Previously we talked about the importance of text analysis as one of the tool for online marketing. There is no doubt of the valuable information text analysis could give us, but more often, the question enterprises asked themselves is: Should We Build or Buy Text Analysis Solution?
Based on a few determining factors and maturity state of your business, below is the basic guideline we’ve round up to ease your decision making process.
So you have started an online business and you’re looking for text analysis solution to integrate into your digital marketing strategy. There is the likelihood that budget could be a main concern, you may have a few hypothesis about your target consumers, but you are not 100% sure and wish to further verify your claims.
In this case, buying the ready-made text analysis solution will be a better choice since building (or in other words customizing) may incur more investment cost on your side. Buying a ready-made text analysis solution such as the Sentiment Analysis API for example, will not only allow for fast integration into your system, it will also be relatively be low or no cost to implement. (Twinword’s Sentiment Analysis API is free!)
Your company has been in business for many years and you are looking for new ways to work around your marketing strategies. Moving away from traditional marketing, you are looking to upgrade to new technologies, such as using text analysis tool to help you to understand your consumers better. You already have basic clear insights of your customer personas and their demographics, but with text analysis you will be able to identify the possible new opportunities and ideas that come from your base of loyal customers.
In the case where there is basic knowledge of customer personas and a relatively relaxed budget, a tailored-made solution to build your own database for a specific clientele base, a customized solution will be what you want to be looking at. Tailored to your specific needs, in the long term and statistically, you can expect your database to grow and update on its own, reflecting information of your customers’ (changing) preferences.
If you visit Twinword Text Classification API page, there is an option named “set” to specify custom taxonomy set ID that is issued to contracted clients. Likewise, Twinword Sentiment Analysis API allows unique set ID for different users, who can directly access the knowledge base specific to the request made.
As the description above suggests, you are in the mass market business, possibly you might be looking at text analysis solution to improve your current product. While it is likely that your customers fall into a wide range of demographics spread, you will want to focus instead on converting large amount of unstructured data/feedback into structured data for you to get soundable insights.
Customization is not recommended here, unless you require a comprehensive text analytical tool. (Integration of 2 APIs is also possible)
When your target market is very niche, it can be difficult to pass the same kind of measurement criteria through. Customizing or building your own text analysis solution would be the a wiser investment for the long run.
Still not sure which is the best solution for your business? Feel free to drop us an email at [email protected] for a non-obligated consultation! Or visit our API homepage for our full list of Text Analysis APIs
You might also like our related blog post: 3 Reasons Why Social Listening Is Essential [Infographic]