Sentiment Analysis The sentiment is one of the most important words related to human emotions, but in the past few years, the word has widened its scope and is now also part of corporate life.
Many companies and digital marketing agencies today are analysing the sentiments of their audience in order to make their post and draft their marketing strategies. This makes it very important to understand the importance of Sentiment Analysis in Digital Marketing.
What is the Sentiment Analysis?
Sentiment Analysis is a type of program where a computer or machine algorithms break the information from social media and understand the emotions attached to a particular post. This technique is now being used by major international companies around the world to know how the audience is reacting with their brand post.
In social media analytics, this method is very useful as it helps in measuring the public opinion behind the post. This has emerged as a type of social listening which analyses the reaction of the users towards any product or services.
Types of Sentiment Analysis
Sentiment Analysis varies as various forms and models are used to interpret the feelings and emotions of the user. Some of the most common types of Sentiment Analysis are: –
Fine-grained Analysis-
This type of analysis is mostly binary and it has numerous subdivisions like
-Very Positive
-Positive
-Neutral
-Negative
-Very Negative
Emotion detection
It aims at detecting emotions that are common to human beings like frustration, sadness, anger, happiness, etc.
Aspect-Based Analysis
This type of Sentiment Analysis is basically helpful for evaluating the feature of any product or service. This is used to know the product-specific reactions.
Advantages of Sentiment Analysis
Sentiment Analysis is widely being used by many companies throughout the world. It is helping them to analyse brand perception, make their marketing campaigns and solve their crisis situations.
To go further in it, here is the list of benefits that SA provides: –
Study unstructured data
Around 80% of the world’s data is unstructured which is hard to analyse and is also a time consuming and expensive process. SA helps businesses to understand all of this data by automatically tagging it.
Know Public perception of the brand
One of the major benefits of SA is monitoring how users are engaging with your brand on social media. This can be done by analysing the positive and negative sentiments behind your brand. Companies are also comparing their brand perceptions against the competitions with the help of the Sentiment Analysis.
Manage online reputation
Sentiment Analysis helps in giving an early update about the looming crises that your brand can encounter. By analyzing the changing perspective of the users towards your brand, you can create a different marketing strategy and prevent possible crises that can be hazardous for the brand’s reputation.
Post Analysis
Sentiment Analysis also provides insights of the posts made on social media. It helps in discovering the type of posts that are driving the most likes, retweets, and shares across the social network. This is a beneficial tool as it can help companies to optimize their content for better growth.
Improve customer service
By knowing the insights and details of customer behaviour, companies are equipped with better information to deliver quality service to their clients. This increases the customer’s retention rate and also provides an edge over the competitions.
Perform Market Research
SA is also a powerful tool to perform Market research and competitive analysis. By using this, companies can anticipate future trends or explore new markets and customers.
Get Real-Time Analysis-
With the help of Sentiment Analysis, companies can also get insights about the real-time crises that are looming. Crises like angry customer or PR crises can be immediately identified and solved with the help of Sentiment Analysis.
Need for Sentiment Analysis
•Sentiment Analysis is an important tool and it is now also being used in the search engines. It is bringing the new metrics for websites to rank on search engines.
•One major need for Sentiment Analysis is knowing the reaction of the customer. This will help companies to make smarter decisions based on customer choices and reactions and prepare future strategies based on them.
•It is necessary for analysing the reaction of customers towards any product or service.
Conclusion
Though the SA is a very important tool and is now widely being used throughout the world, it still lacks the ability to precisely examine the sentiments. As Sentiments are very difficult to identify for the human mind, it is also a difficult task for any machine algorithm to do.
However, despite the difficulties, it is a helpful tool to know about your customers and users and devise proper strategies based on the type of engagement.