CUSTOMER: YG Entertainment
343+ Employees, 19 subsidiaries in 4 regions (South Korea, Japan, Hong Kong, and USA)
Seoul, South Korea (HQ)
You may be familiar with BIGBANG, 2NE1, WINNER, iKON, AKMU, BLACKPINK, and TREASURE from their string of hit singles. YG Entertainment Inc. (YG Entertainment), founded by creative producer Yang Hyun-Suk 25 years ago, is responsible for creating these bands. In order to find and develop a core of outstanding local performers and song artists, YG Entertainment was founded in 1996. After giving these individuals expertise, the company then unveiled them as "idol group" to millions of fans all around globe. The current market capitalization of YG Entertainment is 1.16 trillion Korean won. YG Entertainment need a response to the following issues in order to stay relevant and guarantee that it can still reach its millions of fans worldwide: Determine the worldwide effect of viral news in numbers. Assist in discovering new markets to grow the company More effectively communicate with individual fans worldwide
The YG Entertainment management was aware that it needed access to conversations occurring on social media and other digital platforms in order to better comprehend its followers and their preferences. To gain a single perspective of the various digital dialogues taking place throughout the globe, the organization chose to deploy a market-leading unified customer experience management (Unified-CX) platform, in May 2020. It currently keeps an eye on more than 30 social media and online outlets throughout its seven idol groups, and tallying. Real-time monitoring of fan conversations.
The South Korean entertainment powerhouse had grand intentions to reorganize its operations so it might more efficiently commercialize from products, with more than 97 million members on YouTube solely. According to Ethan Sunguk Song, Head of Platform Group at YG Entertainment, "We must initially understand our fans and their preferences better before we properly alter the way we manage the business." Despite the fact that the business is not a newcomer to social media monitoring, the business wished to enhance the method they monitored fan chats in order to produce more precise data. YG Entertainment sought to comprehend fan emotions and feelings in addition to the talks that are conducted. As it discovers new, rising marketplaces like Brazil, for instance, YG Entertainment may broaden its business model by utilizing the capacity to compile findings from all over the globe on an unified platform. Receiving AI notifications for early warning indicators Song is aware of the value of patron and fan devotion as a previous marketing executive at a credit card firm. He acknowledges the smart alerts as a crucial tool for reducing company hazards. The adoption of that feature at YG Entertainment instantly yielded rewards. For instance, when UK admirers criticized local distributors of YG Entertainment-licensed goods on online platforms for their customer service, Smart Alerts promptly captured the complaints and notified the headquarters in Korea. "We instantly noticed the discussion on social networks and started an investigation into the regional distribution networks as well as other distributors to make sure the goods were in good shape. We were indeed able to help consumers who were in need right away, " says Song.
With the aid of Unified-CX solution, YG Entertainment was able to organize their fan dialogue monitoring process for a more methodical method that supports its data-driven business strategy.
"Fans determine whether an industry succeeds or fails. By treating our followers like VIPs, we can guarantee they consistently receive the finest experience with us and probably evolve a more intimate bond with them."
The main concern for this South Korean entertainment powerhouse has been, and will continue to be, how to keep YG artist fans fantasies alive round-the-clock without drawing their attention to other alluring rivals. More critically, how can they continue to provide fans with enjoyable, customized, and distinctive consumer experiences? As the firm develops, Song says,". We anticipate looking at additional offerings to grow and stabilize the complete business, from beginning to finish."