Entering Iran’s Market; The value in Monitoring Iran's Media
The level of interest in doing business in Iran is on the rise within the international business community. The positive effects of lifting economic sanctions (which were previously imposed on Iran, and subsequently, its major business partners) are many, and one of them is that foreign businesses are again able to enter Iran’s market and benefit from the potentials of this country.
Iran’s consumer market of about 80 million people, its young and educated workforce, the country’s strategic location, and the political stability it offers within an ever turbulent region, are the main attractions of doing business in Iran.
The Role of Sentiment Analysis in Monitoring Iran’s Media
Media Monitoring reports generated out of print, online or social media, are usually filled with a variety of metrics, measurements and definitions, mainly related to the type or focus of the media outlet, demographics of the readers, size, reach and other factors.
One of the important qualitative data which normally appear on media monitoring reports is “Sentiment Analysis”. In simple terms, sentiment analysis tells us if a piece is positive, neutral or negative in relation to the brand (or product) in focus.
Sentiment Analysis in Iran
Depending on who publishes what sort of material in which media or social media platform, the level of the effectiveness of a given piece varies greatly. An article with negative sentiment against your brand written by a famous journalist in a newspaper can ruin your company’s reputation for months, while another individual’s post on a less viewed blog can sometimes be ignored altogether.
But it is not always that straightforward.
Why do we need Social Media Monitoring in Iran’s market?
Social Media is not just a great source of traffic which can direct users to your website. Much more than that, it offers a large pool of data that can show you how your real end-users react to your brand, your services or your products, and even to your rivals.
When they get online, people tend to be pretty vocal about everything, and they easily share their honest opinion about different life matters. They may even get into long discussions with others about how good or bad a certain product is, what improvements it requires, if it is overpriced, cheap, or not functional. They may become your brand’s free advocates, or follow online influencers and pick sides next or against you.
The important questions are;
How much is your organization aware of these voices? And how involved can you be in shaping these opinions? Are you responding to them in a professional manner? Do you even have a proper mechanism to gather these reactions, study them, and adjust your products, services and brand position accordingly?