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Suggested by Ilse van Outersterp
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Social Media Analytics: Sentiment Analysis - Business 2 Community

Social Media Analytics: Sentiment Analysis - Business 2 Community | Marketing Research | Scoop.it

Marketing Research Insight by Ilse van Outersterp

This article discusses sentiment analysis: a social listening tool to evaluate customer statements found across social platforms to determine opinions with respect to a brand. However, one should carefully monitor the two possible problems with sentiment analysis, namely the training and the hearing of the system used. No tool is perfectly able to accurately score sentiment and some are easier to train than others.

 

However, in my opinion, the advantages weigh out the drawbacks. As the article highlights, by tracking the prevailing opinion of your brand, you could measure the impact of marketing efforts and actions on the brand reputation and attitudes towards new products . According to me, this is significant in today’s social age where customers determine the conversation about a brand. By actively using social listening, a firm will be successfully able to identify potentially harmful conversation and ameliorate the situation by reacting properly before it will have a drastic impact. Additionally, it is extremely valuable in developing a brand reputation strategy and it represent opportunities for high consumer engagement. 

 

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Suggested by Danny McConnell
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Sentiment to Actionable Insight | Social Media Today

Sentiment to Actionable Insight | Social Media Today | Marketing Research | Scoop.it

This article details the evolution of sentiment into actionable intelligence through the process of social listening.  Sentiment describes the general attitude toward a product or brand whether it is positive or negative.  Due to advances in technology, companies are eliminating the lack of trust in sentimental information in order to develop a deeper understanding of the social data that drives consumer sentiment and demand.

 

Companies can utilize social networks outside the ‘big four’ to develop a deeper analysis and more specific discussions that revolve around product features.  Data received can shift the results from what was previously unactionable feedback to more actionable feedback for the company.   For example, in the article’s snack food survey conducted, it was concluded that consumers disliked a specific feature of the product (high calories) and are attracted to another (multigrain).

 

Sentiment’s role in social listening increases the ability of a company to listen and accurately determine attitudes towards a specific element of a product.  Through the results researchers gather, it can reduce the difficulty in determining consumer attitudes, plan products and initiatives to these attitudes and ultimately improve their company's brand.  This method will become increasingly important as the sources for social data expands.

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