How Can Marketers Use Sentiment Analysis?

Sentiment analysis is a process of capturing information about a business’s product, service, or reputation from a wide range of internet resources. Customer sentiment impacts every facet of your business – the products you offer, the way customers respond to services, and how you market your company. How can marketers use sentiment analysis? 

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By understanding what sentiment analysis is, how it works, and how to employ it for your business, you can significantly enhance the ROI of any marketing campaign you launch or plan. Sentiment analysis marketing reach can be significant. So, how can marketers use sentiment analysis in a meaningful way? Let’s break down its actual use and benefits.

What Is Sentiment Analysis in Marketing?

Marketing success comes directly from your company’s ability to connect with your customers. Marketing is not about what your company offers or pricing but rather how well you meet your customers’ needs, objectives, and goals. By using sentiment analysis, marketing teams can greatly increase their ability to understand what makes their customers come back to them time and time again. 

How can marketers use sentiment analysis right now? The short answer is that they can use it to obtain deep insight into their customers’ opinions, emotions, and thoughts about their products or services. It can shed light on preferences and perceptions. As a marketing manager, the more you utilize an effective marketing sentiment analysis process, the better every one of your campaigns will resonate with your customers.

How Sentiment Analysis for Marketing Works

It may sound like sentiment analysis is a treasure trove of valuable information that any marketer would love to have access to, somewhat like having the secret sauce recipe to know exactly what your customers want and need to work with you. Yet, it’s not that easy.

You could say that your business is already reviewing customer reviews online, and you handle the email feedback you receive. These are valuable components of your marketing sentiment, but in the most traditional sense, you would have to read each one and make a decision about it. Is it a good review? Does it show that your customer is disappointed? This is not practical for growing companies. That is where the alternative solution of using sentiment analysis tools comes into the process.

To work, sentiment analysis takes the data you provide to it from various sources and analyzes it. Using artificial intelligence, it will capture insights from the language present to make a decision about the content. Generally speaking, that means the tool will determine if the feedback is positive, neutral, or negative. This is an automated process, one that can be done for you in real-time without limiting the amount of time you are putting into managing your business needs.

Utilizing AI-powered tools and natural language processing (NLP) sentiment analysis in marketing can provide your business with a wealth of information to use for a wide range of data-driven decision making. 

How Can Marketers Use Sentiment Analysis? Case Studies to Consider

Sentiment analysis is a vast tool in terms of the various ways you can implement it and use it to achieve a variety of goals. First, consider what specific questions you may have, such as about a campaign or gaining insight into the way your business’s reputation is perceived online. 

Consider the following marketing sentiment analysis use cases. Then, we’ll provide some tips on how to set up an effective method for capturing this data.

Track Brand Sentiment in Real Time. One of the most important and powerful tools that come from sentiment analysis is the ability to track brand sentiment across the internet in real time. These tools allow you to capture what people are saying as it is happening, enabling you to make decisions quickly when there is a need to do so. Consider some scenarios.

• A company launches a new branding campaign. They use brand sentiment analysis to monitor the instant feedback on the new concept. This allows for tweaks as the campaign roles out.
• A company is facing a bad review of a new product. They can do damage control early on if they have access to real time data about the concerns consumers have.

By tracking brand sentiment in real time, companies can act faster when there is a need to do so. That could mean making changes, preparing statements, or simply providing consumers with more information to ensure they get the results they desire.

Identify Potential PR Crisis. Adding to that real-time analysis, sentiment analysis also enables you to monitor delicate situations so that you can do some PR mitigation strategies when you need to do so. For example, if a company learns of a customer who’s reporting to a local news agency about a negative experience, it may be possible to reach out to that customer earlier and minimize the damage.

Sentiment analysis in marketing very much can be a tool for tracking problems as they arise, but it can also help with navigating potential PR crisis. When there is the start of a negative discussion, for example, companies can step in to offer solutions or solve the potential PR crisis before it even gets underway.

Measure Marketing Campaign Success. When it comes to sentiment analysis, influencer marketing, and other digital strategies, it can be hard to know where your money is going and what type of direct improvement to your brand or sales is. Sentiment analysis for marketing goes a bit further than your average key performance indicators. It allows you to understand positive, neutral, and negative comments in a more authentic and effective manner.

When you launch a marketing campaign, you need to minimize the risk of fallout. For example, if the campaign is not understood, you are losing money and hurting your brand. You can use this information to help influence the next brand campaign or product launch you do, helping you to make the next opportunity a bit more successful.

Refine Your Marketing Strategy. Utilize sentiment analysis marketing tools to help you see opportunities for refinement and improvement. Small difference, such as in word choices or product sales pricing can make a huge difference in the response your campaign gets. By better understanding what customers are looking for, it’s possible to make changes to your marketing message, reach, target audience, or other details to reach the right audience in the best possible manner.  

Sentiment Analysis Marketing with ABSA

How can marketers use sentiment analysis for more in-depth details? Consider how consumer sentiment works with aspect-based sentiment analysis or ABSA. A type of fine-grained opinion mining strategy, ABSA provides a way for marketers to determine the sentiment of a text as it relates to very specific aspects, or target areas. This is a new field of research in comparison to traditional sentiment analysis, and it is one of the most interesting ways for markers to use sentiment analysis. 

The following are some ways marketing sentiment analysis with ABSA can help you improve your product and service offerings and customer satisfaction levels:

• Monitoring customer satisfaction levels for a specific product or service. For example, you may want to know how well your customers are responding to a very specific service offered or a particular product, not just any product or service. This enables you to learn what people are saying and what they mean in their statements. You can use this to increase customer satisfaction with that specific product or service directly.
• Monitor public opinions of a specific component of your business. For many companies, tracking public opinion of your business is important, but what about the very specific elements of your company? For example, if you launch a charity program or a community give-back program, you may want to know what people are saying and what they mean in relation to that specific new service or product.
• Employee feedback. Another core benefit is to use marketing insights from your employee reviews and surveys to influence decisions. Today’s marketing department is not just marketing for sales but also to attract top talent to the company and build a strong employer reputation. Using ABSA sentiment analysis, you can achieve those goals.

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Business Decision-Making with Marketing Sentiment Analysis Strategies

Having this information available to you is quite important and insightful, but what do you do with it? How can marketers use sentiment analysis in a practical manner within their business?

• Inform new product and service development. Not only can you learn what customers like or do not like, but you can also gain insight into why. That can help you to bring those opinions to your product and service developers to enhance your next launch. 
• Competitor insight and advantages. Use sentiment analysis to help you learn how your competitors are marketing, what their reach is, and what the competitors’ customers are saying about the company. Competitor benchmarking is another important element for today’s businesses to focus on. You need to know how to compete and this opens the door for you to do so.
• Foster future content creations. Marketing sentiment analysis allows you to pave the path to the future. You can use the insights you have to guide content creation and additional marketing strategies. You may learn, for example, that a product is too hard to understand how to use. Your next campaign can break down exactly how easy it is. 
• Align marketing content with segmented audiences. Yet another way to apply these strategies to your business is to ensure your marketing aligns directly with your target audience. Pinpoint specific pain points and needs for that group of people and align your marketing to meet those individual needs, goals, and perspectives. For example, you may use sentiment analysis to better understand what your elderly customers need from you and then create a marketing campaign that aligns directly with that area.

These are some, not all, of the many ways you can enhance marketing with sentiment analysis. As a business owner, you have to ask yourself, “How can marketers use sentiment analysis within my organization to handle our customers’ pain points?” There’s generally a wide range of opportunities to do so.

How Do We Get Started with Sentiment Analysis in Marketing?

To create these opportunities, marketers need to create a cohesive plan to capture valuable data and apply customer sentiment analysis to it. The best way to achieve this is through the use of AI-powered tools and NLP. You can choose from a wide range of strategies to achieve those goals.

Consider a few steps to help you put this plan into place:

• Capture the data you need. Utilize web scraping automation to help you collect social media comments, reviews, surveys, feedback, email, and other types of data available on the topic you want to research. Web scraping APIs can help you get this process up and in place sooner.
• Set up a proxy service to minimize risk. When engaging in marketing analysis of any type, anonymity is a critical component of the process. A proxy service for web scraping can help you to achieve that goal.
• Utilize a previously trained model to help you get your business’s sentiment analysis up and moving. 

Pre-trained sentiment analysis tools, like those available with Python, are some of the easiest ways to get started in this process. You can maintain your own processes and build your own web scraper if you like. The objective is to get started.So, how can marketers use sentiment analysis within your business? With so many potential use cases, it can be incredibly insightful to know that so many opportunities exist to improve your marketing strategies and results. At Rayobyte, we can help you connect with the resources and tools you need, including our proxy services and our web scraping API. Get started today by contacting Rayobyte now.

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