Social media conversations analyzed with NetBase

NetBase's Insight Composer platform allows customers to monitor and analyze social media conversations and other online content and to engage with customers in real time.

Specifications
NetBase's Insight Composer platform allows customers to monitor and analyze social media conversations and other online content and to engage with customers in real time. Proprietary natural language processing technology, combined with text analytics and machine learning, is used to process billions of conversations from 165 million global sources (including optional access to Twitter's full data stream) and extract sentiment analysis and targeted customer insights in customizable dashboards.  

Cost
Ranges from $2,000 to $2,000,000 per year depending on the number of use cases, complexity, global nature of deployment, and number of users.

Ownership
Privately held.

User
Cavan Reagan Reichmann, social engagement manager at Carmichael Lynch Spong, has been using NetBase's Insight Composer since early 2012.

How do you use it? 
It's all Web-based. Each member of our social engagement team has a login. Once you log in, you set up a topic you want to monitor.

If we need to assess a topic around a brand that's generic, NetBase will quickly categorize all conversations using the terms we searched for to help us see at a glance if the sound bites we're getting are what we want to analyze.

You can create a variety of dashboards to help you to do a deep dive into brand analysis or conversation. You can drill down into data in a variety of ways, including finding key influencers and where conversations are coming from – such as Twitter, forums, or blogs. It gives you a snapshot of brand health and positive and negative attributes and leads you to opportunities to drive conversation. 

Everything is completely customizable, but there also templates. All data is presented in real time, so if we want to learn about one positive attribute we just click on it and everything on the dashboard adjusts and updates live.

NetBase reports all feed into a tool we developed in-house called Social Tracker. 

If anything big or small should go wrong we can always call or email our main contact, who is the director of social analysis. She will quickly go through troubleshooting with us on the spot or get her team involved. They can see what we see and help us find solutions right then. It's never gone down, but they're always there to help us optimize. There's also a full two-day training session called NetBase University. We've been impressed with customer service.

How does it serve your business needs?
We use NetBase at every stage of our business. It helps us develop insights for prospective clients and for new business pitches. For current clients, we use it for real-time management of everything from community to crisis communications. We also use it to measure campaigns KPIs. 

It really helps us spot trends and develop insights quickly. One of most interesting things about NetBase is we can use it to look at a client's competitive set, and sometimes we uncover insights we never would have thought about. 

We can drill into domains and forums and see what people are saying about a brand. For example, for a food client we thought conversations would be focused on weight loss. What we found was the client's gluten-free products were driving conversations. 

NetBase's brand passion index is a key differentiator. It allows us to quickly get a sense of all clients' competitive landscapes and dissect what's happening around their brands. It measures not just share of voice, but also sentiment and passion by attaching scores to levels of passion behind what consumers are saying. 

It knows the difference between words such as “like” and “love” and provides a breakdown of how the passion behind words is categorized. Perhaps one client is getting a lot a lot of share of voice but we can see opportunities to drive passion. For example, in grocery and retail you might get a lot of coverage on value sites but it could be just a coupon announcement and not a full review so there's not really a lot of energy behind it.

How does it integrate with your existing infrastructure from and IT standpoint?
It's Web-based so we didn't have to do a lot of work to integrate. You can easily export anything you want.

What are the main benefits? 
The brand passion index, which determines the energy behind words.

It uses a natural language processor, so it automatically detects tone, sentiment, use of slang, and placement of words in each sentence to determine if it's positive, negative, or neutral. We might get a lot of sound bites from consumers saying something is cheap, and NetBase can figure out if that's negative or positive given the context of the sentence.

Everything updates in real time.

What are the main drawbacks?
Some situations can require a lot of staff time to ensure we're getting the best results for clients. For example, if we're looking for a common or widely used topic, word, or phrase, it can take a bit of time to refine exactly what we are looking for.  

What would you like to see improved / added? 
We've requested various features, which NetBase quickly made available. They're really good at finding solutions for clients, and oftentimes those solutions will become new product features. We were one of the first IPG agencies to work with NetBase and now it's an IPG preferred vendor.

Competitors: 
Salesforce.com's Marketing Cloud: a social marketing suite that includes the capabilities of Radian6, Buddy Media, and more. 

Sysomos: social media analytics services which includes Heartbeat, a real-time monitoring and engagement tool, and MAP, a research and analytics tool.

Crimson Hexagon: provides social media monitoring and analysis software.

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