4 Simple Reasons Why Film Industry Should Use Sentiment Analysis?

If you are a movie marketer, head of a film distribution house or even a producer who is looking for some simple, straight answers about sentiment analysis and its benefits, then read on –

What is Sentiment Analysis?      

 

Sentiment analysis and opinion mining is the field of study that analyzes people's opinions, sentiments, evaluations, attitudes, and emotions from the written language. For instance, in a product review sentence, it identifies product features that have been commented on by the reviewer and determines whether the comments are positive or negative.

Why Film Industry Should Use Sentiment Analysis?

1. Understand what the film’s audience wants: 

One of the key capabilities of sentiment analysis is that it monitors, measures and analyzes the sentiment conveyed in the social audience’s conversations as they go about voicing their opinions on the films, its trailers, music videos, promotional events and even its actors and directors. This way you know exactly what your audience feels about the film. Based on this crucial real time feedback from your audience, you can decide what you must do to improve or to sustain your marketing strategies for making the film a box office success.

2. Engage your audience

Using sentiment analysis, you understood what your audience likes to hear and see about the film. Now it is time to give them just that. Do you see a lot of talk about costumes in the film? Post and promote more pictures and videos of that, talk to your audience and find out what they think. Encourage them to try out the same style on them and ask them to share it with you.

3. Review your marketing strategies

Use sentiment analysis to find out what type of sentiment is being built around the film. If the sentiments are largely positive, then it indicates that your film is doing well and that your promotional and marketing campaigns are on track too. However, if there is a negative sentiment brewing against your film, then maybe it's time to reassess your strategies too.

4. Better ROI

Doing a film is a huge investment. However, using sentiment analysis, producers and other important stakeholders, including actors, can get a holistic idea of what genres, storyline, music, dialogue works with the audience and what doesn’t. This valuable information will help you make informed and accurate investment choices and enjoy better returns on your investments.

Wondering What Content Works Best For Your Brand? Try Sentiment Analysis

Content, they say is, king on social media. The content that you post reflects your brand and its attributes. But how do you know what type of content is best suited for your brand? And also, how do you know what type of content do your customers and social audience wants to receive from you?

Harnessing the power of Social Media Analysis tools and Sentiment Analysis are the best ways to find answers to these questions.

Social media analysis tools allow you to closely monitor the reactions to the content posted on your social channels. Similarly, Sentiment Analysis allows you to analyze those reactions and find out how well a particular type of content is being consumed. Therefore, use these tools to –

Study ‘Likes’ and ‘Favorite’:

Closely monitor your content on the social media and see what gets the most likes and favorites. Is it pictures, posts, blog posts, videos, presentations, info graphics, tweets or status updates? Also find out what qualities in the content did they like the most – witty, attention-grabbing, sober or to-the-point?

Now use Sentiment Analysis and find out what people had to say about the content they liked. Did they call it ‘awesome’ or ‘super like’ or did they say ‘thank you for sharing such a wonderful post’?

Likes and favourites are the first indicators that tell you what content is best for your brand. So leverage this to the maximum.

Monitor ‘Shares’ and ‘Retweets’:

People share something on the social only when they feel that that piece of information is useful to a larger community – their friends, customers, colleagues etc. The same goes with Retweets.

These are indicators that tell you what type of content people would like to receive from your brand so that they can share it with many more people. You can also find out whom among your audience shares and retweets your content the most. This way you also know who your top influencers are.

Which Content Works Best?

While plain text (statements, questions, quotes etc) work just fine, photos and videos are hugely shared. Info graphics are popular too. Make your posts valuable by adding links within it to other interesting articles (human-interesting stories, case studies) or combine it with pictures and videos.

So, once you know what content works well and what doesn't for your brand, go ahead and create lots of amazing, interesting content for your audience.

The Fidor Bank Story: A Lesson in How and Why Banks Must Utilize Social Media

In April this year, computerweekly.com published an article based on Ovum’s various studies of the global banking sector where the research agency predicted that “social media will become a significant channel for retail banks in Europe within three years”.

Let me give you one of the finest examples of a bank utilizing social media. Germany’s Fidor Bank was established in 2007.  It is the world’s first online-only bank that operates only through the internet and using social media. From customer service, communications and engagement to new product development, everything happens on social media at the Fidor Bank.

Fidor Bank’s success through social media is best described by Karl Finders in his article when he says, “Fidor currently has more than 200,000 people registered and 150,000 community members. It has €160m worth of deposits, and its lending totals about €100m. With only 34 staff, no branches and a cost of only €3.50 to set up a customer with full banking, the overheads are low compared with traditional banks”. He adds, “Fidor’s customers trust it because it listens to them all the time through social media and customers have a trusted community supporting them”. 

How did Fidor Bank achieve this?

At a time when customers’ trust and faith in their banks was at an abysmal low, courtesy global economic crisis, Fidor Bank’s leadership took a bold move. They were brave enough to rely entirely on social media to restore that trust through personalized social media interactions. They communicated openly about issues related to banking and personal finance on social media. They opened channels on Facebook and Twitter for their customers to interact candidly with them, thus creating a high level of operational transparency. In no time Fidor’s customers realized that this bank was genuine and trustworthy. So, customers who came to Fidor Bank, stayed with it. In fact, even the bank’s customer service is handled by loyal customers on their social community.

Key takeaways from Fidor Bank’s strategy:

• Use social media to overcome the cost and complexity of traditional banking
• Always listen to your customers.
• Make social media a customer engagement tool.
• Increase customer trust through an online community
• Increase sales and improve customer service through enhanced customer communication strategies.

So, would you like to emulate Fidor Bank? To know how Shout Analytics can help you, write to us at info@shoutanalytics.com.

Sentiment Analysis: The New Game Changer for Entertainment Industry

Sentiment Analysis is being considered by entertainment industry experts as the new game changer for films and television. 

In December 2012, IBM and USC Annenberg Innovation Lab conducted a Film Forecaster study to assess the public sentiment on social media channels regarding those movies slated for release over the holiday period. The study’s intention was to understand what people thought of and expected from these movies. 

Using IBM’s Social Sentiment Index the study found that just before its release, the film Twilight: Breaking Dawn, spiked a 90% positive sentiment on Twitter. However, soon after its release, the positive sentiment plummeted to 75%. Though it appeared that viewers had been disappointed after the initial excitement, a closer analysis revealed that the negative sentiment was not against the movie but Twilight fans were “sad” that the series was ending.

This proved that Sentiment Analysis can work wonders for the film and television industry. In the Film Forecaster study, researchers gained critical insights about how people’s sentiments surrounding a film before and after its release proves detrimental for the film’s box office success.

Take another example – just before the release of Puss in the Boots last year, Dreamworks found out that the Twitter conversations surrounding the film was negative. Soon, the movie’s marketers created an appealing and interesting TV ad campaign to check the negative sentiments. The strategy worked. Not only did the movie become a hit but it also garnered a lot of positive mentions on Twitter. 

This indicates that using Sentiment Analysis, film producers and movie marketers can:

• Before release – assess the sentiment building up around the film as the countdown to its release begins.
• After its release- Know how well a film will do. 
• Plan their next step towards making that movie a hit, by basing the plan on the sentiment that has gathered momentum prior to the release.
• Understand accurately what their audience like and hate. This knowledge will then prove vital in crafting custom made message and marketing campaigns aimed for your audience.

Jonathan Taplin, the director of USC Annenberg Lab predicted that Sentiment Analysis will bring in a revolution in the entertainment industry. In other words, social media monitoring tools and Sentiment Analysis allows film and television houses to glean valuable, actionable insights from public sentiment. It allows them to position their film better, market it well and enjoy greater success at the box office.

So, if you are a heading a film production house or leading the marketing campaign of a soon to be released multi starrer, Sentiment Analysis can help your films in turning it into a runaway hit. To know how write to info@shoutananalytics.com

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.

Why Small Business Needs Social Media Analytics?

Small business with high demanding customer expectations and with a huge increase in the competitors has to face the challenge for survival.The usage of social media for the business is effective only when your customers are widely using it to communicate and share their valuable thoughts. The right choice in picking the best social media channel for brand marketing is acute as it will not only help in brand building but also helps in reaching out to the right audience.Moreover, Social business intelligence is foremost in understanding the impact of business values as well as how well the promotions for the product can be done with proper utilization of the tools that is essential for your business solution.

Businesses are now moving towards the capability which lays down a platform to use the social media in a conjunctive way. When social channels are used effectively, it helps in bringing major outcome of your expectation.Social CRM is an idea which builds powerful and lasting customer relationships through digital communities. Predictive analysis is step forward to know an exact picture of present and future trends of your business that will helps in winning the business competition.To anticipate the future need of the customer preferences and the interests, the ultimate objective would be to reach and promote the brand successfully through right social media channels.

Role of social media for small business growth:

•    The purpose for your marketing has to be best understood to achieve the expertise in the quality as well as in the areas of concern. Additionally, to reach your prospective audience, it is very important to provide them with the expectations which are the foremost.Your business should start with good planning as it will help in marketing the brand to achieve the objectives.
•    As a marketer you should be aware of the social scale of the brand for which they are marketing and should be in a position to measure their outreach through proper analysis and make effective judgment. Moreover, the kind of engagement with the context of the brand is essential for further growth of the business.
•    The active participation of the potential client which can directly lead to the sales is accountable. Analyze and study the patterns of the comments made by the audience as it helps in identifying their behavior and also to understand more what their expectations. Additionally, you should know audience preferences and understanding towards the brand through proper social media Analytics.

Social media Analytics could best lead the small scale business by,
•    Supporting them to be more competitive
•    Helping them in growing effective brand building with minimal time and finance efforts.
•    Reaching out to right target audience.

Shout Analytics is one such social media analytical tool which supports every business for the promotion of the brand and to better know the potential audience. By the usage of Shout Analytics better understand the business values and the preferences of your own customers.

To know more about Shout Analytics do visit http://www.shoutanalytics.com or do mail us info@shoutanalytics.com

Why Do Organizations Need Social Media Monitoring Tools?

 Author: Suraj Arukil 

 About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)

 It’s obvious that the social media scene is changing fast and business organizations are increasing their presence on social media and social networking channels like never before. The aim here is undoubtedly, social engagement in order to reach out to existing and potential customers, expand market reach, better target promotional campaigns and boost business in general.

But, as I said in my earlier posts, social engagement is just one part of a successful social media strategy.  But, in order to get a 3600 understanding of how ones social media strategies are working or to know in exact numbers what ones social ROI is. To me, the logical next step after Social engagement should be social media monitoring. Why? Simply because, it’s not just enough to ENGAGE with the target audience, business organizations also need to LISTEN carefully to conversations surrounding their brand/s, products and services, UNDERSTAND the sentiment behind the conversations and continue to do this consistently over a long run. This is where SOCIAL MEDIA MONITORING, made easy through social media monitoring tools, comes in handy for organizations.

So what do social media monitoring and social media monitoring tools essentially do for organizations?
•It monitors the social conversations in different social networking channels and finds out the trending topics in those conversations and also tells what is being talked about.

•Social media monitoring tools give you geo-demographic details about the conversations. In other words, it pinpoints where and when the conversations happened.

Image Source:kana.com

•Using these tools, organizations’ can find out who are their key influencers – those people who are talking the most about their products and brands.

•Social media monitoring tools also tells what the nature of conversations and the sentiment behind it is – positive, negative or neutral.

•Plus, high-end social media monitoring tools also gives you detailed comparative input in the form of charts and graphs on your competitors’ performance on social networking channels.

Which business organizations need social media monitoring the most?
I’d say any organization with a definite social media strategy and dealing with hundreds of transactions on a daily basis, irrespective of its size would surely require a social media monitoring system. Whereas marketing departments of every business organization stand to gain from social media monitoring tools, Advertising & Houses, PR Agencies and Financial Institutions stand to benefit in particular.

Shout Analytics
Shout Analytics is an innovative social media monitoring and analysis platform that enables organizations to use the power of social media to understand, monitor and engage with its customers. Our self-service social media reporting platform provides an aggregated view of an organizations social media interaction across social media sites like Facebook, Twitter, YouTube, Google+, LinkedIn and Blogs. With Shout Analytics, you can easily monitor customer sentiment (sentiment analysis), measure and benchmark your performance among competitors (competitor analysis) while identifying brand advocate and influencers.

To know more about Shout Analytics, write to us at info@shoutanalytics.com.