It may be hard to put a dollar amount on what social sentiment is worth to your company, but it is one of the most valuable tools your company can harness. Whether your organization is already aware of its social sentiment, or it hasn’t yet begun to monitor it, companies should take heed to the power of sentiment. A customer’s perception and attitude towards a company has a tremendous impact on the success of the business in the realm of social capital.
Last year, notable director Kevin Smith was ejected from a Southwest Airlines flight because he was considered an oversized passenger by Southwest Airline’s “Customer of Size” policy. With over two million twitter followers, Kevin Smith took to social media and started a PR disaster for the airline. Southwest lost a significant amount of customers because of the way the situation was handled. While it is true that not everyone has over 2 million followers but almost any social media user knows how to influence their network in just 140 characters.
Sentiment is subjective. If you provided the exact same service for two customers their perception of that service could be polar opposites. Companies will never be able to produce a perfect experience for their customers one-hundred percent of the time. So if you can’t make everyone happy what’s the point in monitoring sentiment?
Sentiment allows companies to know what’s being said about their brand. If your company is investing money into building social capital there must be a reason. Whether it is brand image, awareness, or increasing sales, the goal must be tied back to a company objective. Knowing what is said about your brand can affect all three areas.
Sentiment can potentially show areas of growth. While monitoring the conversation new ideas might be presented by customers. Getting feedback of existing services and products might provide valuable insight into areas that you might not have thought of.
Positive Sentiment can provide new customers. . Peer to peer recommendations typically carry more weight than business to customer. If customers are happy and excited about what you have to offer they will use their influence and social reach to tell about a service or product. In fact, many social media users turn to their network of followers or friends specifically for recommendations on restaurants, products and more.
In the age of social communications customers cucuare quick to turn to their social networks to share the details of a bad experience or a disappointing product. One bad review to a large audience is all it takes for the airwaves to catch on. Big and small brands are at the mercy of the consumer’s opinion and outcry of unhappiness.