Benefits of Social Media-compressed
In the recent years, the rising need to reduce the dependency on fossil fuel is forcing leading organizations to look for affordable and sustainable solutions such as geothermal energy. Also, with the relentless pressure to shift toward green energy, geothermal energy has become the new mantra for renewable power generation. To meet the rising need for sustainable energy and assess the consumers’ perception about their business, leading companies in the geothermal energy space are resorting to media monitoring studies. In this competitive-scenario, implementing a media monitoring study helps renowned suppliers effectively identify mentions in their organizations and find relevant information about competitors and brand reputation. Also, through the engagement, suppliers can gather industry intelligence in terms of the company’s strengths and identify new opportunities in the geothermal energy space.
To engage with the online customers and benchmark their service with the competitors, renowned suppliers in the geothermal energy space are approaching companies like Infiniti. With expertise in offering services across a wide array of industries, Infiniti’s media monitoring solution helps companies understand their target audience, listen to them, and gain customer insights. Through an effective media monitoring engagement, organizations in the thermal energy space can effectively connect with their client base and act in accordance with their demands and preferences.
The Business Challenge
A renowned geothermal energy supplier with a considerable number of supplier units spread across the globe was facing predicaments anticipating and interpreting public opinion. The client wanted to seek ways to understand the attitudes and preferences of the customers and its effect on the brand image. Also, with the help of media monitoring, the client wanted to avoid issues with customers and vendors that can have a detrimental effect on the company’s reputation. Furthermore, the geothermal energy supplier wanted to implement a media monitoring tool to gain competitor insights, devise market strategies, and value proposition in the geothermal energy supplier space.
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To gauge the overall public sentiment toward the brand, Infiniti’s media monitoring experts carried out an extensive research comprising interviews and discussions with potential stakeholders in the geothermal space. Also, to understand the prevalent market strategies and successfully position the client in the market space, the media monitoring experts at Infiniti also compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.
Media Monitoring Solution Benefits:
- Gained competitive insights into the geothermal energy market and understood competitors’ strategies and value proposition
- Effectively measured media campaign reach and built customer engagement
- Analyzed supplier performance by targeting a specific set of customers
- Optimized the online presence of the brand and enhanced customer engagement
- Gained real-time insights on the latest trends in the geothermal energy space
- Effectively tracked, monitored, and assessed social media activities
Benefits of Our Integrated Approach
With the help of the media monitoring solution offered by Infiniti, the geothermal energy supplier was able to build strong impressions, understand the business objectives, and drive profitability in the geothermal energy supplier space. Moreover, the solution also helped the client identify and analyze customer satisfaction and discover new growth opportunities.
A must-read case study for strategy experts and decision makers looking to develop an understanding of the geothermal energy space.
Customer intelligence helps organizations listen to their customers and address their needs. Customer loyalty and customer experience (CX) are directly proportional to each other; thereby, making it essential for businesses to leverage customer intelligence and other business intelligence services to gain valuable insights. In today’s competitive market scenario, it is extremely essential for companies to focus on the aforementioned attributes: loyalty and experience. However, before leveraging customer intelligence and other myriad market intelligence services available in the market, an organization must answer the following questions:
- Are we listening to our customers and other stakeholders? Have we taken their opinion into consideration regarding our product and service offerings?
- What are the appropriate channels that can be leveraged to gain valuable feedback?
- How do we use these feedbacks to improve decision making, enhance customer experience, and ensure effective customer relationship management?
Real-time CX Monitoring – A Science and Art
Customer intelligence tools allow organizations to monitor customer experience in real-time, making it a science and an art. Businesses must master the art of identifying appropriate channels to capture valuable customer feedback, comments, and insights. Besides this, the management must set up a scientific method to ensure consistency of surveys, measurement, analysis, and report generation. Customer intelligence and other market intelligence solutions allow organizations to capture real-time transactional data from myriad touchpoints; thereby, building customer loyalty and driving customer experience.
Identify the Gaps to Improve Customer Experience
To improve customer experience and journey, organizations must identify the loopholes in the processes and take necessary actions. The key to building customer loyalty is to be proactive and responsive while resolving issues, mitigating risks, and addressing customer service issues. Customer intelligence and other business intelligence services allow the organization to bridge the gap and improve customer journey and business processes.
Customer Intelligence Insights – Change Business Approach
Earlier, organizations followed a transactional approach with their customers and focused on the organizational profitability. Today, businesses have shifted to a customer-centric approach and have made customers an integral part of the entire business process. Organizations can leverage the valuable insights gained from market intelligence tools to develop a proactive customer service framework and facilitate strategic decision making to drive revenue and sales.
To know more about the importance of business intelligence services
- Leverage Customer Intelligence to Build an Effective Brand Strategy
- Mastering Customer Intelligence – Because Customer is the King
- Customer Intelligence Is the Game Changer in Marketing Technology
The competitive market environment and the evolving landscape across industries all over the world has coerced organizations to direct their efforts towards understanding their target audience. With the evolution and growth of the digital media landscape over the last decade, businesses have realized the importance and benefits of media monitoring services. Media monitoring helps brands to understand their target audience, listen to them, and gain customer behavior insights. A majority of the businesses leverage social and digital media platforms but lack the infrastructure and understanding to gain valuable insights. With the help of media monitoring services, organizations can monitor their channels, connect with their client base, and be responsive to their demands. Plus, social monitoring tools are great for free publicity and branding that can be targeted to the appropriate audiences to achieve desired results.
Media Monitoring – Crisis Management
Media monitoring services help companies to anticipate and interpret public opinion, attitude, and preferences that might affect the brand image. Also, it is an amazing crisis management tool which can be used to avoid issues with customers, vendors, government, ambassadors, or the management itself by mitigating it in time. Companies cannot afford to neglect the negative feedback and opinions received from customers as it can harm the company’s reputation and that’s why they must adopt social monitoring tools.
Media Monitoring – Offers Actionable Insights
Media monitoring services are essential at every stage, right from research, new product development, product launch, and competitor analysis among others. The solutions help businesses to gauge the overall public sentiment of the target audience towards the brand, its product offerings, and the company as a whole. Moreover, social monitoring tools can help gaining competitor insights and understand their market strategies and value proposition.
Media Monitoring – Automated Process
Earlier, brands used to hire PR professionals who would rely on traditional media scanning tools which required them to flip through journals, newspapers, and other mediums in their quest to find brand mentions. But with the help of social monitoring tools, the tedious and mundane task has become easy, requires less effort, and is less time-consuming. The automated social monitoring tool allows the brand to measure the campaign reach, build customer engagement, and identify media mentions.
To know more about media monitoring services
Today, every business across the globe have started utilizing social media, a popular cultural phenomenon, and depending on various digital media platforms to understand consumer behavior and gain market insights. Media monitoring services provide a platform to assess consumers’ perception about the organization, brand, and their product or service offerings. Social media monitoring tools allow businesses to improve their product offerings by focusing on the challenges of demand and customer’s preferences. Such services are a boon for every industry, especially the food service industry, as digital media allows food service providers to track, monitor, and assess their performance across several channels. The food service industry can leverage the valuable insights gained through market intelligence studies and various social media listening tools to devise effective strategies that drive organizational profitability.
Media Monitoring Services in A Nutshell
Media monitoring services help businesses optimize their strategies and improve the organization’s online presence; thereby, enhancing consumer loyalty and brand sentiment. As organizations move from a transaction-based approach to a more personal, customer-centric approach, social media monitoring services enable a seamless and smooth transition. With the help of social media listening tools and the advent of big data, businesses can combine internal and external data across different channels and make use of the insights to streamline and optimize their business operations.
Media Monitoring and the Food Service Industry – What’s Cooking?
In the food service industry, customers are an integral part of the entire value chain process, which makes it all the more important for the industry players to monitor their online presence, analyze consumer sentiment towards their brands as well as competitors’ offerings, and build positive customer engagement around the brand. It is also important for the businesses in the food service industry to understand the dynamic market landscape and gain in-depth knowledge of the various stakeholders who have an impact on the business operations and profitability. How can media monitoring services benefit the players in the food service industry, you ask? Here’s how.
- Media monitoring services enables the food service providers to analyze brand performance by targeting a specific customer segment, relate to them, and address their concerns
- Optimize the online presence of a brand across various market segments and streamline processes by driving customer engagement on digital platforms
- Track, monitor, and assess social media activities to gain real-time insights on the latest market trends and gain a foothold in the social space
For instance, Infiniti recently helped a leading food service provider to rebuild their brand message with its media monitoring services. The study helped the food retailer in creating personalized marketing collaterals that would resonate with the consumer’s expectations and boost the overall product sales. Read the full case study here.
The Infiniti Way
The rule of thumb to survive in the market, create lasting impressions, realize business objectives, and drive profitability is to listen, identify, and analyze customer and market information.
“In this dynamic and competitive market environment, it is essential for organizations to gain an in-depth knowledge of their target customers and leverage these insights to improve their decision-making process.” says a leading market analyst at Infiniti research
With more than 14 years of experience, Infiniti Research has worked with several clients across the globe and provided various business intelligence services that has helped them make strategic business decisions wisely. We have worked with over 120 plus clients, including 55 Fortune 500 companies and helped them build capabilities and drive bottom-line growth by leveraging the constant influx of information and data. With the help of our team of expert analysts and consultants, we strive to complement our client’s business objectives to discover growth opportunities and drive business excellence.
To know more about the media monitoring services in the food service industry
Media monitoring services are an easy and effortless way to study and analyze the trends from social media. In simple words, it helps companies gain an in-depth understanding of the changing customer preferences and improves the overall media return on investment (ROI). Media monitoring services enables organizations to gain a comprehensive picture of the impact of their marketing and communications outreach, which subsequently helps in media audit and performance measurement. By leveraging social media monitoring services, businesses can make informed business decisions based on the insights and develop business solutions and strategies to understand the competitive landscape, drive social media effectiveness, and measure brand performance.
Benefit 1 – Media Monitoring and Crisis Event Reporting
Media monitoring services help gauge consumer perception about the brand and the products or services. It also facilitates reputation management and crisis event reporting by closely monitoring news, especially the negative discussions about the brand, its products, and the organization on social media. Media monitoring services allow companies to react to the negative news before they impact the brand image in an unfavorable way and assists in developing PR and communication strategies to get the right media coverage.
Benefit 2 – Identifying Trends and Understanding Customers
Through media monitoring tools and services, marketers can leverage social listening tools that help the brand to listen to their customers to understand the prevailing trends to assess their behavior and patterns that enhance targeted marketing and helps in business and product development. Social media listening tools help marketers to read between the lines and gauge the customer sentiment towards the brand.
Benefit 3 – Monitor Industry Trends and Competitive Landscape
Organizations can monitor their competitor’s activities and study their communications outreach strategies to develop and enhance the changes and trends in the industry. Media monitoring services enable better strategy development by studying the competitive landscape and marketing tactics that drive operational efficiency.
Benefit 4 – Measuring Marketing and Communications Effectiveness
Social listening tools and media monitoring services aid in measuring the effectiveness of marketing activities and communication materials. This helps in assessing the tone of media discussion around the brand and their products regularly. Media monitoring services help in developing customized communication messages that drive media coverage and operational effectiveness.
To know more about the benefits of media monitoring services
With the sudden surge in competition in the global market, organizations are increasingly building capabilities that will help them understand the competitive landscape and anticipate the movement of their rivals. As a result, companies are turning to market intelligence and various other business intelligence techniques and tools that provide actionable insights to facilitate strategic decision making. The key to gaining a competitive advantage is to understand, improve, and leverage market intelligence.
What are the Market Intelligence Challenges Encountered by Organizations?
Organizations often rely heavily on inaccurate and unstructured information sources to gain market insights. Traditionally, companies have followed a one-size-fits-all approach in every market, and have failed to realize that every market needs tailor made market intelligence solutions that can drive profitability in that particular market.
- Businesses procure market and customer intelligence about a particular customer group or segment and apply it to the larger market, and the resultant losses are way too high
- Organizations usually lack the infrastructural capability and the talent required to analyze market intelligence, which leads to complex processes and wastage of time and other resources
- Management often feels that the return on investment (ROI) on market and business intelligence solutions is comparatively less. This happens because organizations often set low expectations and unclear objectives
How Can You Overcome Market Intelligence Challenges? Here’s How
- Train professionals and employees in various analytical techniques, competitive intelligence, and business intelligence tools to gain better results
- Make use of a variety of business intelligence techniques and methods to map, monitor, and track market performance and competition
- Determine and implement key performance indicators (KPIs) that help in analyzing the competitive landscape, stakeholder performance, and market trends
- Constantly update the organizational capability and competitive intelligence maturity level to develop and manage various projects
- Top Three Benefits of Market Intelligence
- The Growth of Specialty Chemicals Industry in Emerging Markets
- IoT and Its Impact on The Public Transportation System
To know more about market intelligence and the challenges faced by the organizations
The growing popularity of internet of things (IoT) enabled devices and smartphones, and the recent increase in the penetration of the internet across the globe has redefined connectivity. Individuals are always connected to the internet from their mobile phones, smartphones, and laptops even while commuting. Earlier, there were some dead spots and lapses in network coverage on the public transportation system such as buses and trains. But today, IoT is set to transform the public transportation system by driving efficiency and increasing connectivity. IoT is the key to improve the transportation industry, which will, in turn, help in redesigning the public transport system.
IoT and Public Transportation System
Connected vehicles or connected transportation simply means vehicles that have Wi-Fi or other sensors that facilitate internet connectivity while traveling. By leveraging IoT enabled devices and networks in the public transportation system, authorities can optimize the routes, lower infrastructural costs, reduce traffic network congestion, and enhance road safety. The public transport system embedded with IoT sensors can be used to track the vehicle through GPS, monitor the vehicle behavior, schedule maintenance activities, and assist the driver in reserving public parking spots for convenience. The data gathered through IoT-enabled devices can be analyzed with the help of various business intelligence solutions and gain actionable insights that can be used to make strategic decisions, assess driver behavior, impart training in required areas, and plan and develop smart cities.
Revamping the Public Transport System – How?
There are millions of people that avail the public transport services and commute daily on buses and trains each day across the globe. This mass network of public transport system generates large amounts of data on a daily basis. How exactly IoT can revamp the entire public transportation system, you ask? Here’s how.
- The public transport vehicles, if embedded with sensors, can alert the maintenance and service teams to schedule maintenance activities, and ensure that the vehicle complies with the regulatory standards and frameworks
- Through IoT enabled devices, public transport vehicles can offer internet connectivity either through embedding in-built chipset or tethering the vehicle with hardware to offer Wi-Fi connectivity to enhance customer experience and improve consumer journey
- The entire transport industry generates large amounts of data through various sources like ticketing counters, vehicle sensors, traffic signals, social media, and personal feedbacks that can be analyzed with the help of business intelligence and customer intelligence solutions to plan services and offer information to their customers
- The organizations can track the vehicle movement, trace the location, monitor the activities, and develop measure to ensure safety
Transportation System and IoT – Roadblocks
The growing dependence of the transportation industry on IoT enabled devices and sensors may help ease out traffic and network concerns. However, the authorities must be able to protect sensitive data and networks to ensure individual privacy and data safety from cyber-attacks. Additionally, developing an IoT enabled public transportation system requires a strong network infrastructure with added investments to ensure that networks have the capacity to scale up and drive automation in the transport network.
- Top-3 Trends that will Drive the Market for Autonomous Vehicles
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- Top 5 Trends in the Automotive Industry for 2017
To know more about the impact of IoT on the public transportation system
To know more about the financial services industry,
The financial services industry facilitates the transfer of funds across the globe – making it an important part of the world economy. The financial services industry includes companies that are involved in various activities such as banking services, insurance, investment management, and securities trading among others. These companies offer banking and financial services to everyone right from individuals, businesses, non-profit organizations, and government agencies. The financial services industry no longer entails tasks and transactions that require a human interface and paper money. The rise of digital technology has transformed the financial services industry; thereby, disrupting the market and its operations.
Financial services companies across the globe have adopted digital technology to automate financial planning and securities trading applications, leverage social media, cloud-based infrastructure, and robotics. Integrating technology with business practices drives better quality, improves customer experience, and minimizes costs. The financial services industry must build a robust IT infrastructure that is responsive, flexible, and efficient. A strong infrastructure will help the companies in the BFSI sector to channel their efforts towards fulfilling the marketplace demands, ensuring that the products and service offerings are competitive, well-designed, and drive cost saving opportunities. In order to succeed, it is de rigueur for the companies in the financial services industry to adapt itself and integrate the emerging trends within its business processes.
#1 Increased Investment in Cyber Security and Analytics
It is absolutely essential for stakeholders in the financial services industry to invest resources to enhance cyber security and leverage analytics to gain actionable insights. A majority of the financial and banking service organizations are turning to cloud-based infrastructure, which facilitates flexible and personalized interfaces, improves customer experience, drives cyber security, and protects the information from external threats and sophisticated cyber criminals.
#2 Increase in Fin-Tech Innovation
Recent fin-tech innovations have lowered the market entry barriers and resulted in the optimization of banking processes through technology. The fin-tech innovations offer platforms that leverage technologies such as blockchain and big data to offer simplicity, flexibility, and convenience to make financial transactions.
#3 Adopting Customer Centric Approaches
The financial services industry has adopted customer-centric approaches to enhance the value of their product offerings and offer a seamless experience to their external stakeholders. The companies in this sector must leverage market intelligence and customer intelligence solutions to gain an in-depth understanding of customers’ demands and expectations and utilize this information to customize the product offerings and ensure the right product reaches the right customers at the right time.