It would not be surprising if I say that social data is the new black. The advent of social media has, most definitely, transformed the manner in which a business interacts and engages with its customers.
Today, enterprises across every industry are making use of social networks to promote their products & services, as well as, timely monitor at what is being said about their brands. Of course, on any given day, organizations are swamped by a torrent of social data, which ranges from thousands of interactions, Twitter mentions, Facebook likes, to questions, complaints, and the latest trends & news. Nevertheless, it is only with the right analytical tools and expertise that businesses can leverage this resourceful data trove to their own advantage. Here’s a sneak peek on how to actually make use of this flood of social data to generate actionable insights that can impact the top & bottom lines:
- Look for messages that actually matter
As mentioned earlier, each enterprise is barraged with a massive amount of social data, which to be very honest, can seem daunting and overwhelming. However, by harnessing the power of data analysis, enterprises can scan through the text, and look for those messages that actually matter to the business. These may include pressing needs of customers, urgent requests, posts from influential personalities, or even, articles/blogs posted on various forums. By applying algorithms, sentiment analytics, & machine learning techniques, data analysis filter out the noise, thereby putting forward only those critical messages, which need immediate action.
- Justify your tactics
With the help of social data analysis, companies not only become adept at understanding what did well but also, why it did well? This is important because social media is a platform which is ever-changing, throwing at us, new trends & ways of engaging with users. It is imperative for companies to constantly test and justify their prevalent tactics if they wish to derive benefits from these changes. A trend which became the buzz last year may not even hold true in the present quarter. Hence, instead of analyzing which post outperformed, it would be prudent to use analytics to comprehend why it performed so well? Or is there a need to change the frequency of making a post? Or is it required to incorporate a better and effective technique for grabbing the attention of prospective customers?
- Track unusual changes or activities
An abnormal surge in the number of messages on social media is usually an indication of a significant event. Of course, considering the different time zones, it is not always possible to manually track the changes or activities that occur across different platforms. Nevertheless, analytics can be utilized to keep a tab on the overall messages, focusing on important key phrases, so that critical issues can be addressed instantly before they go viral.
- Automatic segregation of messages based on sentiments
By implementing sophisticated analytical techniques, companies can skim through thousands of messages, segregating them, according to the positive, negative, and neutral sentiments reflected by them. This helps an enterprise to obtain an insight on how consumers perceive the brand. It also exhibits an intention to buy, the probability of a customer opting for any other brand, or how each event/activity can impact the target audience.
Data analysis in the context of social media has surely opened up massive opportunities for every business. By tracking and analyzing social data, companies are now all the more equipped to gauge consumer interest, determine the right promotional strategy, prevent PR mishaps, and even, enhance their margins.
Acer Innovation is a leading edge data analytics firm providing consulting services across a diverse range of industries. For more information on its use of technology and services provided, one may visit http://www.acerinnovation.com/