sentiment, build a more loved Brand!
Sentiment Analysis is the process of collecting and understanding customer opinions and interpreting their overall sentiment as positive, negative, or neutral.
In business terms, customer sentiment means ‘what kind of emotion/feeling the customer has about your company or its product‘. Although in everyday life sentiments cannot be precisely measured, the case with customer sentiment is different, especially at Tatvam as we quantify customer sentiments using the right customer sentiment analysis tools.
How Sentiment Analysis Matters?
Being able to understand customer sentiment helps drive sales growth, improve customer loyalty, and build long term relationships with them. It is essential to have insights and be able to monitor customer sentiment and tackle areas of disappointment.
Storing and processing large amounts of data to through conventional methods in order to understand sentiment is extremely time consuming and inefficient, hence we are equipped with sophisticated sentiment analyzers.
The Sorts of Sentiment Analysis
Customer sentiments can sometimes fixate on a particular product/service offering, or the sentiment can be about the brand in general, which leads us to brand sentiment analysis. Naturally, the customer may also have a sentiment about a particular market (e.g. foldable screens are a luxury item), making it necessary to have a market sentiment analysis system too.
We live in a world that is perennially connected and communicating through social media. Therefore, it is not surprising for customers to voice their opinions over social media about a product or a brand, especially when they have had an unpleasant experience. This calls for a social media sentiment analysis.
How We Do It
- Sentiments can show themselves in reviews, feedback, social media comments, and many other platforms.
- This data is unstructured and does not give a perfect insight into what the overall sentiment is.
- We identify and target keywords that make a review positive, negative or neutral.
- Through sufficient keywords, we are able to do a perception analysis that indicates the positivity or negativity of a customer’s sentiment.
- Obtaining data is one thing, but making sense of a ton of data in terms of sentiment monitoring is another.
- We have a unique rating system called the ‘Tatvam rating’ which is designed in a way so as to enable customer sentiment monitoring with considerable precision.
Topic-Wise Sentiment Scores
- Instead of having a general analysis, we have a more effective topic-based sentiment analysis.
- The topic-based analysis gives specific scores, thus letting particular sections within an organization know where to improve and what to change in order to improve or mellow out the sentiment.
- By tracking the scores of topics/sections continuously and observing trends, it becomes super clear and helps in understanding customer experiences to a much deeper level.
Competition Sentiment Tracking
- For a successful business, it is equally important to know the kind of customer sentiment shown towards competing brands.
- For example, the sentiment about a salespersons’ friendliness of company A is more positive as compared to that of company B, but B scores better in price related sentiment as compared to A. In short, if you are A, people like your employees but not your prices.
- This can help companies direct attention and resources in a controlled and systematic manner instead of random and haphazard action execution.
- Tatvam provides topic wise insights by deriving sentiment information from public reviews received by competitors, thus helping you gain an edge over the competition.
As said earlier, sentiment scores drive business growth, and that makes Sentiment Analysis really vital. If you haven’t opted for customer sentiment analysis yet, it is high time you did, and with the correct tools, Tatvam is here to help you! Contact us and discover how you can build a more loved brand!
Sentiment analysis is mostly done with the use of several analytics tools. However, in most cases, the analysis is done with the use of keywords. The AI tool searches across social media to look for specific keywords. This way, both the negatives and positives can be ascertained.
Sentiment analysis can come in handy for various reasons.
- It helps your business find comments and reviews that would otherwise be difficult to locate.
- It also helps lower the negative comments made on your business. After all, it could even be your competitor working against you.
- If gives you a wider spectrum of improvement.