Last Updated on June 14, 2022 by azamqasim92
Netbase Quid is the market and consumers platform for the next generation. Netbase Quid is the leading social media listening tool.
Netbase Quid conducts market research to see what products consumers prefer. Netbase Quid was founded in 2004 by Michael Osofsky in Santa Clara, California. The market platform analyzes the product competitors and the customer’s background to help product retailers serve the needs and wants of the customer. N-Quid helps major companies like Warner Brothers, Walmart, Nutrisystem, New York Times, etc.
What Netbase Quid Can Do
Netbase Quid leads the advertising business in market and consumer intelligence. Netbase Quid offers many ways to drive a business, including brand health, technology scouting, campaign strategy, crisis management, product innovation, and more.
Understanding Brand Health
Brand Health lets the business person see his product through the eyes of his customer. Business people can learn through feedback what customers like and don’t like about the product and how it compares against the competition.
Understanding Campaign Strategy
Sometimes product promotions need to be tweaked. It starts with creating a profile of the target audience. What kind of customer could use the product? What are their interests? Does your product require an active person rather than a couch potato?
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Understanding Product Innovation
Netbase Quid uses interactive data solutions to scout for surfacing innovations. Researching product innovation focuses on the opportunity to improve on already existing products. Once the search is completed, the product is ready to be launched upon the marketplace.
Understanding Trend Analytics
Netbase Quid studies product competition and sees it the type of product has set a trend. How long will this trend last? N-Quid supplies data to let the client know if he should continue with the product. Once the product is on the market, the product developer will want to know how his audience responds to his product. What is he doing right with the product? How could the product be improved?
Social Media Listening
Netbase Quid uses social media listening to get their clients to collaborate with their teams, understand how their competitor succeed, and what their competitors’ shortcoming are. Coca Cola and Pepsi have been competitors for decades. Without knowing what is going on with one soda comany, how can another soda company make their strategies, goals, and plans? Without using the different media listening tools, a person is selling blindly and getting the wrong kind of audience.
After the Data is Analyzed
Data should be divided into demograpics. Is the product general? Is the product something that spans different ages genders, races, religion, etc? Does the product appeal only to people living in a certain region of the country? Is the product to be used by a certain gender like female cosmetics? Is the product supposed to appeal to a particular age group like a toy for a child? Once a company knows who the product is supposed to appeal to, it is time to market. Through social media listening, what does your audience want from your product.
Once you know who your audience is, you can use a massive email campaign or create ads on the internet to target potential customers. Social media, such as Twitter and Facebook can run your product are to get to your audience.