Networked Insights, a company aiming to connect businesses with real-time customer-to-customer interactions, has launched after securing $4 million in venture capital funding.
The Wisconsin-based company combines a social networking platform with a suite of data mining tools to deliver reports based on customer discussions. The firm says this provides insight into why the customer is buying, what resources are used to inform their decision, how the purchase meets their needs and what factors drive loyalty.
Customers join an 'interaction network' on any Networked Insights enabled web site and can immediately engage in direct conversations with other consumers about issues that are important to them. To encourage them to use the networks, customers are given points which can be redeemed for discounts and cash.
'What was once a company controlled process is now defined by customers,' said Founder and CEO Dan Neely. 'We give customers a platform on which to communicate and connect, and make it easy for companies to compile and execute on the wants, needs and sentiments of their customers.'
Before setting up the firm Neely co-founded and then sold Market Performance Partners. He previously spent time at Scient and Deloitte.
The company has a staff of eight and expects to grow to forty by early next year. Its web site is at www.networkedinsights.com.
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.