With the advancement of technology, people are talking offline and online about a brand. If the voice is not heard reputation will be at stake. Monitoring at both levels such as traditional media and social media is need of the time to understand the brand’s place in Industry.
For measuring the success of brand sentiment there are three ways:
- Expectations should be established which are realistic: Sentiment is an opinion or emotion which is conveyed in Brand. Sentiments would be positive, negative or neutral. Setting a goal to achieve 100 % positive sentiment would be impossible and unrealistic since the majority will be neutral. Hence, the goal should be to increase positive sentiment.
- Success Benchmark: Time stretch and branded mention volume should be tracked. Measure the sentiments during a stretch and set a particular time base for it. Sentiments against benchmark success should be measured. Annual benchmarks can also be set to ensure the progress over a year.
- Look for opportunities: The opportunity here is to convert negative and neutral sentiments to positive. If there is a customer complaint, it should be responded to quickly. Customers should feel how beautifully you convince and handled the difficult situation and their problems. Always keep an eye on potential crisis too. If there are any spikes in volume that is not a good sign. In that case conversation of the sentiments should be analyzed and if there any fires they should be removed.
With sentiment analysis, it will be easy to identify crisis and management of brand would be better.