The value of customer insight has always been appreciated by companies, but until recent technological developments, data availability was limited to the larger enterprises.
Thanks to smartphones, social media and big data, all of the interactions people have now can be analyzed to deliver actionable insights to improve your business. And even if you are a small company, you can realistically use these valuable insights to effectively compete with organizations that are much bigger.
Tweet Binder provides one such service by turning tweets into a goldmine of information. And the company just announced it has added Instagram Insights to its platform to deliver similar data from the popular image driven platform too.
As it applies to Twitter, the company uses what it calls “Binders” to tag tweets based on content. When you create a Binder, any tweets containing the defined terms you have assigned will be tagged automatically with the name of that Binder. By the way, this can be applied for hundreds of thousands of tweets in real-time or from the past 30 days.
How To Use Tweet Binder
You can create as many Binders as you need to capture the sentiment of a particular event or product. And if you need to update the terms of each Binder, you can do so at any time to fine-tune your campaign. Brands such as Coca Cola, Google, Heineken, NBC and Paramount are among the many organizations using Tweet Binders to monitor Twitter about their brands.
Instagram reports take a similar approach and give you a range of insights from the Instagram community. These include what users are looking at and interacting with. For example, it includes data on likes, comments, related hashtags, influence, impact and reach.
They also provide user rankings with data sets letting you see the most active, liked, commented and tagged content along with the highest impact a particular piece of content has created.
This type of granular information is important for marketers who want to see what consumers feel about their products. Knowing why consumers like or dislike a product makes it possible to modify items based on real data for different segments of the population.
The company doesn’t have pricing for the Instagram service on its site, but for comparison Tweet Binder starts at $166 for the low end, and $665 for the premium version per month. Granted this cost may price out some small businesses, but if Tweet Binders is used with the right strategy, it can deliver valuable information without having to invest thousands in traditional market analysis.
Image: Small Business Trends via Tweet Binder