People will forget what you said, people will forget what you did, but people will never forget how you made them feel –this statement holds extremely true in the world of retail as well. With the explosion in the availability of smartphones, a whole lot of opportunities have opened up for customers to express their feelings about anything at any time. This opinion or "sentiment" is often generated through social channels in the form of reviews, chats, shares, likes, tweets, etc. By analyzing these sentiments accurately and analyzing the things that upsets the customer, a retailer can focus more on what will make a difference.
The sentiments expressed by the customer have vital data hidden in them. With the help of sentiment analysis, a retailer can classify whether a customer is satisfied, happy, or irate by the product or the services provided by the retailer. Sentiment analysis categorizes the feedbacks on the basis of the mood of the customer. This allows the retailer to improve the marketing and sales strategies which as a result leads to a better customer retention rate and a higher profit margin.
Softweb Intelligence and Analytics platform (SIA) can assist the retailers to categorize such feedbacks on the basis of customer’s sentiments in a swift manner. SIA is powered with advanced analytics algorithms that can lower down the filtering complexities for the retailers allowing them to focus their resources on plotting the roadmap for better marketing and sales campaigns for the business. With SIA’s assistance, retailers can also personalize these campaigns for specific loyal customers.