Article - Marketing

How to Improve Customer Experience with AI-Enabled Sentiment Analysis

Consumer demands are growing and in order to meet them, we should be making better use of AI-enabled sentiment analysis to help understand what our customers are thinking. With this technology we can provide tailored messages, products and campaigns to ensure that we meet the needs of our customers and let them know that we are listening to them.

AI-enabled sentiment analysis presents huge opportunities to automate as well as support today’s digital consumers. Soon, the level of knowledge needed to remain competitive will be impossible for humans to process, sentiment analysis helps us to keep up with this possibility and to ultimately exceed every single customer’s expectation.

AI systems can outperform entire teams of humans, with greater accuracy, and in some cases, AI can iterate so quickly that it invents solutions that humans had never previously considered. This is due in great part to the vast amounts of data that the specialized technology can analyze and consider in seconds. The sources that AI can use to make these conclusions are also incredibly diverse, allowing it to conduct sentiment analysis from unstructured data.

What is Sentiment Analysis?

Sentiment analysis is an artificial intelligence technique that uses machine learning and natural language processing (NLP) to analyze text based on scale and opinion which is positive to negative. AI develops algorithms based on information it is given. It’s one of the hardest tasks of natural language processing but it gives you the possibility to gain in-depth insights from social media conversations, online reviews, emails, ticket purchases, and more.

The benefits of the technology is substantial, providing new ways to tailor the customer journey, optimize messaging, improve customer engagement, and even identify top influencers in your customer base. AI can understand the emotional motivations that result in purchase intent and with enough access to data, it can not only understand what caused customers to convert but accurately predict what they will need next.

According to Forbes, between 2016 and 2018, 90% of the world’s data was generated. It’s not surprising then that humans are resorting to technology to help decipher this vast amount of information, increasingly, scalable AI will prove the only truly viable solution.

A marketer’s analysis of convenient, incomplete data will no longer be necessary. AI has the power to provide all the context we need to reach out to customers effectively. Sentiment analysis could therefore, mean an end to irrelevant email, advertising and messaging for consumers and focus on the experience.

Speaking at one of our Digital Marketing Summits Ekta Chopra, Chief Digital Officer at E.L.F. BEAUTY, talked about customer experience, stating, ‘it’s not just about selling stuff. It’s gone beyond selling it’s now become an experience that you need to bring together online. How do you do that when your consumer now has so much choice? You need to build an ecosystem and be where your consumer is. That could be social channels, an app, a site or walking into a Walmart or Target and living the brand and that experience that you want to offer them at every single touchpoint.’

Marketers know that customers won’t just accept generalized messaging, so the move to AI seems inevitable. However there are considerations with AI and sentiment analysis such as privacy limits. GDPR restricts access and some of AI’s autonomous decision-making capabilities but AI is only as powerful as the amount of data it can consume, so the accuracy of the technology depends on the erosion of personal privacy.

That being said, the sheer volume of information that exists on social media alone should be enough for marketers to leverage startling accuracy on demand. Compared to the blindness of POS data, even a restricted AI system could dramatically improve customer relations, provided it is handled carefully and educated against its development of biased models.

Sentiment analysis promises to achieve the impossible for marketers and it’s an offer that’s far too tempting for many to ignore. The arrival of new technology has caused a wave of digital disruption in recent years and businesses that have struggled to keep up have either disappeared or lost significant market share. Companies are acutely aware of this, so it is unlikely that the potential of sentiment analysis and AI will be underestimated.

GDS Summits are tailored 3-day virtual event conferences that bring together business leaders and solution providers to accelerate sales cycles, industry conversations and outcomes. Regarding the CMO Brand Summits, 88% of Delegates said their overall experience was Above Average or Excellent and 88% of Sponsors said the quality of their 121 meetings was either Above Average or Excellent. For more, click here to hear from attendees on how GDS has helped them to achieve their business outcomes.

GDS Group hosts experts to help experts. We strive to provide an atmosphere for our attendees that enables them to confidently lead their companies through major transformation projects. For information on upcoming events, view our view our Digital Summits. To remain current on our activities, visit GDS Group on LinkedIn | Facebook | Twitter.

 

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