How happy are Twitter users? Social media and the U.S. presidential election, how did it go? About nuclear power? About the end of the world? About technology, about innovation? About the iPad, iPhone, Android, BlackBerry or WindowsPhone? About the spread, the economic crisis, default risk and youth unemployment? Of Expo2015, startups and revolutions?
The key word is Sentiment Analysis! I want to introduce this process, the basis of communication and marketing strategies, which is sure to grow, even in our country.
"Sentiment analysis" refers to a qualitative analysis of online conversations that aims to understand the mood of users with respect to a particular brand, product, theme, or service.
The Web contains freely expressed opinions. Speeches that, if listened to, can be of enormous value to companies, for example. With the advent and then the boom of social media ( think of the ever-increasing demand for Social Media Managers by startups and companies) users , almost unconsciously, are spewing out in bursts through posts, tweets, #hashtags, comments, opinions, sentiments, indeed. We then talk about personal branding, making oneself a brand, spreading one's persona as if it were a real brand; but let's not deviate too much.
Sentiment analysis grows by leaps and bounds. It becomes an effective strategy for companies to test their brand, or to understand consumer needs, at the launch of a new product.
BARCLAYS BANK CASE
Barclays long ago launched a mobile banking app called PingIt that allows people to send money to other people using only their phone number .
It then contracted an agency to report sentiment analysis related to the app on social media. Only in this way did the company identify a number of negative mentions: the app did not allow under-18s to transfer money; this had caused criticism from parents who perhaps imagined using the app for their children. Thanks to the Sentiment Analysis process, Barclays was able to correct the flaws "on the run," being able to perceive and change the negative opinions.
Ergo , such analysis is crucial nowadays to know and identify the critical issues and strengths of your brand, your products.
But the concept has horizons beyond just business: if you will, the web and especially tools such as blogs, as social media, various platforms, are already in themselves virtual plazas that host a natural sentiment analysis, give voice to people, users, who criticize, like or dislike products, services, commenting on vices and virtues of society, the environment around us.