Customer feedback is the life’s blood of ongoing competitive analysis. We recently heard from former customers of our competitor Crimson Hexagon about why they’re switching to NetBase. Here’s why we think that was a smart move – and how to use consumer feedback to go even further with your own competitive analysis.
Where are competitors dropping the ball?
This is an important question to ask – and why geofencing is just one important feature of any top-notch social listening platform. You can look at specific geographical areas to 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 you can use consumer feedback to guide your investigation. In our case we discovered increases in customers switching from Crimson Hexagon to NetBase in three all 3 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!
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 Crimson Hexagon, 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.
Slow product innovation
Crimson Hexagon was late to the party on image recognition, which is a problem considering images are a huge part of social. 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, and especially to be able to spot logo sabotage in images.
But this is just one example. Any number of trends may matter to your brand, and you have to be able to stay informed so you know where to focus your innovation efforts. If your social analytics software can’t keep up with current trends, you’ll quickly fall behind in your understanding of what moves consumers. And you can’t afford that.
Data insights are not integrated
You simply don’t have time for siloed solutions. Converged media is a must so you can make rapid decisions based on all your social data. And other integrations – like CRM and social post scheduling – are needed to keep operations running efficiently. The more your software can work with other products, the better.
Takes too long to learn the system
What good are your social analytics tools if you can’t use them? Some Crimson Hexagon users felt the platform required too much training – which means delays in getting started.
NetBase has options for every skill level, and accessible training when you need to learn more. Solutions like Instant Search 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
How you handle consumer problems will make or break your brand. We’re happy to provide Crimson Hexagon’s former customers with our stellar customer care. This is one area brands often fail to consider in their competitive analysis, but it’s table stakes now.
Problems will happen from time to time – it’s how you handle them that matters. For our newest customers, they felt their last solution failed in that regard.
Never take your customers for granted
It’s too easy to assume you’re doing everything right – because that’s what we all want as brands. Part of our social monitoring has to include uncovering our flaws, so we can address them before our customers seek out our competitors instead.
Many Crimson Hexagon customers have switched to NetBase – 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 tools – and use them well.
Have you had a customized demo of our social analytics software? Reach out and we’ll show you what NetBase can do!
Image from Peter Morgan
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