In this age of connectivity, the race for reach is a neck-break combat. Grabbing some for itself, Yelp, the local business intelligence company has shook hands in a deal with enterprise social media monitoring platform, Sprinklr. The partnership will allow both to leverage each other’s data and reviews to enable business and marketers analyze reviews and sentiment data.
Yelp will bring full-text reviews, business insights, and sentiment analysis to Sprinklr clients, around 1,000 brands globally, claims the company. However, the terms of the deal were not disclosed.
How the Sprinklr-Yelp partnership helps enterprises
While Yelp reviews and listings provide the local element of hundreds of products, services, and apps around the world, the base it needs, Sprinklr is the first company to offer businesses insight and sentiment analysis of that data. This will not only help enterprises track what their consumers say about them online on various social networking sites like Twitter, Facebook, You Tube, etc. but also gauge the feed and determine the highs and lows of the market. In other words, the digital documentation of user experience can now be licensed for marketers to understand their customers and their patterns based on ratings. Brands now can analyze reviews and sentiment data from Yelp to extract insights and act on them to drive business outcomes.
Chad Richard, SVP, Business and Corporate Development, Yelp, said in a blog post
“Yelp data is the ultimate resource for local business intelligence and up-to-the-moment intel on consumer feedback, and this partnership gives a never-before-seen look at this data that is enormously helpful to brands trying to improve their customer service and product.
“Yelp data is already used to power local info in the auto industry, search engines, and hundreds of apps and services because we have better quality, more in depth intel than anybody in the business.”
In addition, Sprinklr also allows big brands to understand the conversations that trend over time that speaks highly of the company reputation and exactly how customers feel about specific different dynamics of businesses’ including their service, management, value ads, locations and many more. At the same time they mine Yelp review text to create word clouds and sentiment scores, among other tools.
This news comes ahead of a dipping in the prices of Yelp’s stocks from $47 to $17 which could have motivated the company to divulge data and partner with Sprinklr.
According to a report in Advertising Age
, Kristin Muhlner, Executive VP, Sprinklr, said, “Yelp provides very deep content at a location specific level. Yelp is an obviously interesting and very unusual source of both insight and engagement because it provides very deep content at a location specific level.”
“Brands want to directly engage with the customers and Yelp’s data is something most retailers do not have,” Muhlner added. “This data is a great way for brands to directly respond to them. So, the engagement aspect of this can be quite powerful; if you engage a disgruntled customer and turn them around they’ll then become your advocates. With that kind of engagement strategy it drives other people to talk about them.”
In November last year, Sprinklr, acquired audience segmentation and management platform, Booshaka
. Booshaka’s “one-click connector technology” culls data from leading technology platforms – including ExactTarget, Marketo, Shopify, and Stripe – and automatically generates smart segments from customer activity that sync to Facebook and Twitter as custom audiences. It helps marketers link customer data across social, web, mobile, ecommerce, and CRM systems. When combined with Sprinklr’s platform, marketers will be able to easily act on these audience segments, creating and managing social advertising campaigns.