Sentiment analysis is the process of identifying and categorizing sentiments in textual data such as tweets. It’s a way to understand how people react to your brand automatically. Brands can use linguistic algorithms, such as n-gram models, natural language processing, and deep learning to identify sentiment in social media data.
1. Service/Product Reviews
Reviews, especially on social media platforms like Facebook and Twitter, help you address customer concerns and enhance the overall customer experience. Reviews also give you feedback on whether to continue offering your service or product or if you need to revamp it. For example, while reviewing a restaurant on Facebook, a customer would provide feedback on the dish’s taste and service they experienced. If the customer had a negative experience, such as food being served too late or wasn’t fresh, would you want to fix that? You’ll surely want to do something about the situation.
2. Social Media Comments
Social media comments from users who experience your brand’s service or product can help you gauge how well you’re doing in the market. For example, a customer who tweets about the smooth response to their query and the promptness with which it was resolved would be categorized as a positive sentiment. On the other hand, if the customer complains about being forced to call your support number when a minor issue could have been resolved by email, this would be categorized as an extremely negative sentiment.
3. NPS (Net Promoter Score)
NPS is a customer loyalty metric used to understand the overall customer experience. It uses an 11-point scale to gauge customer experience on whether they would recommend your brand or not. A score of 9 or above indicates a healthy customer and business relationship that translates into potential growth for the business.
Customer surveys can help you gauge customer satisfaction with your product and service delivery. It’s an excellent way to understand their overall perception of your brand and how it can be improved. Surveys can be mailed or emailed to your customers. The response rate would depend on how you frame your questions, and the incentives offered for a response.
5. Reviews on Social Media
Social media reviews indicate users’ opinions and experiences with your brand. You can review a hotel or a restaurant on Facebook, Twitter, or Google. The reviews you get from users may be fake as they might not have visited the place; however, social media reviews are a good way to get market feedback about your service or product. You can use sentiment analysis to determine if the reviews are negative or positive.
6. Employee Social Media Engagement
Employee feedback about your business is an indicator of how well you’re doing. Employees would either talk about the company as a whole or their daily experiences using its services or products. If the employees have negative experiences with your brand, it could lead to expensive employee turnover and low morale. The use of sentiment analysis can help you understand how well your employees are doing.
7. Customer Complaints
Customer complaints come in through social media sites like Facebook, Twitter, LinkedIn, and Google+. It’s an excellent way to get feedback about the service or product you’re offering. You’ll want to use sentiment analysis to understand the reason behind the complaint. Are there recurring issues, or do you need to make an exception for this customer? You may also want to use sentiment examination of social media data to understand if you’re doing well in customer service.
Measuring customer sentiment is crucial for running a successful business. By using sentiment analysis to understand customers’ reactions, you can make changes and adjustments to your strategy to determine how well you’re doing and what you can do to improve your product or service experience, ultimately increasing your brand’s value and market share.