions. Also, various retailers in the retail chain are resorting to social media listening to determine gaps in the assortment strategy and pricing perception to further shape the value proposition. Through a detailed social listening study, retailers can maximize social chatter to identify the pain points of desired products and adjust inventory levels based on consumers’ demand.

With organizations shifting toward a consumer-centric model, leading retail chain have started focusing on implementing social listening tools to solve consumer challenges and reduce negative brand perception. With years of expertise in offering social analytics services, Quantzig’s solutions help clients provide better products and service transparency. Also, Quantzig’s social listening solution helps businesses harness the power of social media to connect with a larger set of consumers. Furthermore, the engagement also helps clients understand the market’s reaction to new products and effectively measure the success of promotional campaigns.

The Business ChallengeQZ_DEMO

In the current market landscape, social media acts as an effective platform to voice out views and opinions. Social media becomes more vital in advocacy campaigns, where one can effectively monitor the conversations and take actionable decisions. Like several other organizations in the landscape, a renowned retail chain with considerable stores spread across the globe wanted to leverage the use of social listening to identify emerging trends in public affairs. The client wanted to understand the tastes and preferences of the general public and implement effective strategies to maintain a positive public image and brand identity in the retail chain landscape.

Social listening-00

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Predictive Analytics Solution Benefits

Through a robust engagement, the client was able to leverage social listening capabilities to make informed assortment and inventory decisions. Also, the engagement assisted the client in effectively adjusting inventory levels by stores and department. With the help of predictive analytics, the client also derived real-time insights on consumer opinions and preferences,  assessed the number of followers and impressions on social media. Furthermore, the assessment helped the client enhance customer centricity, enable better product offerings, and optimize customer loyalty.

Predictive Analytics Solution Predictive Insights:

  • Tailor information based on customers passion, perceptions, and concerns
  • Effectively monitor conversations to understand the complaints and adopt appropriate communication strategies
  • Gain better visibility into the competitors and devise an effective marketing campaign
  • Comprehensively profile their target audiences and drive targeted campaigns

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Why Your Brand Needs Social Listening to Enhance Customer Experience

Modern-day consumers have come a long way and maintain a high expectation from any brand. They are ready to vent out their dissatisfaction on the digital medium, making it visible to all. Such act leaves all brands vulnerable to threats that may hamper their image. However, on the contrary, customers can also share positive experiences with a Free Proposalbrand, creating a positive brand image and building brand loyalty. To better understand consumer behavior and satisfaction levels, brands need to resort to social listening to know what consumers are saying about them. It is only by getting such information, can a brand adjust their strategies and remain competitive in the marketplace.

Social listening involves watching out for patterns, tracking sentiments, and drawing conclusions based on conversations taking place involving the brand. Social listening merely doesn’t mean reviewing the brand mentions and comments on the social profile. In most cases, consumers don’t even mention the correct brand name or take the pain to tag them. Also, social listening isn’t limited to just listening; brands should be able to respond to user feedback and complaints promptly.

So why is it vital for a company to employ social listening?

Performance Measurement

Digital analytics tools such as sentiment analysis, audience metrics, and customer engagement gives the ability to measure the brand performance in both qualitative and quantitative terms. Using such tools, a marketer can analyze the performance of short-term campaigns and modify campaigns based on user feedback.

Edge Over the Competition

The transparent nature of the digital medium allows companies to assess the performance of the competitors as well. Markets can figure out what consumers are talking about competitors, why they are sticking to them, and the reasons for them to be dissatisfied with them. Brands can leverage social listening to join the conversation on frequently discussed topic and get valuable feedback from the customers.

Identify Influencers

The advertising landscape has drastically changed over the last few years. Traditional advertising messages are losing its influence as people are looking up to industry influencers for their purchase decisions. Active social listening can help a brand identify key influencers by analyzing their total fan following, frequency and volume of their online activity, engagement rates, and platforms they are actively using.

Product Development

Social listening is a great tool to gain customer feedback on a product to modify, make necessary changes, and develop a new product.  It acts as a focus group study on a large-scale, where businesses can receive honest customer feedback to incorporate it and develop a product that is desired by the end users. One of the best example of such social listening in action is that of chips manufacturer Doritos taking in user feedback and introducing new flavors.

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