The field of marketing has evolved with marketers coming up with innovative ways to understand consumer preferences better. This way, they can come up with effective marketing campaigns. One of the latest trends in marketing is the use of sentiment analysis to form marketing strategies.
Sentiment analysis involves using natural language processing to determine if data is positive, negative, or neutral. This analysis is often performed on textual data to help companies keep tabs on brand and product sentiments based on consumer feedback. Using this data, the company can better understand customer needs.
Using Sentiment-Analysis for Effective Marketing Campaigns
There are several ways companies can use sentiment-analysis to generate income or even penetrate new markets. However, having focused on marketing, here are a few ways businesses can use sentiment-analysis for effective marketing campaigns.
Social media monitoring
You can apply sentiment analysis in social listening to help unearth customers’ most sincere opinions on your product and brand. Using this analysis, you can keep an eye on customer opinions round the clock. You can use it to directly target social media marketing campaigns or follow up on consumer responses. The best part about it is that it can be used as a marketing tool to determine what social interaction or language generates positive feedback.
Analyze marketing campaign success
Your marketing team can employ this analysis immediately after launching a marketing campaign on social media, news articles, forums, or target surveys. By tracking consumer sentiments, you can narrow down to what is working and what is not up to the individual word usage. With this analysis, you can evaluate and come up with a report on why specific campaigns are not effective and why others are delivering. With this analysis, you can also compare your current campaigns with historical data to help you format appropriate messaging.
Gauge customer opinions on a new product
Sentiment analysis can be used to track opinions on a new product from any source. Businesses can employ aspect-based sentiment analysis to group ideas or opinion units about their product based on aspects such as pricing, reliability, and usability. After that, you can then analyze them to get sincere opinions from consumers. From this data, you can get the sentiment ratings based on the major aspects of the new product. With this information, you can make changes to meet consumer needs.
Keep an eye on the competition
Sentiment-analysis allows you to monitor more than your products and brand; you can keep an eye on your competition. Using this analysis, you can determine what marketing campaigns they have employed and what is working for them based on customer sentiments. You can also see their target audience and marketing channels, giving you an opportunity to explore avenues you hadn’t thought of. You can as well seize the opportunity when the analysis shows that their campaigns are underperforming or receiving negative reviews. This provides an opportune time to shine your brand.
Prevent PR crisis
In today’s modern age, a company’s most prized possession is its brand image. A simple tweet or comment can travel across the globe in just a few minutes, dealing damage to your brand’s image. Sentiment-analysis can be employed to monitor your brand and your marketing campaigns on social media in real-time. When negative sentiments rise, you can effectively arrest the situation before it gets out of hand. You can filter your social media monitoring based on aspect and sentiment always to be ready.
Sentiment analysis has proven to be an invaluable tool when it comes to protecting and promoting a brand’s image. There are several tools to pick for this job; however, be sure to consult with your marketing team on which one best fits your business.