How Web Scraping for Brand Monitoring is used in Retail Sector
Structured or unstructured, business data always plays an instrumental part in driving growth, development, and innovation for your dream venture. Irrespective of industrial sectors or verticals, big data, seems to be of paramount significance for every business or enterprise.
The unsurpassed popularity and increasing importance of big data gave birth to the concept of web scraping, thus enhancing growth opportunities for startups. Large or small, every business establishment will now achieve successful website monitoring and tracking.
How web scraping serves your branding need?
Web scraping helps in extracting unorganized data and ordering it into organized and manageable formats. So if your brand is being talked about in multiple ways (on social media, on expert forums, in comments etc.), you can set the scraping tool algorithm to fetch only data that contains reference about the brand. As an outcome, marketers and business owners around the brand can gauge brand sentiment and tweak their launch marketing campaign to enhance visibility.
Look around and you will discover numerous web scraping solutions ranging from manual to fully automated systems. From Reputation Tracking to Website monitoring, your web scraper can help create amazing insights from seemingly random bits of data (both in structured as well as unstructured format).
Using web scraping
The concept of web scraping revolutionizes the use of big data for business. With its availability across sectors, retailers are on cloud nine. Here’s how the retail market is utilizing the power of Web Scraping for brand monitoring.
Determining pricing strategy
The retail market is filled with competition. Whether it is products or pricing strategies, every retailer competes hard to stay ahead of the growth curve. Web scraping techniques will help you crawl price comparison sites’ pricing data, product descriptions, as well as images to receive data for comparison, affiliation, or analytics.
As a result, retailers will have the opportunity to trade their products at competitive prices, thus increasing profit margins by a whopping 10%.
Tracking online presence
Current trends in ecommerce herald the need for a strong online presence. Web scraping takes cue from this particular aspect, thus scraping reviews and profiles on websites. By providing you a crystal clear picture of product performance, customer behavior, and interactions, web scraping will help you achieve Online Brand Intelligence and monitoring.
Detection of fraudulent reviews
Present-day purchasers have this unique habit of referring to reviews, before finalizing their purchase decisions. Web scraping helps in the identification of opinion-spamming, thus figuring out fake reviews. It will further extend support in detecting, reviewing, streamlining, or blocking reviews, according to your business needs.
Online reputation management
Web data scraping helps in figuring out avenues to take your ORM objectives forward. With the help of the scraped data, you learn about both the impactful as well as vulnerable areas for online reputation management. You will have the web crawler identifying demographic opinions such as age group, gender, sentiments, and GEO location.
Social media analytics
Since social media happens to be one of the most crucial factors for retailers, it will be imperative to Scrape Social Media websites and extract data from Twitter. The web scraping technology will help you watch your brand in Social Media along with fetching Data for social media analytics. With social media channels such as Twitter monitoring services, you will strengthen your firm’s’ branding even more than before.
Advantages of BM
As a business, you might want to monitor your brand in social media to gain deep insights about your brand’s popularity and the current consumer behavior. Brand monitoring companies will watch your brand in social media and come up with crucial data for social media analytics. This process has immense benefits for your business, these are summarized over here –
Leading brands often face the challenge thrown by infringers. When brand monitoring companies keep a close look at products available in the market, there is less probability of a copyright infringement. The biggest infringement happens in the packaging, naming and presentation of products. With constant monitoring and legal support provided by the Trademark Law, businesses could remain protected from unethical competitors and illicit business practices.
Manage Consumer Reaction and Competitor’s Challenges
A good business keeps a check on the current consumer sentiment in the targeted demographic and positively manages the same in the interest of their brand. The feedback from your consumers could be affirmative or negative but if you have a hold on the social media channels, web platforms and forums, you, as a brand will be able to propagate trust at all times.
When competitor brands indulge in backbiting or false publicity about your brand, you can easily tame their negative comments by throwing in a positive image in front of your target audience. So, brand monitoring and its active implementation do help in positive image building and management for businesses.
Why Web scraping for BM?
Web scraping for brand monitoring gives you a second pair of eyes to look at your brand as a general consumer. Considering the flowing consumer sentiment in the market during a specific business season, you could correct or simply innovate better ways to mold the target audience in your brand’s favor. Through a systematic approach towards online brand intelligence and monitoring, future business strategies and possible brand responses could be designed, keeping your business actively prepared for both types of scenarios.
For effective web scraping, businesses extract data from Twitter that helps them understand ‘what’s trending’ in their business domain. They also come closer to reality in terms of brand perception, user interaction and brand visibility in the notions of their clientele. Web scraping professionals or companies scrape social media websites to gather relevant data related to your brand or your competitor’s that has the potential to affect your growth as a business. Management and organization of this data is done to extract out significant and reference building facts. Future strategy for your brand is designed by brand monitoring professionals keeping in mind the facts accumulated through web scraping. The data obtained through web scraping helps in –
- Knowing the actual brand potential,
- Expanding brand coverage,
- Devising brand penetration,
- Analyzing scope and possibilities for a brand and
- Design thoughtful and insightful brand strategies.
In simple words, web scraping provides a business enough base of information that could be used to devise future plans and to make suggestive changes in the current business strategy.
Advantages of Web scraping for BM
Web scraping has made things seamless for businesses involved in managing their brands and active brand monitoring. There is no doubt, that web scraping for brand monitoring comes with immense benefits, some of these are –
Improved customer insight
When you have in hand and factual knowledge about your consumer base through social media channels, you are in a strong position to portray your positive image as a brand. With more realistic data on your hands, you could develop strategies more effectively and make realistic goals for your brand’s improvement. Social media insights also allows marketers to create highly targeted and custom marketing messages – thus leading to better likelihood of sales conversion.
Monitoring your Competition
Web scraping helps you realize where your brand stands in the market among the competition. The actual penetration of your brand in the targeted segment helps in getting a clear picture of your present business scenario. Through careful removal of competition in your concerned business category, you could strengthen your brand image.
When your brand monitoring team is keeping track of all social media channels, it becomes easier for you to stay informed about latest comments about your business on sites like Facebook, Twitter and social forums etc. You could have deep knowledge about the consumer behavior related to your brand and your competitors on these web destinations.
Improved Consumer Satisfaction and Sales
Reputation tracking done through web scraping helps in generating planned response at times of crisis. It also mends the communication gap between consumer and the brand, hence improving the consumer satisfaction. This automatically translates into trust building and brand loyalty improving your brand’s sales.
To sign off
By granting opportunities to monitor your social media data, web scraping is undoubtedly helping retail businesses take a significant step towards perfect branding. If you are one of the key players in this sector, there’s reason for celebration ahead!