Sentiment analysis holds up a mirror which helps to reflect the sentiments evoked by your brand’s products and services. Just as a person seeks feedback from their significant others on what they need to keep or change about their personality, brands also need to be open to feedback and to initiate change, if required.
Social listening can help you collect the social sentiment around your brand, followed by the application of sentiment analysis to reveal a surprising lot on what people truly think or feel about your brand.
Sentiment Analysis and Social Media Intelligence
Typically, sentiment analysis helps you get a sense of how people feel about your brand or your product. With the advancement of technology, it’s possible to derive. In fact, Facebook recently faced quite a backlash when it was found to be using sentiment analysis to manipulate people’s emotions, by altering algorithms to track messages which inject positive or negative posts in the feed.
Social listening helps you track all the buzz around your brand as well as that of your competitors too. Sentiment analysis steps in at this point to help you to:
Identify the strong points and the weak points in your performance and your products/services as perceived by your customers, like any strong negative sentiments about your product quality or customer service standards.
Exactly identifying the problem with sentiment analysis
Negative comments report that your customer service department isn’t your strong point because every time a customer calls, they are made to repeat their issue, and even after complaining several times their issue stays unresolved. You now know what is explicitly wrong within the customer service department and can institute a process for complaint resolution.
Judge the public mood before you get into action
Sometimes a novel idea can backfire. Established businesses with loyal customers can also come up with dud campaigns which never take off. Testing the waters to know about people’s perception could help avert a disastrous venture without hampering one’s reputation.
Current Trends and Choices
The best feature of sentiment analysis is how it keeps you informed on current trends and choices, throwing light on the positive buzz around them.
Manage and track issues before they turn into disasters
Sentiment analysis works in real-time to show you the early symptoms of what might be going wrong with your business endeavors. It can help you revise your strategy before a problem magnifies and becomes uncontrollable.
Sentiment Analysis for Competitor Insights
With social listening and sentiment analysis, a marketer does not have to hunt for information about a competitor. This is the best feature of sentiment analysis. You can get an idea of how your audience perceives your brand against your competitors’.
Learning about and from your competition lets you stay ahead and adopt smarter ways. You can judge your competitors’ strategies, products and share of voice in the industry and the amount of hype surrounding them and whether it is all positive.
In case, your industry is brimming with competitors, make sure you look into the details of every one of them to fetch strategic inputs which can help you create your own robust marketing plan.
In conclusion, it must be accepted that AI needs a lot of training before it becomes 100% precise when judging sentiments from comments made by humans. The technology is ever developing and in its present state offers quite an array of benefits already. Marketers today love the fact that the software is tenacious and can filter out hundreds of opinions, which a human might not be able to process in 24 hours, within seconds. This is what makes a social listening tool an essential component of a marketer’s arsenal.