When we talk about sentiments, of course, the word itself carries a heavy meaning, something that we connect with human emotions. But, have you ever wondered, how SENTIMENTS in today’s time are associated with businesses as well? Sentiments have taken over an important aspect of digital marketing. How? Let’s discuss this below.
What is sentiment analysis in social media marketing?
Today, most businesses are analyzing the sentiments of their customers, and based on their reading, they are planning their marketing strategies. Social media is the platform where we are digitally connected to each other, and it is through digital marketing strategies that businesses have their presence online. Hence, there is the need for understanding the mood and responses of the people who are actively involved in the social media world. This is what is referred to as ‘sentiment analysis’ in digital marketing.
How sentiment analysis works?
When consumers respond to social media posts related to the products and services of a business, the information generated is analyzed. In other words, an analysis is made from comments made on social media platforms like Facebook, Instagram, Twitter, etc. whether consumers are reacting to a brand, positively or negatively or they are simply neutral. Sentiment analysis is about evaluating the feeling behind a particular comment. Basically, with the help of social media analytics, businesses can measure the mood and sentiments of consumers on social media.
There are several methods by which sentiment analysis can be carried out by companies based on some algorithms. Some of the popular tools used in social media and websites to analyze sentiments are Google Alerts, Google Analytics, HootSuite, Tweetstats, Facebook Insights, Meltwater, People Browser, Pagelever, Social Mention, Marketing Grader, etc.
Using the right tools is beneficial to achieve the desired result. We can give here an example of the noted company IBM. IBM uses Social Sentiment Index which helps to categorize sentiments on social media. The tool is such that it can distinguish relevant reviews, sarcasm, sincerity, including irrelevant commenting. Analytics and natural language processing (NLP) is used by this software tool to come up with more or less an exact view of what consumers feel.
How sentiment analysis helps in digital marketing?
Companies can use the feedback given in the comments section to work on the betterment of their businesses. The feedback itself conveys the emotion or tone involved to evaluate the brand. Businesses can use sentiment analysis to monitor marketing campaigns, the reactions and emotions conveyed. Companies can use sentiment analysis to evaluate brand perception, and can also judge probable crisis situations.
- Monitor the engagement of the consumers with a product/brand or business on social media
- Track sentiments, whether positive or negative, about the brand
- Sentiment analysis helps to understand your customers in a better way
- Sentiment analysis can help in targeting the right demographics and monitoring the overall feel and mood of the conversation between the brand and the consumers.
- Sentiments, whether positive or negative, are handled proactively to prevent any damage later
- Make a comparison of brand perceptions with that of competitors. This helps in analyzing marketing campaigns and then creating new strategies if required.
- You can optimize your marketing strategies based on sentiments to drive the greatest results.
Sentiment analysis is helpful because it gives the genuine voice of customers. However, it is very natural that machines or software tools may not always give the correct answer to an emotion. For example, if a particular restaurant is highly praised for its food by one customer can also get a review of bad service by another customer. So, in such cases, which sentiment should be highlighted? Human intervention is necessary when using sentiment analysis tools so that you can make a proper analysis and work out a strategy that gives the best result.
Overall, sentiment analysis is needed in digital marketing. Sentiment analysis can help companies improve their customer service, revive or maintain their brand image, overcome competition and obtain business strategies that are required to stay ahead. Sentiment analysis is not just the latest buzz in the marketing world, rather it can be considered as an integral and effective component of your marketing campaign.