Customer feedback is the life’s blood of ongoing competitive analysis. That’s why we always talk about the importance of monitoring such feedback on social – so you don’t miss the insights that could make a difference.
It’s never just about your own brand – you can learn a lot from your competitors’ customers. We certainly do – especially those who’ve become ours.
How do you use customer feedback to go even further with your competitive analysis? We’ll use ourselves as an example.
Here’s what former customers of other vendors had to say about why they switched to NetBase – and how to use such information to improve your own brand.
Where Are Competitors Dropping the Ball?
This is an important question to ask – and it’s why customer feedback is so valuable. When you look at conversations about your competitors on social, you see the unfiltered responses of their customers, speaking to what’s good or bad about those brands.
Look at these conversations through the lens of social sentiment to understand where consumer passions are driving behavior that can impact your brand.
It’s an amazing opportunity – and with features like geofencing you can see how consumer sentiment changes from city to city, state to state, region to region. Then use that information to uncover deeper problems to solve or guide next steps. Or to beat competitors within a certain radius, like Burger King is doing currently:
In our case we discovered increases in customers switching to NetBase in three key regions: North America, Europe and Asia.
This is great information for us to work with as we look at how our platform and its features are perceived on these vastly different continents. We like hearing we’re doing better than our competitors – but if there are other ways we can step things up, we want to know! Don’t you?
Why Are You Winning – Or Losing – Against Competitors?
As you celebrate beating competitors, it’s important to know why you’re coming out ahead. If you don’t, you can quickly end up behind again. Here’s some intelligence our customers shared with us about other social analytics tools, and why they switched:
Your product has to work – all the time. That’s really a no-brainer. But when it doesn’t, you may not hear directly from your customers. They may choose to complain on social media instead – which means you have to be monitoring social feeds for keywords that alert you to such issues. So ,you can solve them quickly.
With regard to competitors, if you have a product that beats theirs, you want to be sure you reach out to these dissatisfied audience segments.
Slow product innovation
All social networks encourage them, and some – like Instagram and Snapchat – are dedicated to them. That makes it extra important to be able to account for sentiment connected to images. Otherwise you’re missing a huge portion of the conversation – especially if the text accompanying the image is limited, or absent.
But this is just one example. Any number of trends may matter to your brand, and you have to know your social analytics software can keep up with current trends. You can’t afford to fall behind.
Knowing this is a pain point for our audience, here are just a few of the updates we’ve made in the past year:
And that’s just a partial list. Additionally, we’ve spoken with top social marketing managers in the US and Canada, and Europe, to understand how those in the industry are using social analytics – to be sure we’re effectively communicating all they can do, and innovating to fill the gaps of anything they can’t.
And, of course, we’ve brought together industry experts and brand leaders at NetBase LIVE to share all that’s happening in the social analytics world, and to expand the knowledge of how our solutions work for our customers and those soon-to-be.
These are just a few reasons our customers have sought us out when their former tools were lacking in the innovation department. But you don’t have to take our word for it. Customers like Visa, Chili’s, Taco Bell, Buzzfeed, GoDaddy and more took the time to share why they choose – and re-choose – NetBase:
Data insights are not integrated
Silos are out – which means you need solutions that bring data together easily and quickly for all who need it to inform brand strategy. Converged media is a must for making rapid decisions based on social data. And other integrations – like CRM and social post scheduling – are needed to keep operations running efficiently. The more your software works with other products, the better.
NetBase was recognized in the Q3 2018 Forrester Wave™ Social Listening Platform Report for delivering “holistic social listening and voice-of-the-customer (VoC) analysis. This vendor combines social data with non-social customer data (e.g., surveys, focus groups, and ratings and reviews) through its collection of NetBase Instant Search, NetBase Pro, NetBase Enterprise, and voice-of-the-customer products.”
So, we know we speak to this need in a way other vendors don’t – and our customers have noted this distinction as well.
Inaccurate/difficult to use
Some of our customers expressed frustration at overly complex social analytics tools. If the need for extensive training delays putting the tools to work, what good are they?
A fast onboarding process is key, as are options for every skill level, and accessible training when you need to learn more. This is particularly important as social analytics expands beyond marketing departments and across the entire organization.
And, of course, your insights have to be accurate right out of the box – as always. If they’re not, you lose your edge while competitors with better insights beat you to market with new products and experiences.
Solutions like NetBase Pro bring you insights with Google-search simplicity. More comprehensive tools are easy to learn with our fast onboarding process and ongoing training and support. Whatever level you’re at, from beginner to pro, you’ll be able to use NetBase right away.
Poor customer support
Customer support is directly related to competitor analysis. If you don’t notice and manage social complaints about your brand, your competitors are all too happy to step in and sway that business in their direction.
We’re happy to provide other vendors’ former customers with our stellar customer care. Problems are always going to happen, but when you handle them well you strengthen the brand-consumer bond. Our newest customers felt their last solution struggled in this regard.
Never Take Your Customers for Granted
We all want to keep our customers happy – but we can never assume we’re getting everything right. Part of our social monitoring has to include uncovering our flaws, so we can address them before our customers seek out our competitors instead.
The customers of many other social analytics tool providers have switched to NetBase – which is a feather in our cap. But we recognize keeping them – and all our customers – happy requires ongoing vigilance and honesty. It could just as easily be us – or any of you – whose customers make a change if we fail to listen to all they tell us on social media and beyond.
So, pick smart solutions – and use them well.
Have you had a free demo of our social analytics software? Reach out and we’ll show you all NetBase can do!