In the age of big data, lots of companies are capitalizing on platforms that accrue personal data about their users. These companies make money by using that data to host highly targeted advertising. The ethical questions surrounding this business model have captured the attention of the world in recent years, but there is another model of using information from Web 2.0 to the benefit of marketing teams that doesn’t suffer from the same moral setbacks: sentiment analysis.

Sentiment analysis isn’t as widely discussed in public spheres as the technologies at big data companies like Google and Facebook. Perhaps that’s because no personal data is gathered in the process and it is therefore less controversial by nature, or maybe because relatively few entities have had access to effective sentiment analysis tools up until now. But new initiatives are changing that reality, and it’s time to reexamine sentiment analysis.

So, what is it? And how can marketing agencies benefit from it?

While big data companies gather personal details on individuals, a sentiment analysis engine sweeps across Web 2.0, analyzing publicly available texts posted on social media, blogs and other platforms in order to aggregate public opinions on any given item or topic. With an AI tool advanced enough to understand the nuance in text written by humans, this results in an overall picture of public sentiment.

While the potential of such a tool touches nearly every field and industry under the sun, it is a boom for marketing teams in particular. If you’re a marketer yourself, the lights have probably already turned on in your head; you can already see the value in access to easy, accurate reports on public opinion.

To examine the benefits and potential of sentiment analysis for marketing teams, as well as businesses in general, let’s consider a scenario that highlights the capabilities of sentiment analysis and would play out very differently depending on the availability of such technology.

You’ve launched a new product — a smartphone perhaps. The first day of sales went swimmingly; the product looks to be a big success. But within a few days, a catastrophic percentage of customers are returning their devices and making complaints about the product. What went wrong? And how do you address this crisis? News reports alarmingly indicate that many users struggle with the phone’s interface and some encountered technical faults. Panicked, you head to the online forums and consult with a few experts in the field, but you get mixed feedback. Some really like what you’ve done with the device. Others seem to think expectations built up from owning other phone brands have left customers disappointed and unable to adjust to your product while a few seem to believe there is a much more serious problem with your smartphone.

Using sentiment analysis, you can make sense of this chaotic mess of opinions. Though a series of quick queries, you can determine what customers complained about the most and why. On the flip side, you can find out what elements of your device were best received in its first days, helping you come to a conclusion of what needs to be changed and how. Even more relevant for marketing teams in particular, sentiment analysis can be consulted when trying to form a response to such a crisis. What issues need to be addressed in the company statement? Will the public respond best to a clear-cut apology, or could the flop be better addressed in a humorous ad campaign? These are questions that sentiment analysis can help you answer.

Sentiment analysis is a way to connect with your audience far more reliably than with bulky, time-consuming surveys or one-on-one interaction over social media. It’s a way to turn millions of conflicting voices into one, presenting you with both the good and the bad to help you improve your strategies and products moving forward. It opens a window onto the opinion of the masses, which is often far more valuable than the opinions of any one individual, and that’s a benefit that goes far beyond responding to crises. The likelihood of situations like the one described above occurring is reduced if sentiment analysis is used throughout the process of building a business or releasing a product.

This potential is becoming a reality for smaller entities and even individuals thanks to Senno, a new ICO with sentiment analysis tools that surpass the abilities of their forerunners and do so for lower costs and with a greater degree of reliability. Senno utilizes blockchain technology and its own crypto ecosystem to spread out hefty hardware requirements to many contributors, making the final product light and highly adaptable to the needs of each user. The age of sentiment analysis is here; it’s time to tap into what your customers want and how best to reach out to them.

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