Doing business today is certainly vastly different to how companies conducted business in the past. The internet, smart phones and more have transformed the business world in extremely significant ways. In many cases, it has made doing business easier.

This is certainly the case when it comes to gauging consumer sentiment regarding a product, service or brand. This information is easier to obtain than ever before thank to advances in technology. Below are five tools you can use to find out what people think about your company.

Social Media Mentions

Social media networks like Facebook, Twitter, Instagram and more are used by millions of consumers. You need to track the flow of information from these social networks to keep a tab on mentions of your company, brand or products. This can give you great insight into what people think about your business.

Online Surveys

In the distant past, you may remember filling out surveys regarding products and brands at the mall. These have been largely replaced by surveys that are filled out online. You may need to offer coupons or discounts to entice people to take such surveys. However, the data you collect can be well worth the price.

Specialized Software

You could also invest in specialized software that will track the reputation of your company, products and brands. Having software automate this process for you can help save your business a lot of time, money and manpower. Sentiment analysis software is a smart way to take all the chatter about you online into a information you can use to better understand with customers.

Online Customer Service

Customer service is integral to keeping a finger on the pulse of consumer sentiment. Without online customer service, you may not be made aware of many issues customers are having with your products. These days, it’s not enough to perform customer service over the phone. You also need to do so online through e-mail, live chat and contact forms made available on your website.

Online Reviews

There are a plethora of review websites for different products and services. Sites like Amazon also allow customers to write reviews for any product they purchase. This is valuable information regarding consumer sentiment you should take seriously. Most consumers are very honest about what they like and dislike about a product when taking the time to type a review.

Consumer sentiment is vital to a company’s survival. It’s often a sign of whether a product or service will succeed or fail. Do what you can to keep a tab on consumer sentiment including using the five tools listed above.