How to Measure Customer Sentiment?
Businesses often confuse customer sentiment with customer emotion. A customer may feel sad or angry as emotions, and this depicts a negative sentiment by the customer. Emotions change multiple times during the day, but the sentiment shows the overall attitude of a customer towards the brand.
Customer sentiment is vital and can be the difference between no loyalty or loyal customers, between no business or returning business, between satisfied customers or unhappy customers. If you don’t want to lose your customers, make sure to practice sentiment monitoring and measure customer sentiment.
What is Customer Sentiment?
Customer sentiment is basically a metric used to measure a customer’s opinions, feelings, and attitudes towards a business, its products, and services. It is measured across a scale showing positive and negative sentiment.
Customer sentiment also describes customers’ urgency and whether or not they are interested in the brand. Customer feedback can be either quantitative or qualitative, addressing the overall brand or just specific services and products.
Why Should Brands Care About Customer Sentiment?
The customers’ attitudes and feelings towards a brand or its services can either make or break companies. It is critical to measure customer sentiment because brands can find recurring themes in customer sentiment that helps identify negative and positive aspects of the business and products.
Customer sentiment offers feedback about a business’ efforts to generate a positive response from customers. Positive sentiments show that the brand is doing things right, while negative sentiments push brands to make improvements to their products or services.
Through the measurement of customer sentiment and insights, brands can offer a better buying experience to customers. They can improve their services and products based on what their customers want or what they don’t like.
Measuring Customer Sentiment
Measuring customer sentiment involves science as well as interpretation. It is a time-consuming process, and different brands use different metrics to measure customer sentiment. Actions taken by customers, their tone, emotions, etc., are some data used commonly.
Brands rely on human methods, machine learning algorithms, or a combination of both to analyze customer sentiments. This is important because if a brand sees a spike in mentions or reach on their social media handle, it does not always mean positive. These reactions can depict negative sentiments as well.
Here are the top metrics and key insights used for measuring customer sentiment.
Comment velocity shows that something has triggered a brand’s customers, and they are talking about it in a good or bad way. When the velocity of comments is high, it shows that a marketing campaign or social media post is doing good.
On its own, comments velocity tool does not measure customer sentiment totally and has to be measured along with the tone of comments.
Most comments received on social platforms are either positive, negative, or neutral. Brands can assign a start and end to incoming comments about an event or post. Assign a sentiment score based on the ratio of positive, negative, or neutral comments. Brands can measure customer sentiment based on pre-event sentiments compared to post-event sentiments. The tone of language used in comments is also important.
Social platforms like Instagram and Twitter have ‘likes’ that indicate positive approval by the audience or consumers of a brand. Brands can sort reactions and have an understanding about customer sentiment. Facebook has a wider range of reactions, including both positive and negative. Measuring these reactions is great to understand overall customer sentiment.
Brand or Company-Specific Shares
A brand can track brand-specific shares made by its audience, which shows that customers have trust in the content shared by you. If customers like your curated content, they are more likely to share it. Brands can switch their strategy if their audience does not share or engage with shared content regularly.
The volume of brand mentions shows that the audience is interested in the brand and is talking about its services and products. When the overall volume goes up as compared to average volume, it shows that customers are actively talking about the brand. However, the mentions can be both negative and positive.
When the frequency of mentions goes down, it indicates that a brand should pay attention to its social platforms. When the frequency does not change much, it can show that the brand is losing relevance. Frequency fluctuations give an idea of how customers currently feel about the brand.
Mentions Tone and Context
The tone and context of mentions are a great metric for customer sentiment. It is possible that customer interactions are rising, but most of them are complaints from consumers. In such cases, brand can identify what to improve and provide a better experience to customers. Positive mentions push the brand to continue doing what is performing well.
Net Promoter Score or Customer Satisfaction Index
One of the top metrics for customer sentiment, it tells how consumers feel about certain services or products. Brands can ask customers for feedback and measure the overall sentiment. The use of the NPS model allows brands to focus on social sentiments too when reviewing feedback and calculating sentiment scores.
Another important metric is customer reviews, where people describe their experiences of a product or service. Customers use a star rating and leave details in their reviews which can include both negative and positive sentiments.
Even if the rating is good, detailed reviews include a lot of information that brands can target. Brands can recognize common issues and improve their services after going through customer reviews.
Social Engagement Trends
Brands can regularly monitor social media trends and consumer activity so that they can identify any trend shifts and stop potential reputation crises. These trends can include a drop in likes, comments, mentions, etc., or a change in messages, registrations, and customer responses.
Gain Insight by Measuring Customer Sentiment and Keep Your Customers Happy
Customers are the most important part of any business, and it is a brand’s duty to keep its customers happy and satisfied. Through customer sentiment, brands can recognize whether their consumers are happy or sad.
Measuring customer sentiment allows brands to know about negative experiences or negative feedback by customers and work on improving them. Through actionable insights obtained by brands, they can modify their offerings based on the customers’ needs and make them satisfied.
Make sure you measure consumer sentiment and focus on what’s good for your customers.