We will start by looking at the what is sentiment analytics, explore why organizations are
conducting sentiment analytics to understand the consumer behavior, needs, wants, trend and more.
In today’s day and age, consumer share their opinion freely on the internet. Whether a product is suitable, good, bad and their feelings on a particular product. Consumer usually share their sentiments on social medias, forums and various platform such as Tiktok, YouTube, Facebook, news feed, twitter or even blogs.
What is sentiment analytics?
Social media sentiment analytics is a practice where many businesses invest heavily as these data gathered from social network is crucial in analyzing their feelings or emotion on their product. These sentiments can impact businesses on how they can make better product.
Why social media analytics?
From social media we can extract useful data relating to customer’s sentiments and feedback. The value of social media data is that it helps organizations understand customer attitudes and characteristics better.
These insights can help inform the organization’s marketing department on campaigns which uses the same social media as marketing channels. Another aim of social media analytics is to understand how best to engage customers on these channels so that company can build relationship with customers. Such engagement can drive revenue gains and reduce the costs associated with customer churn.
Types of Data Obtainable from Social Media:
| DATA | DETAILS | EXAMPLE |
|---|---|---|
| Behavioral | How user interacts on Social media | Share, Likes, Retweet |
| Location | Geographic data shared by user / device they use | Check-in, Geotagging, Location services. |
| Sentiment | Positive or negative opinion, rating or conversation | Star Ratings, Reviews.. |
| Social Graph | Data represents user direct/indirect link | Friends, Followers, Fans, |
| Rich Media | Video, audio, photo content | YouTube, Tiktok, Twitch, Instagram post |
Conclusion:
Social Media analytics help businesses identify opportunities as well as to gather feedback on their brands and product. Negative reactions to products, advertising or spokesperson can be quickly addressed if companies can performing social media analytics.
On the other hand, businesses should not be just be listening about their own brand and products and only to their existing customers. Instead, they should also listen to conversations about their competitors, their suppliers, partners as well as the market in general to gain competitive advantage. Contact us if you would like to analyze your company performance through sentiment analytics and find out how you are performing through your customers.
Stay tune as we explore a sentiment analysis case study in our next blog!
