As we head into the new year, it’s never been more important to keep an eye on consumer sentiment. Understanding the sentiments driving consumer posts and purchasing decisions will be crucial as brands rethink their marketing strategies in 2022 – and we have some sentiment analysis tools to help you along!
Here are some surprising consumer sentiment statistics to keep in mind:
- A full 50% of consumers say during the past two years, they’ve re-evaluated what’s important to them in life.
- Forty-two percent say COVID helped them see they need to focus outwards on others, more than on themselves.
- 50% of consumers say they were disappointed with companies’ response to crisis during the past two years, and their lack of understanding of their needs during difficult times.
So, what previously worked for companies prior to 2020, no longer worked after 2020. And since, brands have been digging down to see what emotions and sentiments lie beneath the surface. And this is where a sentiment analysis tool comes in. They provide powerful intel to help brands stay in-tune to their consumers’ shifting sentiment.
What is Sentiment Analysis?
Sentiment analysis uses natural language processing (NLP) and text analysis to systematically identify, extract and quantify subjective intel. In English – it gets to the heart of what consumers say, and it also reads between the lines.
It acts as the cornerstone of any advanced social listening, customer experience analytics, image analytics and every other bit of intel brands are capturing online. This is because these capabilities rely on sentiment analysis for accuracy. Without context, the intel captured is questionable.
A sentiment analysis tool pulls emotions and opinions from consumers’ social media posts, comments, and reviews, allowing brands to see specifically what and why a consumer loves or hates a trend, product, a competitor or even your brand.
Below, we see this top shoe brand has lots of positive sentiment over the past month. But what does it mean? Without sentiment analysis, brands can’t know what’s driving this positive, or negative reaction.
Digging beneath the surface, we can get as granular as segmenting by emotions related to post-purchase behaviors and ongoing loyalty.
Understanding the ins and outs of your consumers feelings will keep your brand informed of what is working and what is not. You can use this intel to help improve campaigns, product innovation, consumer relations and much more. And these tools will help you do this!
Establish a baseline sentiment measurement for your brand and use this intel provided by NetBase Quid’s sentiment analysis tool to guide your brand to success. This social analytics tool allows your brand to keep track of sentiments using natural language processing (NLP). It dissects social posts and pulls emotions, opinions and sentiments from each word, closely tracking consumers’ emotional states.
And because NetBase Quid uses NLP, it is also able to detect sarcasm and decipher urban words and slang, pulling meaning and sentiment from them. Along with a host of other things, NetBase Quid’s sentiment analysis tool provides data on:
- Understanding your audience: Who are they and what are they interested in, specifically. Assumptions are dangerous – and they’re also unnecessary here.
- Locating and tracking emerging trends: Trends shift and change quickly. Being ahead of the curve is ideal and could shoot you into trend-setting And this is a very real- and very viral – possibility by reading predictive consumer sentiments on a myriad of topics and themes with this tool.
- Capturing feedback on products and services: Perhaps one of the most vital aspects of a sentiment monitoring is knowing what consumers love or hate about your products or brand. Look at sentiments from every step of the purchase path.
It is an all-in-one tool that does the heavy lifting for you, including offering alerts that keep your efforts on track in real-time.
2. Rival IQ
Complimenting sentiment analysis is understanding engagements and which posts resonate. In fact, this is a key part of this process. Examine the content that is preforming well for you and repeat those actions for greater success. And on the flip side, identifying content that’s falling flat is critical as well, as there’s no use wasting time and energy on something that isn’t working.
Additionally, you can evaluate popular hashtags, digging into their performance and see the posts that are driving their popularity. Sentiment and engagement go hand-in-hand and this social listening tool will provide you crucial data to inform you of your consumers’ wants, needs and desires.
Hootsuite is a great option for a simpler, yet effective, sentiment analysis tool – though it does require a bit more time and effort on a brand’s part.
You access sentiment analysis by first setting up a mentions stream in your Hootsuite Dashboard. You can also follow hashtags or keywords and then link it to your social media platforms. Once, this is set up, scroll your mentions stream for emotion keywords such as love, hate, adore, cringe, want, etc.
You can also search your brand name plus an emotion, such as brand+amazing. This will deliver mentions of your brand with this emotion attached. Be careful though! Hootsuite cannot detect sarcasm, so paying attention to context will be a must! This tool can be fully integrated with NetBase Quid to power up that sentiment analysis and apply the elbow grease so you don’t have to!
TikTok is set to be the third largest social media network in 2022. In the last two years it has taken off and captured consumers’ attention. This is all the more reason to have a sentiment analysis tool to read what’s really on consumers’ minds.
Repustate keeps brands up-to-date on the millions of daily videos shared on TikTok. And these videos provide brands with countless opportunities to uncover the how, why and what of consumers’ love/hate about a brand or product. With this social platform continuing to grow, getting to the bottom of feelings, emotions and sentiment here will be crucial for brands seeking to stay current and considered relevant by these fickle and fast-moving TikTokkers.
Integrate your brand reviews into this feedback analysis tool from Thematiic. This sentiment analysis tool offers a peek into the fluctuating sentiments of your customers surrounding products, customer care and your company itself. This allows you to uncover key issues and fix those bugs before they get out of hand.
This tool works by pulling out common themes and then assigning it a sentiment of either positive, negative or neutral. By providing a visualization, you can see how much gas is in your tank, allowing you to make any necessary adjustments to keep your vehicle on the road and riding smoothly.
6. IBM Watson–
“I love this coffee” could be read two different ways: It could be genuine emotion expressed by a pleased consumer, or it could be sarcasm expressed by a less than happy consumer. And that’s where IBM Watson’s tone analyzer comes in. As a sentiment analysis tool, it is able to detect tonal inflections in customer feedback and social posts, and then assign sentiment.
But it doesn’t just analyze customer tone, it analyzes your tone as well, so that all written communications, whether social posts or email, are perceived by the consumer correctly.
Google uses natural language understanding (NLU) to help derive meaning from any block of text, this includes pulling sentiment from data to enlighten companies on what people are feeling and really thinking behind what they say. And it’s able to do this in many different languages, which makes it a great choice for international brands wanting to keep an eye on how they’re perceived across the globe.
This is valuable for product insights and understanding how customers in different areas of the world may view your brand differently or use your product in a different way, allowing you to adjust messaging to fit their specific culture and needs.
If you’re looking for a more detailed approach to categorical sentiments, you might consider MonkeyLearn. Their sentiment analysis tool offers a bit more granular sentiment analysis. This means that instead of putting it into three categories of positive, neutral and negative – you instead have five categories:
- Very positive
- Very Negative
And this can come in handy when it comes to product reviews and understanding which aspects of a product your consumer enjoys or dislikes the most. MonkeyLearn offers aspect sentiment analysis that dissects sentences such as, “This shirt is too stretchy.” It understands that this sentence expresses a negative opinion about the shirt. This will help a brand fix this negative aspect if it’s found that the majority of their customers feel the same.
This sentiment analysis tool is very similar to our previous mention. It provides aspect sentiment analysis and is able to detect sarcasm as well as separate facts from opinions and discover polarities within sentiment. However, giving the user the ability to customize further and create their own dictionaries and models to integrate with Excel or Google is a big plus for this tool.
It’s good to look at sentiment, but it’s better to keep an eye on it over time. Callminer gives you the power to track sentiments over time and understand how you are doing now in comparison to a year ago. This juxtaposition provides intel on subtle shifts in opinion and emotions, allowing you to pivot quickly, or make changes in your products, customer service or whatever your sentiment analysis calls for.
We live in a society where social media rules, and many consumers go to their preferred channels to gather information on brands and products – and to talk about them. Keeping an eye on consumer sentiments being shared about your company and products using a sentiment analysis tool will be integral to your brand fitness this year, and in the years to come. Reach out for a demo and see what they’re saying about your category – and you – right now!