5 Ways to turn social data into actionable insights
Corporate world revolves around the success calculations, figures, and measurements. This world remains in consistent effort to distill every minute into statistics and numbers that can be compared. But it’s a useless exercise to collect data or metrics just for their sake. Data is considered valuable when it is mined for some actionable insight.
Social data is continuously increasing with millions of Tweets and Facebook likes per day. According to an opinion, graph of active social users has been raised to 1.3 billion users around the world. Most of the enterprises have developed their social strategies and others are struggling to develop the strategy to utilize the growing amount of social data. But what can they do with it and what can they gain?
I admit that a lot of social monitoring tools are available now days but they aren’t quite enough to build a sensible and successful strategy as a result of this social information/data.
Here’re some important tackle key ways that can help the companies to create really an actionable insight from the infinite volume of social data.
Monitor your company and brand
Companies related to business intelligence like SecondSync, ReviewPro, and Next Bing Sound are defining new and specific metrics and models for businesses and industries that are helpful to judge the customers engagement and allow the audience to guide to improve a brand’s social strategy.
Draw your social engagers and audience’s demographic picture
When you simply monitor about the people saying something about your brand, you’re left still wondering who actually your social audience is. Are the people asking or saying something about your brand and your followers the people you tried to reach considering them your targeted market? Identify your followers’ profession, age group, interests, and location. Integrate social data on the level you can get. It’ll capable you to build a unique and demographic profile with deeper and better understanding of your customers.
Serve better by reminding what your customers “Like”
Armed with the demographic information of your customers, you can find new ways to approach your customers. Moreover, you can identify and uncover possible opportunities of campaigns and partnerships. You can offer your customers discounts and rewards they’re interested in, as you already know about their interests by their demographic profile.
Analyze public sentiments while creating predictive models
Tools related to public sentiment analysis enable the brands to identify the changing trends considering public opinion. Sentiment analysis assists you meaningfully while creating your predictive models. It’s the hot topic in financial industry now days, as the results show that sentiment analysis is proving as a useful predictor of market trends and trading indicator.
Use social data to extend marketing and business intelligence
The next and effective step is to correlate the analysis and integration of social data with transactional data and traditional customers. It results in a powerful combination that assists companies to emerge their clients’ social behavior with the decisions they take, whether when they make a purchase or when fill a complaint.
When companies unify structured and unstructured enterprise social data together, they get a comprehensive view of their audience, clients, and business. So they can utilize this information to improve productivity, innovation, services, and ultimately, their business growth.