Thursday, February 7, 2013

How Can Sentiment Analysis Benefit Your Business?



As business enterprises increase their social media footprint, their organizational success is fast being decided by the effectiveness of their social engagement strategies. You have to be spot-on in knowing what your customers’ likes, dislikes, wants and needs are. Their intents and sentiments that they so candidly express on the social media channels through chats, reviews, forum discussions, tweets, likes and shares on Facebook, Twitter, LinkedIn, YouTube etc are the bedrock of your social media strategy.

So, how do you know your customers’ sentiments? I believe that the answer lies in Sentiment Analysis.

Some of the modern social media analytics products use advanced Natural Language Processing (NLP) techniques to conduct detailed, exhaustive investigations of social media users’ sentiments. Using Sentiment Analysis, organizations can assess the tone of voice and the nature of feelings expressed behind every word that their social audience post online on the social media channels and then classify them as positive, negative or neutral sentiments. 

 
Business Benefits of Sentiment Analysis

1) Improve Customer Service 

As I already mentioned earlier, Sentiment Analysis gives useful insights about your current and future customers’ purchase preferences, brand affiliations, topics of interests, opinions, point of views on discussions, likes and dislikes in products/ services and much more. This useful information lets organizations to drastically improve their customer service and engagement strategies by building on the positive sentiments and formulating methods to combat negative sentiments.



2) Revive Brand 

One of the best uses of Sentiment Analysis is that it allows organizations to quantify perceptions – about your brand, products and services, marketing campaigns, social engagement initiatives, online content etc. Organizations can use this information for devising better and more effective branding and marketing strategies and thus improve your brand reputation.

3) Beat Competition

Sentiment Analysis lets organizations to know sentiments surrounding your competitors too. This allows you to benchmark your performance against that of your competitors. Using the reported sentiments, you can also predict trends and develop your specific social strategies to leverage these trends.

4) Gain Business Intelligence 

Sentiment Analysis empowers organizations by providing extensive, insightful information regarding their target audiences’ sentiments. Made use of correctly, these sentiments are a gold mine of newer business possibilities and opportunities. Thus, Sentiment Analysis provides you insightful business intelligence using which you can take impactful decisions that would leverage your business.

Shout Analytics is an advanced social media analysis product that offers Sentiment Analysis. To find out more, write to info@shoutanalytics.com.

7 comments:

  1. The rules of social media are up to you as David says, treat Facebook, Twitter, LinkedIn and other web and social media like they are a real cocktail party,but we should use that in the good manner.php development bangalore

    ReplyDelete
  2. This is great post i love to read this type of post
    thanks for sharing .
    please contact to Rich Media for analyzing thanks


    analyzing company of your brand

    ReplyDelete
  3. NICE BLOG!!! Thanks for sharing a nice information. NLP
    Bangalore

    ReplyDelete
  4. For best and cheap manual Seo services, Web designings. Must check Web Design Bangalore

    ReplyDelete
  5. This blog is having the general information. Got a creative work and this is very different one.We have to develop our creativity mind.This blog helps for this. Thank you for this blog. This is very interesting and useful.
    PHP Training in Chennai

    ReplyDelete