Social Media Mood Tracking via Sentiment Analysis
Social Media Marketing | Sentiment Analysis | Social Media Optimization
People who run an online business keep a close eye on the metrics that determine their holistic business performance. And, diving deep into such data analysis marketers gets mad about bringing more and more sales and attracting more and more customers towards their brand.
Indication: marketers have become obsessed with data!
Yes, it tells us how crucial customer data is, but it also means that we need to look at customers beyond data points. Customer’s feelings and emotions do matter to alter their behavior and patterns in recognizing their will and intent towards your business brand.
With people reviewing business products on social media, providing their good/bad feedback online, and rating the purchased item as per their close experience with it: what do you think they are doing with all these attempts?
They are merely expressing what they feel about a brand and are also influencing the purchasing decisions of others in an indirect way. Now I think a business owner can well relate to the sales index going up or down.
Sentiment Analysis is a need of the hour technique which can help you get more close to your customers and won’t let their emotions fall aside. It's a crucial part of digital and social media marketing and soon will become an indispensable tool for companies that can glean new insights and better understanding of their potential customers.
What is Sentiment Analysis?
In defining terms it is a text analysis that determines the negative/positive opinion of the mentioned text in a sentence, document, paragraph or even a clause.
Knowing the customer’s intent is essential for a business as today, people are more open to express via surveys, questionnaires, quizzes, feedback, and many other modes.
The phenomenon not just gives an insight into what people are talking about a brand over the web but also predicts what the consumers feel about it. Do you think all the mentions towards your business brand equals positive mentions?
NO. A sour truth!
Nevertheless, Natural Language Processing (NLP) gives us the power to employ sentiment analysis at its best. It can help mine the big texts to identify negative mentions of a brand and try to mitigate the implications thereafter.
NLP can be used decisively to analyze social conversations occurring online and can help to determine the context applied to a brand or a theme. Net sentiment score gives deep insights into metrics that showcase how users feel about a brand, on what basis they consider it good/bad and on what part they compare it with others (competitors).
% positive – % negative = Net Sentiment Score
Sentiment analysis delivers impactful insights.
Identify the Emotions and Depth of Feeling
Emotions, if we define on social grounds, are big, bold, passionate and realistic, and in a true state are the driving fuel to acquire social shares for your recognized brand.
It's primarily significant to know everything social users share and if one is unable to identify and analyze all that shared sentiment, it would be a hard task to know what matters the most to your target audience and potential customers.
Social Media Sentiment Analysis asks you to monitor web conversations and learn the itinerary:
- Positive-Negative emotions of consumers (Net Sentiment)
- The strength of the captured emotions (Passion Intensity)
Viewing these from a laser focussing lens of conversations, these metrics can help in establishing Brand Passion which caters to a critical value that informs what actions to take next.
The decision here is to look beyond your brand and focus more on customers intimately in order to know their emotions and depth of feelings in a relative case.
Major Aspects of Sentiment Analysis
# Social Media Analytics
What is Social Media Analytics?
The act of gathering valuable information form social platforms and web content to make feasible and insightful business decisions. It's an art and science of extracting valuable information from tremendous amounts of unstructured/semi-structured social media data.
It requires in-depth analysis beyond surface level metrics to closely understand the audience down at the customer level. Its common use is to focus on audience sentiment and insights where Natural language processing (NLP) aids to obtain accurate customer sentiment results.
Some reliable Facts:
- There are around 2.3billion social media users
- Top social media sites are Facebook, Youtube, Twitter, Instagram, Reddit
- Social Media Analytics became mainstream in 2010
# Social Media Listening
“It's not just everything to do with your brand but it's about what your customers and consumers most care about.”
What is social media listening?
Social media listening is a process to monitor, segment and analyze social media conversations to measure brand reputation, sentiment and effectiveness of brand marketing to get insights over the efforts made to build a customer base.
Your customers’ say and belief can let you know everything about your audience, their intent, their needs as well as expectations.
Social listening is a concept that needs searching the web space to scrutinize what’s being said and portrayed about your company, products, services, competitors and other topics of interest.
There are myriad different ways to use social listening for your business.
Some Reliable Facts:
- 75% of companies do not know where their most valuable customers are talking about them.
- More than 60% of global consumers engage in social media platforms every day.
- Users have an average of 5.54 social media accounts.
Today, marketing is based on veridical factors not on superficial ones where the customers expect everything and every aspect to be revolving around them. A new way of business promotion is accommodated today by marketers that centers on psychographics (opinions, attitudes and behaviors) which describe human traits based on psychological attributes.
And when we delve deep into this phenomenon we get to realize that the global audience of the present era is much more expansive than ever thought.
[Prefer Reading: “Top Reasons Why Your Business Absolutely Needs SEO.”]
Conduct Sentiment Analysis Yourself
Pivoting on sentiment analysis all above, I hope you have understood the overall idea on how to be more close and hooked with the target audience. Now, let’s get familiar with some hand-held ways that can help in conducting sentiment analysis for your business brand.
#Find out Where the Talk is Held
As more and more people are scrutinizing brands closely and comparing them minutely on social media it calls for enterprises to pay heed to their social mentions, especially on channels where they address you directly.
This gives you an opportunity to handle and address both the praise and criticism in a timely manner that eliminates the chances of breaking your highly built reputation. Next, need not miss monitoring review forums(like Google Reviews) and third-party sites (like Yelp).
The website reviews/ratings/feedback/comments are also valuable and contribute a lot in providing customer insights towards your brand. Monitoring by hand becomes time-consuming and troublesome but can be overseen by implementing a productive tool.
#Personalize your own Terms for Sentiment Analysis
This relates more to searching and sorting of keywords or terms that best highlight the customer’s sentiment. The main motive is to separate positive mentions from those of the negative ones.
There is a need to divide the sentiment terms on a positive and negative basis but should be relevant, straightforward and can be industry-specific too. Say, your positive-negative expressions could be like:
- Amazing, thanks, best, perfect, considerable, etc. (the positives)
- Bad, neglect, hate, worst, unsatisfactory, etc. (the negatives)
#Give a Contextual View to your Mentions
This is where you can’t fully rely on only the positive-negative sentiment terms to give a clear analytics report as they both can be included in a single comment or review.
Also, sarcastic comments can cause confusion when we dig into sentiment analysis. So it becomes crucial to deal with such outliers. Even though sentiment analysis delivers accurate results, manual listening can be well combined with technology (AI/ML algorithms) that will complete the overall process.
#Use a Sentiment Analysis Tool as a Helping Hand
As said, the tedious, repetitive, and time-consuming tasks can be well handled and organized by sentiment analysis software tools.
With an increasing volume of conversations taking place over the web channels, it seems necessary and worthy to invest in a third-party tool to track the business progress concerning sentiment analysis.
What to incur from third-party tools?
- Monitors positive/negative/neutral mentions
- Analyze how mentions evolve over time
- Determine improvement of brand’s perception(from time to time)
- Organize social mentions in real time
- Track sentiment terms which you want
- And more
[NB: Features may vary as per the tools and their modified versions.]
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No marketer today can afford to ignore the feelings and emotions of their customers relative to what they feel and express towards the products/services offered by your brand.
Thus sentiment analysis is a requisite step to be taken and applied to your business strategies to track the mood of customers and know their intent while socially tracking their conversations over different social media platforms.
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