Not a day goes by where people aren’t utilizing social media to either read or watch content or more importantly, to share their thoughts or opinions on a particular topic. In fact, according to Talkwalker, there are:
- 600M+ tweets per day, that’s 6,000 every second
- 400 hours of video content uploaded to YouTube every minute
- 500,000+ comments posted on Facebook every minute
Social media usage is at an all-time high and continues to grow by the second. This is an amazing opportunity for marketers to capitalize on gaining valuable insights from these digital platforms. One impactful way to do so is by using sentiment analysis.
What is sentiment analysis?
As defined by Lexalytics, “sentiment analysis is the process of determining whether a piece of writing is positive, negative, or neutral”. While this can certainly be done manually, depending on the volume and scale of your reach, it may be advantageous to hire a company that specializes in sentiment analysis. Those companies have automated systems that use machine learning and natural language processing techniques that can help you gather all of your online mentions and provide you with a thorough report that will reveal overall themes, emotions, and topics that are often associated with your brand.
How marketers can use it
Knowing what your customers think and how they feel about your brand is truly invaluable. What used to involve creating numerous surveys and interview questions and trying to get people to respond is unquestionably a tedious task. Now, with the advent of new technologies, companies can acquire the same information quicker, more efficiently, and on a much larger scale.
By utilizing sentiment analysis, marketers are better equipped to:
- Manage their brand reputation
- Avert a potential crisis
- Improve the customer experience
The more information you have, the more insight your company will have on the true, unsolicited thoughts of your customers. Sentiment analysis can be seen as a candid view of your customers’ thoughts about your brand and your products. You may also discover common themes, hopefully all positive, but if not, negative feedback is also very enlightening and helpful. By knowing what your customers think, you’re able to make better business decisions that are in line with their needs and can potentially address and even improve their experience with your brand in the future.
As marketers, there is always an opportunity to gather more insights from our customers. Now, with the advancement of technology, there are various sentiment analysis tools out there that can help marketers improve their brand image. While there are obvious benefits, there also some challenges to using sentiment analysis as well. While the insights you gather from this analysis may open the door for new opportunities to grow or improve your current efforts, the results are not always 100% accurate and may not be completely representative of your customer base. Use the insights gathered wisely and be sure to use additional data to support your future decisions and you’ll be well on your way to making a significant improvement in your marketing efforts!