Marketers are obsessed with social media metrics. But most of the time, they need to remember analyzing a post's emotional aspect.
It is no secret that a business that emotionally connects with its customers leaves a long-lasting impression. This is why numerous companies are leveraging sentiment analysis to develop an impactful business strategy that will contribute to their longevity.
You are in the right place if you are a novice to sentiment analysis. The following article will take you through what sentiment analysis is and how sentiment analysis benefits businesses.
Table of Contents
What is Sentiment Analysis?
Sentiment analysis, also known as emotion mining, is a natural language processing technique that involves determining and understanding the sentiments expressed in a text. Sentiment analysis extracts data from social media platforms, news articles, review websites, and surveys to understand the feelings that a customer associates with.
Many businesses use sentiment analysis on social media to understand audience opinion and adapt strategies based on public perception. For instance, you have a new Instagram post about a new product launch by your business. Social media metrics only show your engagement rate, reach, and overall content performance. However, these metrics may not be able to gauge the emotional aspect of the audience.
Implementing sentiment analysis will help categorise the sentiment conveyed by your audience as negative, positive, or neutral. Moreover, by automating the process of gauging emotions, businesses can gain insights into public opinion, customer feedback, and overall sentiment trends, helping them make decisions, manage their reputation, and enhance their products and services.
How Sentiment Analysis Helps Track Social Media Performance
1. Helps Understand Your Audience Better:
Sentiment analysis helps you understand the intent of the opinions expressed by your audience on different social media platforms. This will help you gauge an understanding of the demography of your target audience, their interaction with your products, and common themes in the comments.
2. Helps Improve Your Customer Service:
Emotional mining also helps improve customer service through customer experience analysis. Dynamic mining of chatbot history, customer service call transcripts, customer surveys, and even the messages received by your business on social media platforms helps understand the emotional aspect of customer experience and provides excellent customer service.
3. Gather Meaningful Insight on Brand Sentiments:
You can gather meaningful insight into your brand sentiments and what your customers expect from you through sentiment analysis with the help of experts such as Storyful. This helps you implement plans that address market gaps, build loyal customer bases, and increase conversion rates.
4. Helps Refine Marketing Strategies:
As mentioned above, emotion mining helps understand customer sentiment. Marketers can use this information to refine their copy and develop innovative ideas. This information assists in optimizing existing content to meet your customers' needs better and improve your content's effectiveness. Sentiment analysis can help you understand if your customers like your product or if they want your competitor's product more and how you can enhance your next release.
5. New Trend Analysis:
Sentiment analysis can extract emotions from new trends popular on social media platforms, new channels, and online magazines, helping you anticipate market behavior when you release a new product or service.
Sentiment analysis is essential to tracking how your audience interacts with your brand. However, proper implementation of sentiment analysis is paramount for maximizing the benefits. Experts in sentiment analysis suggest that professional guidance is crucial to contextualize the data and reports of emotional mining. Hence, seeking professional assistance is advisable to fully leverage sentiment analysis's benefits.