Optimizing Marketing Strategy and Campaign Effectiveness with Sentiment Analysis
About the Client
The client is a Fortune 500 food service industry player in the US who recently transitioned its presence from a brick and mortar store to a mainstream, online business model. They were looking at leveraging online sentiment analysis to verify if their online presence was well-received by its global customer base.
The Business Challenge
The abundant data source available today makes it challenging for businesses to gauge and extract valuable insights from them. By leveraging the use of sophisticated algorithms and by using the right sentiment analysis tools businesses can gain granular insights from data. Most of the sentiment analysis tools not only measure the overall emotional vibe of user-generated data but are capable of offering unprecedented granularity.
Sentiment analysis is a contextual data mining technique that focuses on identifying and extracting subjective information from user/customer datasets to help businesses understand the social sentiment that exists between the user and their brand while monitoring online conversions. Talking about social sentiments, social media monitoring is usually restricted to just basic sentiment analysis and count-based metrics. However, the use of social media monitoring tools alone is akin to scratching the surface and missing out on the high-value insights that are waiting to be discovered.
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So what should businesses do to capture that low hanging fruit, you ask? With the recent advances in deep learning, the ability of algorithms to analyze data has improved considerably. Creative use of advanced sentiment analysis methods can act as an effective tool for research. We believe it is important to classify incoming customer conversations about a brand to identify new opportunities and implement new processes. Gaining insights on online perceptions is no more a trivial thing, but a game-changer across industries. Though an enterprise can be discussed on a myriad online platform, with their own proprietary formats, and with various levels of accessibility. Collecting and unifying disparate datasets turn out to be a key aspect of the mandate.
A compelling opportunity to leverage customer data to answer strategic questions about their services and business performance is what made the food service firm approach Quantzig. The client wanted to leverage sentiment analysis to gauge customer sentiments and most importantly to gain a better understanding of the potential opportunities for improvement.
Problem Statement 1
Managing huge volumes of social media and other enterprise data posed a significant challenge for the organization and required substantial investments in people, processes, IT tools and infrastructure.
Problem Statement 2
The lack of domain capabilities and budgets, disparate databases and organizational silos prevented them from effectively using social media data.
Problem Statement 3
The third predicament faced by the client revolved around formulating customized strategies to capitalize on unique data sets. To do so they wanted to leverage a fact-based decision making culture across their organization and focus on achieving specific goals.
Using sentiment analysis businesses are revolutionizing the way they operate. We have created entirely new methods for engaging customers—illustrating the disruptive power unleashed by comprehensive sentiment analysis models. Request a FREE demo to gain detailed platform insights.
Solutions Offered and Value Delivered
To better understand the challenges faced by the client the sentiment analysis experts at Quantzig performed an initial review of the organization’s online presence and identified several online channels where they were being discussed. The solutions offered were designed to identify key metrics for customer sentiment analysis. This helped the client to enhance their service offerings to better serve their customers.
To address the challenges faced by the client the analytics experts at Quantzig adopted a comprehensive sentiment analysis process which consisted of the following three phases:
The initial phase of this sentiment analysis engagement revolved around identifying data-driven metrics that could be used as key indicators to gauge customer sentiments.
In phase two, we leveraged advanced analytics techniques and sentiment tracking to analyze unstructured datasets and categorize customer sentiments.
The use of statistical modeling techniques in the third phase of this sentiment analysis engagement enabled the client to access real-time customer sentiments and draw conclusions of their actions.
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Summary of Our Sentiment Analysis Engagement
Based on the solutions offered, the client gained in-depth insights into customer perceptions and their online presence. Quantzig also identified key metrics that could be calculated from the data to provide indications about the online sentiments of customers. As a result, the foodservice firm was able to succinctly understand their customer’s perceptions. However, this did not stop here sentiment analysis also enabled the client to understand their employee’s perceptions on a few job-related websites. Equipped with such granular insights the client was able to leverage sentiment analysis to optimize their marketing strategy. Also, by listening to their customer’s perceptions about their brand they were able to adjust their high-level messaging and marketing campaigns to meet their needs.
Quantzig is a well-known analytics service provider that offers a complete, turn-key approach to define, implement, and support a wide range of big data and advanced analytics solutions. We combine our analytics and subject matter expertise with advanced analytics methodologies to ensure timely completion of our initiatives. Our sentiment analysis solutions help drive business value, thereby helping our clients meet their ROI expectations within a short span of time.