How Can AI-Driven Sentiment Analysis Help Improve Your Brand?
As the globe moves toward a world of constant likes, loves, tweets, comments, and live feeds, it is more important than ever for a company to comprehend and track the overall sentiment of its consumers and users.
More than 85% of customers purchased more after a pleasant customer experience.
After a bad experience, more than 70% of people bought less. As a result, getting this wrong can be a costly exercise, according to a Mckinsey study.
Customers’ feelings have emerged as the most important influence in their purchasing decisions. Sentiments can create or destroy value in your company, yet they are frequently disguised. Though feelings are hidden, they significantly impact client behavior and influence what and when people buy.
Companies have access to masses of customer feedback in today’s online age, where we’re rightfully suffering from data overload. However, if humans manually sort and evaluate the data, it becomes hard to complete the study without errors or prejudice.
There appears to be a bucket of gold at the end of the rainbow for firms struggling to navigate the ocean of customer data. So visit the Automated sentiment analysis machine learning!!
WHAT IS AI SENTIMENT ANALYSIS?
What is sentiment analysis, and how makes it work? It’s a far more involved method of determining how customers feel about our products and services, as it employs not just simple words but also lengthier phrase fragments. Yes, AI is progressing to the point where it can recognize the tone of a remark rather than just determining whether certain words in a collection of text have a good or bad connotation. This is extremely useful for firms looking to boost client interaction, optimize their message, or even discover top influencers in their consumer base.
However, sentiment analysis example; Barack Obama employed it in the run-up to the 2012 presidential election. However, like with any new technology, sentiment analysis’ accuracy is continually improving.
It’s also more accessible today, with smaller organizations able to benefit from previously only available to those with the most significant resources.
HOW TO USE SENTIMENT ANALYSIS FOR BRAND BUILDING
With that in mind, here are six strategies to promote your brand using sentiment analysis.
RESOLVING SERVICE ISSUES
The importance of brand reputation has never been greater than it is now.
According to McKinsey, after only one terrible service experience, more than a fifth of customers will abandon a product or brand. So anything you can do to stop this drop-off will pay off in the long run.
The traditional method of dealing with service issues is to address them in the order they arise — but any brand manager will tell you that specific customer complaints have a significantly more significant impact than others.
With text sentiment analysis, you can watch social media notice these occurrences early, take a more strategic approach to address consumer concerns, and ensure that minor issues are addressed before they become significant difficulties.
Hours upon hours of market research go into every new product and every tweak to an old one. However, you never know how anything will be accepted until it is released into the wild.
You can acquire insights into the features your customers want and evaluate reactions to your products or services as they are released using sentiment analysis, which means you have a higher chance of providing the public with whatever it wants.
Customer sentiment analysis should be done throughout time to get the most accurate results, so you can understand how people’s opinions change. After all, just because people don’t like something at first doesn’t imply, they won’t learn to like it over time.
You may also utilize a sentiment analyzer to learn more about how clients feel at various phases of the purchasing process. This will assist you to figure out which areas require work and which you want to highlight in your marketing materials.
CHOOSING THE BEST COMMUNICATIONS CHANNELS
The typical person has 8.5 active social media accounts, according to Statista.com.
This may be a nightmare for brand reputation managers. Nobody canister is here at once, and just because your Facebook remarks show a sea of pleased customers does not mean there aren’t unanswered screeches for help on Twitter.
Sentiment data research may help you figure out which channels are generating the most chatter, so you can figure out where your consumers like to spend their time and adjust your service priorities and social media strategy accordingly.
REACHING NEW AUDIENCES
It is fascinating to see what others are saying about your company. It is priceless to hear what diverse populations have to say.
You may more precisely target your brand marketing strategy, detect market gaps, and fix any issues causing you to miss out on good chances by drilling down into the specifics of who is saying what about your product.
Sentiment research can be used effectively to assist clients in identifying the requirements of underserved demographics.
Other benefits of adopting Artificial Intelligence-driven sentiment analysis include finding out about your competitors’ brands and how they’re performing and identifying the perfect ambassador for your brand if you’re thinking about hiring an influencer.
In the marketing field, branding with sentiment analysis can be instrumental. It can aid in the creation of tailored brand messaging and the knowledge of consumer preferences. These insights may be crucial for a company’s ability to expand its reach and influence across various industries.
This blog was published at Valere Labs