Sentiment: The Art and Science Of Measuring Emotion

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Information about Sentiment: The Art and Science Of Measuring Emotion

Published on May 16, 2016

Author: brandwatchsocial

Source: slideshare.net

1. Karina Taylor, U.S. Bank @karinataylor Sentiment: The Art and Science Of Measuring Emotion

2. • Heavy focus on marketing as an ‘art’ • Attempt to copy success without quantifying goals or using data How Information Becomes Knowledge

3. • Heavy focus on marketing as an ‘art’ • Attempt to copy success without quantifying goals or using data • Desire to be more data driven • Focus on high-level metrics • Lacks cadence • Lacks specific goals How Information Becomes Knowledge

4. • Heavy focus on marketing as an ‘art’ • Attempt to copy success without quantifying goals or using data • Desire to be more data driven • Focus on high-level metrics • Lacks cadence • Lacks specific goals • Periodic reporting is standard, though often over longer periods of time • Patterns of successful tactics are identified but not translated to case study How Information Becomes Knowledge

5. • Heavy focus on marketing as an ‘art’ • Attempt to copy success without quantifying goals or using data • Desire to be more data driven • Focus on high-level metrics • Lacks cadence • Lacks specific goals • Clear, regular cadence to measurement. • Knows key metrics across channels and has specific goals for improvement • Understands how to measure marketing ROI • Benchmarking is ongoing and pervasive • Periodic reporting is standard, though often over longer periods of time • Patterns of successful tactics are identified but not translated to case study How Information Becomes Knowledge

6. The Problems We Have

7. Problems We Have Strategy • Segmentation • Targeting • Positioning • Product Tactics • Social Channel • Content Format • Ad Format Creative • Copy/Voice • Images • Video Real problems that we need to test

8. Problems We Have Strategy • Segmentation • Targeting • Positioning • Product Tactics • Social Channel • Content Format • Ad Format Creative • Copy/Voice • Images • Video Statistics • Not Enough Data • Bad Experiment Design • Video • Correlation vs Cause OR Real problems that we need to test Data problems

9. Problems We Have Strategy • Segmentation • Targeting • Positioning • Product Tactics • Social Channel • Content Format • Ad Format Creative • Copy/Voice • Images • Video Statistics • Not Enough Data • Bad Experiment Design • Video • Correlation vs Cause When you’re wrong, you don’t know it. OR Real problems that we need to test Data problems

10. Sentiment & Share of Voice Challenges • Neutral mentions have the most volume • Variance is common • One time events can affect sentiment significantly • Share of Voice is too general to be actionable Brand Negative Neutral Positive Total Volume Bank of America 6% 88% 6% 253,713 Chase 7% 84% 9% 123,950 Citibank 5% 88% 7% 200,936 Fifth Third 6% 83% 12% 10,069 PNC 5% 86% 9% 42,476 U.S. Bank 3% 87% 10% 51,288 Wells Fargo 5% 87% 8% 327,957

11. Sentiment & Share of Voice How do you use it? Sentiment • Do you use it for planning, goal setting or strategy? • Can you understand your own data? • Is the data accurate enough for reporting? Share of Voice • Does it help you monitor trends and adjust your strategy? • Is the data relevant? • Is there a place for share of voice in your reporting?

12. Sentiment: Don’t Work Without a Net Using Net Sentiment Calculate sentiment on a scale of -5 to +5, excluding mentions with neutral sentiment. Improves readability and comparability over time. Calculations difference = positive - negative sum = positive + negative net sentiment = (difference / sum)*5 Brand Negative Positive Total Volume Share of Voice Net Sentiment Bank of America 6% 6% 253,713 25% -0.1 Chase 7% 9% 123,950 12% 0.9 Citibank 5% 7% 200,936 20% 1.1 Fifth Third 6% 12% 10,069 1% 1.7 PNC 5% 9% 42,476 4% 1.3 U.S. Bank 3% 10% 51,288 5% 2.6 Wells Fargo 5% 8% 327,957 32% 1.1

13. Optimize Listening: Auditing Auditing Considerations Auditing = Accuracy. You need to audit (verify and adjust) sentiment for all brand mentions. Unadjusted, totals were: 10% positive and 3% negative (net sentiment +2.6) Social data to the left has an adjusted net sentiment of -0.7 A difference of 3.1 points

14. It is getting SO much easier, but… Sentiment Queue’s Abound • Emoji's • Facebook Reactions • Twitter GIFs • Bitmoji

15. Reporting & Sentiment 1 Awareness 2 Engagement 3 Acquisition

16. Awareness Awareness: How many people do we reach? Measurements include: • Impressions • Organic Reach • Promoted Reach • Ad Reach • Buzz • Share of Voice • Shifts in Sentiment

17. Engagement Consideration: How is the campaign being received and are we leveraging any influencers? Measurements: • Sentiment • Clicks • Comments/Replies • Shares/Retweets • Completions [Video/Quiz/activity]

18. Acquisition Conversion: How many people completed the action we predetermined during the objective phase? Measurements include: • Application Starts/Submits • New Accounts • View a video segment in its entirety or for :30+? • Lead Form/Inquiry Completion • Referral to MLO or Wealth Manager

19. Challenges in Reporting Sentiment Issues In Reporting Sentiment: • Explaining sentiment • Accounting for variation • Differentiating from click and impression data

20. Scorecards with Sentiment Working Around The Challenges: • Visual representation of complex topics • Separate from more common digital metrics • Educate within reporting

21. Thank You!

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