Since the dawn of social media marketing as a “practice,” one of the biggest opportunities that this channel has to offer brands is tracking what people are saying from a sentiment analysis perspective. Analysts have developed technology that can track, collect, index, and summarize customers’ opinions about products, goods, and services.
This feedback is available in “real time” showcasing customers’ voices and opinions instantly and can spread across social media just as fast. For this reason, it is just as important that brands “listen to and analyze” these insights in the same manner.
There are some excellent platforms that can roll all of this information up in one place, minute by minute.
By using any of these (and other) platforms, you will get geolocation data, customer preference analysis, and market trending information based on contextual text analytics.
Companies can use these insights to build their brand, attract new customers, and address any issues or problems that might arise.
Here are two ways that most innovative companies are applying sentiment analysis to understand consumers and ultimately power their brands:
- Predictive analytics: Companies can now detect patterns in customer behaviors, and track early product feedback, all of which can drive the evolution of product (or service) development.
- Brand management: Tracking trends between you and your competitors in real time is an incredibly powerful resource to help drive strategy and measure its impact. You will watch and measure how different brands are spoken about by customers (and fans) which can assist in determining your competitor’s weak spots.
What to Watch For
Now, you can know…
- Which brands have the highest social share of voice
- What topics generate the most conversation
- Who are the real influencers for you and your competitors
Taking sentiment analysis into account from a broad base provides a holistic view of how your customers (and potential customers) feel about you, allowing you to build a brand where every opinion counts and every sentiment affects decision-making.
The Future: Implications For Sentiment Tracking
For your company to harness the power of sentiment analysis—alongside traditional and nontraditional media—you now have a much stronger toolkit to fuel growth. I’d suggest you take a very close look at a few of the platforms listed above, you will be impressed by what you learn.