Brand sentiment analysis in building your brand
Jul 20, 2022by, Maheswari C S
What do you feel when you hear the name Amazon? It is seldom that in today’s world the lush greens of a rain forest comes into one’s mind first. Instead we are reminded of the multi-million dollar tech giant who dominate the world. Now, let me ask you this. What of Amazon? What perception of the brand have you formed in your mind?
Everyday people on various digital platforms share billions of data that could be made extremely useful to brands in building their name. What if you could use this data could help you decipher ways to do something more for your brand? That’s where Brand Sentiment Analysis comes in.
Brand Sentiment or Net Brand Attitude refers to the sentiment felt by the target audience online at the mention of a particular brand. It forms a key indicator of how people actually feel about your company or its products, depending on the products you release or the quality of service you provide. It assists in generating better business results due to its impact on the sales, loyalty, and retention of customers.
How is brand sentiment analysis done?
The easiest and most convenient way to assess your brand sentiment is through Media Monitoring tools. Social media is the hub of public opinion. It is extremely difficult to manually dig through every tag and mention of your company, especially for an established brand. Media monitoring tools do this job for you by examining internet mentions of your company and generate information about where your brand stands in the eyes of its potential customers. The science behind this technique is based on algorithms of natural language processing and machine learning that analyze various texts from different digital platforms and classify them as positive, negative or neutral.
Most recent version of media monitoring software can audit millions of content spanning across geographies and languages. Using natural language processing (NLP) and artificial intelligence (AI) it can analyze all sorts of text to find specific concerns. Moreover, audio transmissions can be converted into written text using speech-to-text technology, which calls for digitisation. Media monitoring tools equip brands with the generated data in a meaningful way to make intelligent business decisions. An automated or curated monitoring service produces a regular digest, at the needed time and frequency, emphasizing essential information based on the specified coverage.
In this regard, it is important to note that these tools fail to identify elements of sarcasm and irony. They also can’t process the meaning behind subjectivity and the underlying tone of words. Emoji’s are yet another entity that is outside the machine’s comprehensive capabilities. Though this implies that the analysis done won’t be 100% accurate, nevertheless, it will be able to give an insight about the general attitude regarding the brand.
Using this system we can determine the :
- overall sentiment – which is the aggregate of the image of the brand in general after analysis over multiple mediums
- sentiment over time – the image of the brand during a particular time period
- sentiment by rating – the aggregate of the image of the brand as per ratings (Eg: sentiment identified through Google reviews)
- sentiment by topic – the aggregate of the sentiment over a particular topic, such as the image of a brand during a crisis situation.
How can this technique help your brand?
- Better Marketing Plan: Sentiment analysis can track the success of marketing campaigns, which allows brands to focus on the components that work best while altering the ones that don’t. The PR and Marketing departments can use this information to formulate marketing strategies as well as assist other aspects of the marketing plan, such as digital media strategies.
- Voice of the Customer: Determining the voice of the customer through customer feedback collected by observing how people communicate, the existing social media buzz, and the subjects that are most discussed in relation to the brand, help to devise products that directly reflect the general market attitude. Analyzing this is critical in helping businesses understand what their customers want, what they appreciate, and what they dislike.
- Competitor Analysis: Apart from providing insights into your brand perception, brand sentiment analysis can help compare the company’s profile to that of its competitors. Such an analysis prompts a corporation to consider adopting some of their approaches in a modified way to support the brand’s marketing strategy and product choices in order to keep them ahead of the pack.
- Crisis Management: Brand sentiment is crucial for crisis management since it gives first-hand information regarding the public attitude towards crisis situations. The data provided by sentiment analysis algorithms can help brands to react quickly to these PR disasters and devise necessary measures to prevent the situation from getting worse.
We are living in a world where opinions and decisions are shaped online. Brand sentiment analysis can determine if your brand is here to stay. Marketing techniques and product choices assisted by this technique is an effective way to build a perception of your brand. At Dexlock we work on projects in a way that gives our clients maximum satisfaction. Over the course of our projects, we were able to generate the required results at the same time making sure to learn from our mistakes. We devise necessary measures for improvement, ensuring those who trust in us nothing but the best. Connect with us here to give wings to your dreams!
Disclaimer: The opinions expressed in this article are those of the author(s) and do not necessarily reflect the positions of Dexlock.