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Monitoring brand strength is a cornerstone to a successful business, product or service. Your customer is at the heart of everything you do, listening to them and adapting should always be at the forefront of your strategies.
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We all know that having the ability to really understand what your customer thinks and feels about your product or service is vital to the success of your business. Using social listening tools you can acquire an accurate report on exactly what the world is saying about you. And it doesn’t stop there – you can also go about the same process to see how your competitors are viewed.
Comprehensive market research without having to pay for the room, tea and cakes!
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Sentiment analysis (or opinion mining) is a broad term for classifying, judging and forecasting the attitude towards a statement, person, business or topic. Monitoring sentiment trends will allow you to understand your customers’ pain points and needs and adapt accordingly.
You don’t need to be told by us that customer satisfaction sits at the heart of your business; understanding their feelings towards your product or service is the key to retention, it’s the key to new business, it’s the keys to the kingdom!
Your customers want to be heard – and we’re sure you want to listen. Using a social listening (or sentiment analysis) tool will scour social media and the internet to provide you with quick actionable data and insights, which will allow you to adapt your product or service to your customers’ needs and – all being well – grow your business.
Social listening is an important analytics tool for brands and businesses who want to hear the voice of the customer and connect with them on a deeper level. With a huge amount of value to be gained from the practice, social listening should be a cornerstone of your marketing strategy.
Using it you can:
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To ensure you are efficiently analysing your brand sentiment, it’s important to implement a set of best practices. Some we use and recommend are:
Review your competitors’ marketing efforts
When you learn from people who are already doing well, you’re in essence skipping the mistakes they made on the way to getting where they are today. Side-stepping the mistakes of your competitors will save a lot of resources! Review their campaigns; what worked? What didn’t?
Determine when to engage
Gospel within our agency: “Don’t feed the troll”. Having the ability to see exactly what your customers are saying can make you feel like you want to respond to absolutely everything. While it’s generally a good idea to engage with your customers online, some conversations are not beneficial to anyone. Create a set of parameters – what doesn’t warrant a response? When is it necessary to block a user?
Be ready to act
When your social listening exercises highlight a concern from your customers you must be prepared to act. This means setting up open channels of communication amongst different internal/external teams and ensuring that clear processes are in place for action.
Choose your tools carefully
“We shape our tools and after they shape us” – put perfectly by Marshall McLuhan.
Choosing the correct tool in any situation can make or break your efforts. Taking the time and effort to carefully research the social listening tool that will work best for you will repay you a hundredfold over time.
Know and track your metrics
Which metrics matter to your organisation? Build a model for sentiment analysis around what matters most to your business – otherwise you’ll never know how you’ve been benefited by engaging a sentiment analysis tool! There are lots of things you can track. Here are examples of metrics we feed back to our clients:
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Monitoring sentiment analysis can have a significant impact on your brand. Reputation management is crucial to brand health, but in order to truly reap the benefits, you must set up the correct framework for success – otherwise you risk wasting time and resources.
We are well-equipped to support you in developing a strategy for monitoring sentiment analysis. Allow a team of professionals to manage your reputation – contact us.
