“How are you feeling?” used to be such an innocent question. Often asked in such a way that it was apparent that no real true answer was needed, the answers to the “How are you feeling?” or “How are you doing? questions only really mattered in a doctor’s office. As another way to greet a coworker or friend, these innocent questions were simply a polite part of every day conversations. Something you asked, but never really intended to listen for an answer.
My, how times have changed.
With the use of semantic extraction software, for example, it would appear that every business in every part of the world is now concerned with how customers are feeling, what they are thinking, and what their intentions are. In fact, semantic extraction software is now so common that companies who are not making use of it are falling behind. Without the use of sentiment analysis software and other kinds of social media data analysis, companies are missing out on valuable data that they could be using to predict future sales trends and likely purchase decisions.
In a time when so much digital data is available, it should come as no surprise that there is an entire industry that uses semantic extraction software tools and other processes to help anticipate the items that customers will buy in the near future. In its most simplest form, semantic extraction software and software sentiment analysis tools track your internet searches and make sure that your media feeds feature the brands, products, and services that you have spent time researching. Whether you looked at the price of a one way ticket from the April Fool’s cold of the midwest to the hot dessert of Phoenix on a whim or if you are seriously considering purchasing a new 2018 crossover vehicle, your next visit to your favorite social media site will treat both of your searches with equal value.
Text Mining Software Serves a Variety of Marketing Purposes
We live in a digital age, a time when more and more people do their shopping at home from the comfort of their own recliners. As a result, digital marketing teams have discovered that there is a way to track the online searches that you complete and use that information to prompt you into booking that hotel, purchasing that yoga mat, or placing a bulk order for that sidewalk chalk for your children. What was once ineffective and easy to avoid in person marketers with a clip board at the mall of an annoying telephone marketing ploy has transformed into a pervasive, and nearly constant, reminder of nearly every internet search that you have conducted. Not even a personal investigator looking for dirt on your cheating husband could be as thorough.
And while there are some people who worry about invasion of privacy when their internet searches come back to haunt them on their social media sites, there are also a number of people who realize that you are often able to find some real deals if you take advantage of the pushed promotions that show up in your news feed. If, for instance, you do not immediately book that hotel for your family’s summer vacation, chances are that you will eventually receive an email offering a discounted hotel room from a competitor. In fact, if you sit quietly after a single evening of vacation accommodation searches you might actually find yourself a real hotel and rental car bargain a week later. Consider these marketing ploys as your own personal shopper and you can quickly transform from being annoyed to being overjoyed when you get a 50% off coupon from a hotel that may have initially been completely out of your price range.
The latest research indicates that the value of the text analytic market is at an estimated $3 billion. In the near future, however, it is forecasted to reach almost $6 billion by the year 2020. If your company is not already taking advantage of the fact that Facebook has 1.97 billion monthly active users worldwide, users who produce an enormous amount of data every second, then you are losing valuable and achievable marketing ground.