For starters, what is customer sentiment analysis?
Generally speaking, it is the application of natural language processing, computational linguistics, and text analysis, to extract information and research on customers to determine their emotional tone about a topic. This is an extremely important tool in today’s social media marketing world! Why? Social media channels are creating a place for consumers to vent about their experiences and opinions on different aspects of a company. It also allows marketers to monitor and understand how a customer perceives a brand through their social media comments by determining their opinion, attitudes and emotional states on a specific topic.
By listening and monitoring your customers’ engagements with your brand online, you can understand how well your brand is being portrayed. Don’t you want to know what is being said about your company? With a complex algorithm, you can! Using an algorithm can also save you time! Can you read 10,000 posts about your brand and identify the tone in each? It is highly unlikely! By tracking data on sentiments through natural language processing, companies can speed up the process of customer satisfaction research and then respond accordingly. By utilizing data, you can create a funnel of success: listen, analyze, understand and engage!
Listen– What are your customers saying about your brand?
Analyze– Determine their attitude about your brand.
Understand– Why are they saying that about your brand?
Engage– Take your findings and capitalize on them!
Why is Customer Sentiment Analysis important for your business?
Here are 6 benefits to using Customer Sentiment Analysis in your social media efforts:
- Measure Success- Companies can track positive and negative reviews of their brand which can help them determine their overall performance.
- Revive Brand– Not only can companies gain insights about how their brand is being perceived, but they can also track how well their social engagements, marketing campaigns, online content, and product and services are being identified. This information can be used for enhancing a company’s marketing strategies for better brand recognition.
- Real-Time Monitoring– Using Customer Sentiment Analysis, you can determine the difference between positive, neutral, and negative comments about your brand. With real-time monitoring, you can respond to negative comments and quickly solve issues.
- Improve Customer Service– As mentioned above, Customer Sentiment Analysis allows for useful insights on customer’s ideas on your company. It also shows what posts interest them through their interactions (likes, comments, shares). When being informed about customers attitudes, customer service representatives can build on positive feedbacks and improve their customer care by tackling negative comments. Overall, correcting performance issues.
- Outdo Your Competition– You can get ahead of your competitors by knowing your consumers. If you know what’s appealing to your customers vs. what’s not, you can beat the competition. You can also predict future trends, always staying one step ahead.
- Customer Insights– We’ve discussed how we can use analysis to determine emotional responses to a brand, but Customer Sentiment Analysis is so much more than a negative, neutral, positive keyword tracker. We can also gain useful demographical insights such as age, location, gender, race, and more to determine who is happy with your company’s products/services and who are not. This helps companies make smart decisions on what products, services, marketing strategies, campaigns, content, and language to use.
At NexGen, we utilize this practice in our social media management efforts to deliver the ultimate customer experience! Want to change the way your company interacts with your customers? Check us out: http://www.nexgenagency.com/social-customer-care/