Sentiment Analysis in simple words can be referred to as data mining of customer experience.
Most importantly, it has utmost importance when it comes to social media reports and monitoring, allowing to gain the emotional attitude of the customer based on their remarks, comments or user-generated content.
No wonder, the human language is a bit complex to understand what exactly they mean. For example, consider a statement, “You are late again by 2 hrs. Great!”
Can you really decode the sentiment of the speaker? You might, but not when it comes to millions of such similar statements. And, that’s what the algorithm behind ‘customer sentiment analysis’ does for you - Decoding the sentiment behind the statement.
The importance of collecting sentiment from the customer’s feedback, remarks, and opinions really do matter when it comes to a product/service based business. It helps businesses to gain insights of their targeted customers, and how are they reacting to your product/service.
Let's talk more about the values that customer sentiment analysis could bring in to your Business.
Understanding the customer’s opinions about your product/service
Companies can have a better understanding of what they are doing right and what is not working for their brand through customer opinions on social media channels. Leveraging customer feedback data not only helps improve products and services but also increases your conversion and retention rate long term.
Optimising your go-to-market strategy
With gathering customer tweets, posts, feeds, likes, etc., you can measure the success rate of your product/service. Every day there can be thousands of statements made about your brand either through a tweet, notes, comments, or pins. Collecting that data and analysing it through the scans of sentiment analysis technology can help you understand how customers perceive your brand and what you need to do in order to improve your marketing strategies/services.
Real-time monitoring of customer feedback
Ignoring the negative feedback and comments for your brands can cost you much, as the longer they are unheard, the viral they become. The best solution to handle these comments is to respond to any negative feedback as soon as possible and avoid further DSAT.
Simple, the sooner you will respond and take action, the more you will earn customer’s trust and loyalty. These situations are often termed as crisis
management, and they do really matter as they make the customers believe that you do really care for them.
The study suggests that more than 90% of brands utilise social media for collecting feedback based data, and they do come in unstructured form, MK KALBOS can help you to convert those unstructured data into meaningful and actionable insights.
Apart from Customer Sentiment Analytics, there’s much more we have to offer with MK KALBOS, with the combined features of text analytics, topic analysis and more.