Is there a free online sentiment analysis service for social media accounts?
It should be pointed out that sentiment analysis is used by a majority of social media monitoring tools. Free tools will usually not give an overview as comprehensive as the paid ones and while Brand24 falls in the latter group, I reckon it’s worth giving it a go since the trial account costs you nothing.
It is still difficult for a vast majority of tools to precisely evaluate what truly is a negative, neutral, and a positive statement. I am not quite sure about the mechanics behind it, but at the moment it’s not advanced enough to successfully deal with sarcasm or context of some of the discussions. Have a look at the example below:
As you can see, this mention from Twitter was labelled as a negative one. The reason for it is the word “guilty” which in its essence is a negative one. However, in this particular case, it was used jokingly and was not used in relation to any of the brands mentioned.
While it can be extremely helpful, there’s still a long way to go before sentiment analysis becomes more accurate. Even though it’s an automated process, marketers still need to evaluate themselves whether a negative mention is truly negative, for instance.
Yet, data from social listening provides you with a strong base for your market research. It is actually a more credible source of customer insights than any other study, like focus groups or surveys. Why? Because people share information about their preferences or opinions on products and services voluntarily. Thus, they are honest in their views published on their social media profiles.
Results and statistics from Internet monitoring are helpful in distinct areas of market research. By gathering information about people who share information about your brand, you can create a detailed description of a persona. You can also get valuable insights about your products for future development and improvement. Monitoring may help you specify the day or even the time of day when Internet users are most active.
Consequently, you can optimize your marketing strategy and focus only on channels that result in the highest conversions. Social media users may provide you with valuable customer insights about goods you sell. Your clients are the ones who use your products, so they are the ones who can inspire your future product improvements.
With tools like Brand24, for instance, you can get valuable insights about your brand, as well as honest customer feedback and inspiration for product development.