NLP can help improve sentiment analysis

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 17, 2021, 4:38 AM GMT+0

Monitoring competitor keywords online help brands assess consumers’ sentiments towards competition.

Conducting sentiment analysis using data-driven, AI and machine learning technology can help brands determine whether or not consumers’ statements online are positive, negative or neutral. Collect data like keywords and statements across the internet and classify them based on their emotions using Natural language Processing (NLP).

To gather data on consumer perception towards the brand and collect actionable insights, conduct qualitative and quantitative market research. However, marketers must consider negations like sarcasm and view them in the full context while analysing sentiments as these can often trick algorithms.

Analysing buzz words around campaigns and new products further provides brands with actionable insights on sentiments and enhances strategies like product development. Companies must lookout for trends and create marketing campaigns around them to bolster their position as an expert in the industry.

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