How social media sentiment analysis can help your business

How to use social media sentiment analysis to get the competitive edge

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For brand managers and CEOs, it is vital to know what people think or feel about their brand. In order to manage a brand’s reputation, a business can conduct social media sentiment analysis. Social media insight enables brands to understand what their customers feel about the brand and helps to unearth opportunities to improve customer relationships and satisfaction. Social media monitoring and sentiment analysis can track what people are saying about your products and the products of your competitors. 

Understanding social media sentiment analysis

According to the London School of Economics and Political Science, “in the United Kingdom there are about 42 million Facebook users, 16 million active Twitter users, 21 million LinkedIn users, and about 35.6 youtube users per month,” and this number grows as more and more people are seeing the convenience of using these platforms. Within these platforms lies a treasure trove of data which can reveal a whole realm of insights about how customers perceive a brand and it’s products.

Source: Hootsuite

Using machine learning and natural language processing, social media sentiment tools such as Salesforce’s Radian6, Pulsar and Global Web Index are able to analyse content published across the social media landscape and categorise it according to the topic or sentiment (positive or negative). This is big data and AI in action!

Sentiment analysis tools use natural language processing AI algorithms to categorise comments, content and reviews online into positive, negative, and neutral emotions to give an emotional reading of how well a brand is doing. 

Social media sentiment analysis tools are able to analyse comments, reactions, reviews, and brand mentions across the internet to help you understand the issues, needs  and desires of your customers and can help you identify areas for improvement across product, customer service or experience. You can also use social media sentiment analysis, to understand how to build more effective marketing and messaging

Social media analysis and its importance
This diagram shows how Hitachi identified and addressed problems in their customer service by using social media monitoring and sentiment analysis to identify and resolve structural issues in how their customer service teams were operating. The same method can be applied for any industry and sector.

Why is social media sentiment analysis so important?

1.      Develop audience insight

Any business will benefit from knowing more about what their customers really think. Understanding what your customers think and feel about your products and services can inform marketing strategy, product innovations and improvements to customer experience

2.      Prepare for any PR issues

Social media insights allow brands to track online mentions in real-time, thereby being able to identify any looming issues early on. This makes it a very helpful tool when you want to identify a possible public relations crisis before it is fully blown. If a brand sees a spike in negative sentiment, the team can investigate, attempt to remedy the issue and prepare their PR strategy. Because negative reviews gain traction on social media the fastest, it is often helpful to connect customer service teams with social media sentiment analysis tools so they can proactively manage any customer queries and issues early on.

3.      Competitor analysis

Aside from monitoring your data, you can also gain a lot of information by tracking your competitor’s social media sentiment. Positive feedback will help you understand where your competitors are succeeding and negative reviews will help reveal their weaknesses which are ultimately opportunities for your own business to outperform the competition and grow market share. 

Top tools to monitor social media and measure social media sentiment

  • Hootsuite Insights – This tool automatically analyses all your social media accounts, platforms, forums, news sites, and blogs to to surface the stories, influencers, trends, and sentiment related to your brand. You can find out how consumers feel about your brand and filter the content by language, location, and time. Additionally, you can set up monitoring by keywords such as brand, product, or competitor names to get quick data.  Hootsuite Insights provides an easy-to-read meter, so you can quickly see how your business is performing in terms of social media sentiment
Google insights shows easy to use user interface for consumer insights
  • Quick Search from Talkwalker– If you have the budget to use high-end tools, one of the best is QuickSearch. This tool is part of the customer service tool platform known as Talkwater. Quick Search works by telling you how people feel about your social media channels. It collects comments, mentions, engagements, and several other data points to help you understand how your customers are responding to the brand on social media.
Quicksearch from Talkwater user interface for consumer insights
  • Digimind – Digimind helps you track your social media presence by analysing any relevant conversations about your brand. The tool will aggregate information from more than 850 million websites and sources, giving you a comprehensive view of your brand. Digimind is available within the Hootsuite app directory, so if you are already using Hootsuite this is a great add-on.
 Digimind user interface for consumer insights
  • SysomosFor companies with a global reach, the social media monitoring solutions of Sysomos can help brands observe how people view their company. Sysomos also allows companies to know who the key influencers are, and how campaigns are doing in the market. Sysomos can monitor more than two dozen social media platforms like Facebook and Twitter.
Sysomos dashboard for consumer insights

Enterprise level social media monitoring and sentiment analysis tools

  • Radian 6 – Radian6 is a social media monitoring and analysis tool that can provide an automated solution. It  tracks conversations across various online channels. It is primarily used by corporations to listen to the web for social mentions, keywords, and gain insights.
Radian6 dashboard
  • Pulsar –  Pulsar promises to be the next generation social listening tool that allows brands to take data insights to a whole new level. The tool goes beyond text mining and keyword tracking by allowing brands to map audiences and track how their content is being engaged with. 
Pulsar tool dashboard for customer insights
Global web index dashboard for social media insights

It’s all about the context

Social media sentiment analysis will provide you with some very valuable information about your brand. By understanding what your customers say and feel about your brand, you can improve your business, retain old customers and gain new ones. With the help of social media sentiment tools, you should be on your way to making sure you provide the best customer experience and overtake your competition!