NetBase, formerly Accelovation, is an enterprise social intelligence platform that allows market researchers to measure their social media engagement.
The Net Base Monitoring Platform empowers marketers with real-time monitoring and measurement tools that provide instant and interactive insights into what drives customer opinions and behaviors. The NetBase Insight Workbench provides market researchers with a set of analytics, charts and research tools.
Here’s an example of Netbase’s BrandPassion Index, used to determine competitive analysis of a brand (with a great example of holiday shopping across major retailers):
CustomerBase, the back end tool on which the Social Intelligence Platform operates, crawls the net, indexes the previous 12 months of online activity, and consolidates the thematic sentiments, opinions, and brand perspectives, providing actionable insights.
The key differentiator from other similar tools is Natural language processing. CustomerBase incorporates stop-words such as because, by, for or after that Google and other traditional search engines ignore. Such inclusion allows deciphering the context as well as the actual sentiments, allowing for a better perspective. A case in point: Google would tag burn with a negative connotation, but CustomerBase would consider burn in positive light when the phrase is used in context of a mouthwash.
The second major USP is the sheer volume of data. 12 months of activity equals twenty billion sound bytes from over seven billion digital documents. The company claims to index 50,000 sentences a minute from sources like public-facing Facebook, blogs, forums, Twitter and consumer review sites.
Marketers may use NetBase as a market research tool, to monitor social media, or to leverage their returns on social investment. From their site:
- Make faster course corrections that increase campaign success and resulting revenue. When the social voice tells you immediately where your campaigns are succeeding and why they are struggling, you can act to improve return on marketing spend.
- Increase campaign reach by identifying key influencers and prospects. You know there are “social VIPs” out there – people whose voices are heard as they tell thousands of followers about your brand and your competitors. Know exactly who they are and give them more reasons to engage. Learn more.
- Make new product launches successful by proactively monitoring customers’ reception to the new product as it enters the market and by delivering fast, coordinated responses to the issues and complaints that may arise. Read more about our new product launch tracking solution.
- Monitor brand health more frequently. Make better brand decisions and accelerate responses to brand threats with a comprehensive set of KPIs to measure and manage social brand health in real-time. Read more about our brand analysis solution. To see how social brand health applies to real-world business problems, read the analysis of Starbucks on our blog.
- Predict competitor actions and respond faster to competitive threats with quick, real-time analysis on competing brands. Learn more and see our Brand Passion Index in action on the NetBase blog.
- Understand deep social response to campaigns, in order to make informed decisions. See our blog to learn more about how the Wall Street Journal uses NetBase for its weekly sentiment tracker report.
- Do more with your existing budget and resources. NetBase solutions automatically normalize and structure social media commentary into useful categories and metrics. Instead of manually sorting through thousands of comments, your resources are available to work on improving campaigns.
Today's digitally empowered customers create a challenge for organizations to sell, market and service them effectively. Expectations are higher than ever before, and customers openly share both positive and negative experiences with just a few clicks on review websites, app ratings and social media.