We have too much content. Movies are produced, millions spent, but many won’t survive much beyond their opening weekend. TV shows are made, pilots launched, but some are cancelled after just a few episodes. Meanwhile consumers complain there are too many channels, too many shows, but there is often “nothing on” that they want to watch. Why the disconnect?
A new area of research called Social Sentiment Analysis is aiming to find out. Social Sentiment Analysis represents the next generation of predictive analytics based on its ability to understand the motivations of people before they act, rather than afterward. From determining a movie’s outcome to understanding the impact of gender dynamics on an ad campaign, Social Sentiment Analysis can be used to get to the heart of any inquiry. Social Sentiment Analysis returns the most authentic data possible, because it comes directly from social conversation, unscripted and unprompted. It’s like listening to exchanges between friends and neighbors going back and forth over the back yard fence without anyone knowing you are there.
So how can you use Social Sentiment Analysis to make sure you are producing the right content, targeting the right audience, in a way that increases your chances to hit your financial goals? In short, Social Sentiment Analytics (SSA) uses “soundings,” or multi-level measurements from social media conversations, to predict and determine audience reaction to a topic before, during, and after the event. The method combines sentiment and volume to predict the success of a movie or TV show.
Consider this nice little white paper from SeaChange that gives a good primer on the concept:
The white paper takes a case study from the recent movie “Black Mass.” It takes soundings of some key terms, such as “Johnny Depp”, “Boston”, “Whitey Bulger”, and “Ganster”. What it found was that according to Social Sentiment Analytics, despite being critically acclaimed, the movie would not hit its revenue targets.
The impact of Social Sentiment Analytics for content producers is far-reaching. But there is also benefit for advertisers and marketers, who can now better promote or sponsor movies and shows using the themes that will best resonate with audiences (for example, creating movie trailers that are most compelling, or creating ads that link to the audience’s sentiments).
After you’ve had a chance to read the white paper, I’d love to get your feedback on Social Sentiment Analytics and ways you think it might be applied. Please drop me a line.
CEO and Chief Trender, Trender Research, Inc.
Founder, OTT Executive Summit and Magazine