Sentiment Analysis For Marketing: API or Software Platform
As business dynamics evolve with the growth of social media and a burgeoning digital economy, sentiment analysis for marketing has become an essential technology. Marketers everywhere are turning to machine learning (ML)-based sentiment analysis to understand brand experience for effective marketing strategies.
This article explains what emotion mining solution will fit your needs best, in terms of usage as an API or a full-fledged software platform.
Why Do You Need Sentiment Analysis For Marketing?
Sentiment analysis is helpful in almost all industries because it helps you understand sentiment in text. This can be in customer reviews, news articles, surveys, social media, videos, comments, and other such data sources. It enables you to decipher market intent, fluctuating consumer behavior patterns and emerging trends so that you can plan impactful business strategies.
Below are some key ways in which sentiment analysis for marketing empowers you.
- Derive market and customer insights from social media
- Get holistic brand experience insights
- Patient and healthcare insights
- Better customer service
- Insights from Multilingual data
- News trend analysis
- Real-time sentiment insights from live streams
- Customer feedback analysis
- Manage online reputation
- Get data-driven marketing insights
- Develop high-performance advertising content
- Product development insights
- Competitor analysis
- Employee experience insights
What Is More Beneficial For Marketers - Using An API Or Software Platform?
As a marketer, you want to know the best way in which you can reach out to your target demographic and make a mark through high-precision customer experience analysis. That’s why you are interested in getting granular customer and brand insights through sentiment analysis for marketing.
What you need to decide is whether you need a comprehensive platform or a sentiment analysis API. These pointers below will help you come to a clear understanding of your needs. The noteworthy thing to understand, however, is that both options provide the same level of accuracy, granularity, and speed of insights.
Given this, let’s deep dive into the details.
Important Features And Benefits Common To Both Types
- Speedy time to market
- Multilingual sentiment analysis
- Integrate with your marketing CRMs like Hubspot
- In-depth brand and customer insights
- Competitor intelligence
- Minimal to no coding is required
- Can enrich your existing metadata
- Allows you to connect different data types across different servers
- Infinite scalability
- Customized aspect models to fit any industry-type
- In-depth social media analytics beyond vanity metrics
- Ability to extract insights from video data and comments
- Applications of real-time sentiment analysis
- Available on the Cloud and on-prem
Sentiment Analysis API
- Easy to install in a few clicks
Once the API for sentiment analysis for marketing is trained for your business and industry with the right training data set, it is ready to work in a few clicks. You can get it installed as an on-premises solution if you are on the fence about virtualized infrastructure, or you can have it as a Cloud-based API for your convenience.
- Can integrate with your existing dashboard
An API, like Repustate’s sentiment analysis solution for customer and brand insights, Repustate IQ, can integrate with any other reporting dashboard you may be familiar with. This means that you can plug in the API and see all the insights in a fashion that you are already familiar with.
Sentiment Analysis Platform
- Detailed Insights visualization
A sentiment analysis platform comes with a comprehensive insights visualization dashboard. You can see customer, market, and brand insights in the form of charts, graphs, percentile metrics, and word clouds. You can see aspect-emotion co-occurrence insights, sentiment trends, and sentiment scores based on data sources, languages, aspects, as well as the overall brand sentiment in order to create strategies to nurture brand loyalty.
Sentiment analysis for marketing, when processed through a software platform, allows you to change aspects and metadata based on your changing requirements. This is done through the platform’s intelligent dashboard with little to no coding, and without the need for any third-party software.
A sentiment analysis platform also allows you to set alerts and notifications for keywords, hashtags, brand mentions, or any other relevant detail. You can get these notifications on your mobile device or via email. This feature significantly helps in brand amplification and online reputation management, especially when it comes to negative brand mentions on social media, so you can take timely actions.
- Shareability of insights
Insights that you receive for marketing sentiment analysis projects can be shared with the larger teams. Thus, the relevant departments get these insights directly and can use them to build their strategies.
- Cost-effective compared to tools like PowerBI
A platform to process sentiment analysis for marketing that comes with its own reporting dashboard is far more economical than having a high-end tool separately, like PowerBI.
The advantage of having an artificial intelligence-driven sentiment analysis solution is that it keeps getting more accurate and smarter over time. This means that your return on investment increases with time. However, when you have an additional dashboard that is more expensive not only to purchase but also to maintain, it offsets the advantage that you gain with the ML model.
You can avoid this if you choose to purchase a platform instead of an API and use the platform’s features directly, including its intelligent customer experience insights visualization dashboard.
How Can I Select The Best Sentiment Analysis Platform?
Ultimately, whether you decide to go with sentiment analysis for marketing through an API or a full-fledged software platform, there are certain key considerations that you must pay attention to. These are:
1. The speed and scale of the solution
This is very important because you don’t want to keep paying for upgrades as your data requirements change.
This is a given. But what you need to pay attention to is that the API or platform has an optimal rate of accuracy for your particular industry and not generic accuracy.
3. Aspect-based sentiment analysis
So you can get granular, in-depth insights about all the important facets of your business.
In the true sense of the word, meaning that sentiment analysis for marketing is obtained from native natural language processing and not translations. Even though machine translations are becoming really remarkable they still can’t help capture consumer intent, understand sarcasm, or identify semantic similarities like a sentiment analysis tool with part-of-speech taggers can
5. Social media sentiment analysis
6. Multimedia capabilities
To extract insights from video and audio data apart from text such as from YouTube video analysis.
7. The ability to extract entities
In whatever form they might appear including abbreviations, misspelled words, etc.
8. A visualization dashboard
So you can see the insights as word clouds, percentiles, color codes, graphs, or in any other way that is easy to understand and share with the larger marketing team.
9. The ability to be customized
This allows you to alter aspects and enrich metadata as you grow.
10. Flexibility in deployment
Thus, allowing you to have it behind your firewall or on the Cloud.
The kind of solution you choose ultimately depends on what your business goals are and what you are expecting to gain from sentiment analysis for marketing. However, whether you are a marketing agency with multiple clients, marketing in small and medium businesses, or a premium brand renowned globally, the most important thing to note is that the sentiment analysis solution you purchase - be it an API or a platform - must give you high-precision results.
This means it must have native speech taggers for each language it processes, a robust named entity recognition (NER) system that can recognize entities for granular brand and competitor analysis, aspect models that suit your business-type, and infinite scalability that doesn’t depend on you being proficient in coding.
Repustate IQ gives you all this and more. It offers you in-depth market and consumer insights from all data types - video, audio, and text. It allows you to leverage social media listening, news, chatbot histories, emails, customer reviews, user-generated videos, and such, in 23 languages and dialects.