Sentiment analysis tells you how people are feeling: About your brand, about a topic, about your industry. Competitive intelligence tells you how your competitors are doing, reacting to changes in your industry or maybe being the ones to create them.
So how can each of these metrics help your brand on their own and how can they help you together? What should you be looking for with each? The latter will depend based on your particular brand and your goals (spoiler alert: this is the answer with almost any metric because no two brands or goals are alike) but there’s a lot to think about as we head into the second half of 2017.
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We initially introduced our sentiment analysis in May, then made it publicly available in all Twitter and Instagram Trackers this month. In those posts we touched on a lot of the things sentiment can do, including:
- Monitor changes in brand reputation over time
- Track changes in opinion and mood over time
- Research customer opinion about your company and products
- Compare perception of your brand to your competitors
- Evaluate the qualitative success of a campaign
- Pinpoint key topics or posts driving sentiment up or down
- Identify important trends, news articles and media
- Identify potential issues early, before they develop into full-blown crises
- Assess the actual impact of a crisis
Sentiment is especially useful when it comes to social media crisis monitoring. Not only can you keep an eye on overall trends on social and the mood of your audience to gauge ahead of time how your content might be received (and therefore avoid potential crisis-causing social posts) but you can contextualize a crisis once it begins to happen and even after it’s over to learn better for the future.
It also helps you identify any brand or employee advocates defending you through a tough spot for your brand, and if you’re using our analytics, you can see at a glance if this crisis is part of an overall trend in negative sentiment around your brand with our specific features:
- Change. The change percent shows you how much higher or lower the sentiment score is for the current time period relative to the previous time period. If your Tracker is new, this will show n/a until there’s data in the previous time period to show.
- Average daily score. This shows the average daily sentiment score for the time period you’re viewing. The chart shows the intensity breakdown on the right x-axis – red for negative posts, gray for neutral, and green for positive posts. The line shows the average daily sentiment score on the left x-axis.
There are a lot of other applications for sentiment analysis we haven’t even touched on yet- such as vetting an influencer before you start a campaign or partnership- that we’ll be exploring in the coming weeks here on the blog. If there’s something in particular you’d like us to cover, definitely let us know!
There’s a lot to be learned from the competition, not so you can copy them but so you can think of smarter ways to reach the audience you’re both targeting. You can use what you learn from monitoring the competition to improve your own strategy in several ways:
- Work strategically to improve your engagement if you see it dropping or holding steady while a competitor’s increases. How well do you know your audience? Are you talking to them in the right ways?
- Be sure you’re implementing what you’re learning from the competition. Are they doing a lot of video and getting a good response? What types of video could you work into your content strategy?
- How’s your share of voice in your industry? Use it to contextualize your other marketing KPIs. You can scale your other goals according to where you stand in terms of the rest of your industry.
None of this is possible without a robust measurement system in place. Our Trackers allow you to track any public accounts, making it easy to keep an eye on what the rest of your industry is up to. We also offer Facebook competitive reporting to keep a clear and focused eye on the competition on one of the biggest social media platforms for brands.
Want to get started?
Full access to these features comes with our Social Suite. We’re happy to give you a personalized demo so you can see exactly how they would work for your brand. Get started by clicking on the button below.