Showing posts with label social data. Show all posts
Showing posts with label social data. Show all posts

Monday, July 29, 2013

Wondering What Content Works Best For Your Brand? Try Sentiment Analysis

Content, they say is, king on social media. The content that you post reflects your brand and its attributes. But how do you know what type of content is best suited for your brand? And also, how do you know what type of content do your customers and social audience wants to receive from you?
Harnessing the power of Social Media Analysis tools and Sentiment Analysis are the best ways to find answers to these questions.



Social media analysis tools allow you to closely monitor the reactions to the content posted on your social channels. Similarly, Sentiment Analysis allows you to analyze those reactions and find out how well a particular type of content is being consumed. Therefore, use these tools to –

Study ‘Likes’ and ‘Favorite’:

Closely monitor your content on the social media and see what gets the most likes and favorites. Is it pictures, posts, blog posts, videos, presentations, info graphics, tweets or status updates? Also find out what qualities in the content did they like the most – witty, attention-grabbing, sober or to-the-point?

Now use Sentiment Analysis and find out what people had to say about the content they liked. Did they call it ‘awesome’ or ‘super like’ or did they say ‘thank you for sharing such a wonderful post’?
Likes and favourites are the first indicators that tell you what content is best for your brand. So leverage this to the maximum.

Monitor ‘Shares’ and ‘Retweets’:

People share something on the social only when they feel that that piece of information is useful to a larger community – their friends, customers, colleagues etc. The same goes with Retweets.

These are indicators that tell you what type of content people would like to receive from your brand so that they can share it with many more people. You can also find out whom among your audience shares and retweets your content the most. This way you also know who your top influencers are.

Which Content Works Best?

While plain text (statements, questions, quotes etc) work just fine, photos and videos are hugely shared. Info graphics are popular too. Make your posts valuable by adding links within it to other interesting articles (human-interesting stories, case studies) or combine it with pictures and videos.


So, once you know what content works well and what doesn't for your brand, go ahead and create lots of amazing, interesting content for your audience.

Tuesday, June 18, 2013

Public Data: What It Is and How Can Your Business Benefit From It


Public Data is any data on the vast online platform that is accessible by anyone. It is that data which is available to the public. In that sense, even social data qualifies as public data because it is available on the internet and is accessible to the public too. 

 
As businesses continue to create their online presence, they also create a lot of Public Data. Here is what comprises your Public Data on the social channels – 

  Face book posts
  • Tweets and Re tweets 
  •  Likes
  • Comments
  • Shares
  • People talking about your product/ page.
  • Favorites
  • Fans and followers
If this was about social channels, even your company blog and in fact your website itself are all sources of Public Data. The content on your website pages, external and internal links within the websites, blog content, blog comments and shares all constitute your Public Data.

Importance for Businesses

As Public Data is accessible and most importantly visible to anyone and everyone who visits your online pages, it acts as a public profile of your business. It tells your visitors and customers everything about you. In other words, your Public Data will give insightful information of your perspective to existing customers as well as to your competitors, about your business and how well or badly you are doing. 

Similarly, for you as a business house, Public Data is an essential and useful resource to learn all about your customers and competitors. If they can glean insights from your Public Data, so can you. Closely analyzing your customers’ likes and dislikes, product and brand affiliations, service requirements will open up a whole new world of opportunities for your business to explore and exploit for revenue building. 

In the same way, analyzing and understanding your competitors’ Public Data will provide you with actionable insights loaded with critical business intelligence on their product and service strategies, their marketing tactics and promotion techniques.

Public Data is here to stay and it is very important for business houses to make the most efficient and valuable use of it. In fact, I believe that the future of business will largely be defined by how business organisations use their Public Data. 

So, have you explored the benefits of your Public Data yet? If not, now is the time to do it.

Tuesday, February 26, 2013

Actionable Data – A Needle in the Social Data Haystack



I love numbers. And my search for the latest social media statistics led me to this post by Brain Honigman in the Huffintonpost.com. Thanks to his compilation, this is what I discovered:
  • 2012 US Elections witnessed a record breaking 31.7 million political tweets.
  • 75 million tweets are sent from Twitter in a day
  • Instagram users make 575 likes and 81 comments every second.
  •  Pinners on Pinterest spend 83.9 percent of their time Pinning, 15.5 percent liking and 0.6 percent leaving comments
  
Incessant Influx of Social Data & Information Deluge 

The above statistics are proof that data and information is flooding the social arena like never before. This poses a serious challenge for organizations and their brands. They are left marooned in this torrential data flood, not knowing how best to harness the gargantuan volume of data generated around their brand.

But social data is good. Brands and organizations need it. It is social data that facilitates social engagement, promotes brand building and assists revenue increase.

The Challenge

We all know that the problem lies not in the large volume of social data but the inability of most brands and organizations to filter the social data for useful, actionable data. There are three challenges here:
First – accurately identifying and understanding the social data surrounding our brands and products.

Second - Formulating an effective, ground-breaking approach to use the gathered data.

Third - finding equally reliable and feasible means or products to help you achieve the above.

Social media analysis (SMA) tools are one such product that is most appropriate and also readily available for the organizations. However, in order to effectively deal with and make the best use of social data, organizations must go beyond listening and engagement. While there is no denying that listening to our influencers and engaging with your customers are all pervasive to the success of our social media strategy, the most important thing that organizations need to do is to monitor and measure our brand’s social reputation.

Solution

Highly advanced SMA tools offering sophisticated features (Natural Language Processing capabilities, Sentiment Analysis, Predictive Analysis etc) are the latest buzz in town. Organizations that want to make the best use of their social data – analyze the available data, derive actionable insights and extract business intelligence out of it – must consider investing in a SMA tool.

How do SMA tools make this happen? What magic do they weave? Find out in the next post. 

Tuesday, February 12, 2013

Social Media Analytics Tools Helps Derive Actionable Insights from Big Data


If your organization is grappling with big data, unable to find necessary insights from it, then maybe it’s time to invest in a Social Media Analytics (SMA) tool.

We all know that today’s technology is changing the way organizations conduct their businesses. Thanks to social media channels, smart phones, mobile applications and increased access to the internet, customers today are using technology like never before. They use the internet to make purchases. They buy products based on recommendations from friends. They do not hesitate to “thumbs down” brands if they do not like it.

For businesses, this means that every day, their customers generate scores of data on the web. The retail giant, Walmart deals with more than a million transactional data every hour and imports it into data bases estimated to contain a whopping 2.5 petabytes of data (2.5 quadrillion bytes)! Surely, most, if not all, of this mammoth data trove contains rich insightful information; waiting to be harnessed into decisive actions.


We all know and understand the importance of big data and recognize the immense promise it holds for leveraging our business. But a recent Report by Neolane and Direct Marketing Association revealed that most organizations are still ill-equipped to handle big data. In my opinion, the one crucial thing, that organizations overlook when trying to handle big data is social data analytics.

Data analytics simplifies and analyzes customer insights gathered in the organization’s social data chest and also synthesizes detailed reports that provide key actionable insights to the organizations. Our product, 

Shout Analytics is an advanced social media monitoring and analyzing platform that is well equipped to handle the hassles of big data.

So you see, the key to a successful social media strategy lies in picking the right analytics tool. Sign up for a demo and see what Shout Analytics can do for your business.

How Is Social Media Changing Your Branding Strategy?



Social Media has taken Marketing to a new level. New-age thinkers swear by it, and the ones who ignore it would soon be history.  It has given the local market a gigantic platform and new mediums to reach out. We've arrived at a stage when social media presence decides a brand’s existence, something so unheard of just 5 years ago.

Social media has also changed the dynamics of branding. Instead of looking at this as a threat, one ought to see beyond the obvious to understand and appreciate the long term implications and benefits that Social Media would offer a brand.



As though to adapt to this revolution, Branding, which once focused on bringing forth the brand’s message to the end-users; is now concentrating and viewing it as a two-way process. This allows the consumers to communicate and increase the opportunity and thereby, to own it. Business Houses have accepted the fact that it is time to metamorphose from the age of “commercial yelling” to “commercial conversation”.


 The advent of Social Media has increased the interactions between the brand and the end users, and essentially changed the way Business Houses view their consumers. Although the fundamentals of brand building are untouched, the marketers have an added onus to the traditional “etching the brand in the minds of consumers”. Social media has forced the brands to think on additional parameters viz:


1)      How to build relationship to gain trust?
2)      How to bridge the emotional disconnect or gap, in order to stand out and gain a decisive identity?
3)      How to nurture loyal fans?

However, social media is not to be mistaken for brand overhaul. It merely provides a heightened platform to the brand to better acquaint the world of your thought, leadership, identity and product offerings. Hence, campaigns are being overhauled and strategies being revised to incorporate the social media facet to brand management.

Branding forms the backbone of any product and hence it’s vital to pay meticulous attention to strategy it. Branding, however, has changed ever since the advent of Social Media. We wouldn't be wrong, if we were to say “Social Media has compelled us to rethink -reinvent our strategies”. 

Monday, December 17, 2012

Social Media Measurement can Prove to be Nightmare if it Goes Wrong

 Author: Suraj Arukil 
About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)



Today social media is playing a very crucial role in the field of engaging customers for a better marketing strategy. In my previous posts I have talked about how social media proves to be useful for generating leads, increasing sales and better customer support. However, for delivering real business value to the social media, it needs to be accountable as well as measurable while trying to measure the ROI from the social media channels.
 
Shout Analytics
Image Source: http:digitalethos.org
In order to gain a positive impact on social media marketing, organizations need to think and invest carefully on the tools they rely upon for executing their strategies over social media channels. It is very important for organizations to understand whether their social media policies help in customer retention or not along with the growth in sales. Moreover, measuring social media in a meaningful way gives the organizations an upper hand reach to their customers in the competitive business environment.
 
If an organization proceeds with flawed social media marketing strategies and wrongly chosen tools to measure its performing insights, then, definitely it ends up with bearing loses.Customers are becoming socially intelligent on a day to day basis and looking for, conversing and sharing on different products and services offered by different organizations over social media channels. Hence the success of a social media strategy depends upon an effective way of measuring it.
 
What should be organizations looking for?
•If your social media strategy involves bringing in new leads, then it is very important for you to look for which social media channel is doing it most prominently.

•Finding out what type and kind of your social content is gaining more positive feedback from the customers is a very essential part of an organization’s social media strategy.

•It is important to figure out the most productive time frame when your social content gets more responses and sharing on a day or over a week. According to this time frame you can schedule your social media content postings.
 
Role of Social Media Analytics

Social Media Analytics helps organizations to develop a social media marketing strategy that can bring in leads and increase the brand fame amongst the customers. Moreover, Social media analytics can impact social media engagement of the customers by allowing organizations to monitor their social activities and filtering the relevant data out of the social big data.
For  more information about  Shout Analytics do visit http://www.shoutanalytics.com/

Monday, December 10, 2012

How to Increase Sales Through Social Media?

About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)


Image Source: http://webgreeter.com
Every existing and forthcoming business is cautious about increasing their sales as it is vital for their growth and makes them standout as successful in the competitive market. However, along with different ways of generating sales, social media has entered the market as a new way that can lend a helping hand to the traditional ways for the growth and increase of sales. Even though social media is not the ultimate solution for solving problems associated with increasing sales, it is indeed an effective way to boost sales if used in an intelligent way.

Building of Brand Credibility on Social Media and Influence on Sales  

Brand credibility is all about the perception of your customers on your products and services no matter how consistent your business is in terms of quality. All though traditional ways of building brand credibility are still powerful in influencing the customers, social media platforms are enhancing brand visibility in the meanwhile. Moreover, with the help of social media, businesses can figure out what their customers are saying about them. Hence, you can engage with your customers with a successful social media marketing strategy, which helps them to build a good perception about your brand and your sales are influenced by the decisions taken by them.

Your brand credibility on social media has its own importance when sales for your products and services are a matter of concern. Finding out the positive perceptions of your customers is very essential as it plays very important role in building your brand credibility and helps to impacts your sales. Moreover, targeting the right group of customers who are relying on your products and services or who are looking for it in the market is critical to your sales generation.

Let’s say the brand like Samsung is launching a new android mobile phone. In such a case, one of the best ways to judge the customer’s perceptions on the new launch is by keeping track of the feedback given by them or conversations happening over social media platforms. Henceforth, Samsung can strategically implement marketing strategies once it filters out the target group of customers and their perceptions that favors the sales of its new product. 

Social media complements conventional marketing for Accelerating Sales

Staying in touch with the customers is a mandatory aspect for growth in sales of any brand or business. However, traditional marketing ways often prove to be obsolete in the current business environment as today’s customers have grown smarter with their prompt social media presence. Along with traditional marketing, social media is a catalyst to the conventional ways.

To be a successful in sales, you need to always have presence on most social networks and complete LinkedIn profiles.
Establish your relationships on social media and use social search and get news alerts with the help of advanced tools.
Send messages to unresponsive clients through LinkedIn , make video presentations, make your presence felt by generating new prospects of Google and YouTube searches and start blogging. 

Asserting to the fact that social media analytics prove to be very essential for businesses aiming to increase their sales with the help of social media, Shout Analytics is a frontline social media analytic tool which helps organizations to use the power of social media for generating sales. With the help of Shout Analytics organizations can effectively monitor what customers are talking about their brand and can effectively come ahead with a full proof social media marketing strategy.

To know more about Shout Analytics contact us at info@shoutanalytics.com

Friday, December 7, 2012

Social Media Analytics: An Unique Solution To Filter Noise From Social Data

 Author: Suraj Arukil 
 About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)


In my earlier posts I tried to explain how social media analytics helps you to carefully listen to the conversations surrounding your brand’s activities and carry out an appropriate analysis. Additionally, I also discussed how can you find and engage with prospective customers. However, tracking social media platforms allows organizations to improve their brand value followed by the resourceful insights with the help of social media monitoring.
 
Consumers take decisions based on the nature of the conversations happening over a specific brand’s products and services. These mass conversations even portray wide variety of responses which could be either positive or negative and even are neutral at various occasions. Fortunately, social media is one such platform in the current market where organizations can hang out to look for their sought out answers on their brand’s performance. 
 
As of today, people are promptly responding to and sharing their views about every new and existing trends, products and services over social media. Thus, social media plays a vital role which is more than just being a mere platform of conversation and networking to a platform where organizations can receive valuable insights about the consumer responses.
 
Importance of Filtering Noise
Let me consider an example of Microsoft Corporation launching the Windows 8 Operating system in order to receive a better understanding on this subject. Before launching the new Windows 8 operating system in the market, Microsoft Corporation released the beta version of it. The main purpose behind this step was to incorporate the received customer feedback for an improved customization of its complete version. 

In such a significant juncture of business oriented steps, even an established organization like Microsoft Corporation would look out for a solution where it can get all the relevant scores of the consumer responses. However technically at this stage social media analytics stands out as the best option for being a solution in such an instance for different organizations.
 
Role of Social Media Analytics
Now the real question is, how one can separate the relevant and useful information out of the voluminous amount of social big data shared over social media? This is the scenario where social media analytics come into the picture for helping organizations and individuals compute the relevancy scores. In an instance like the Launch of the trial version of Windows 8 by Microsoft Corporation, people will be conversing over this version in the form of likes, sharing and commenting. 

At this instance social media analytics separate these relevant conversations on the brand from the extensively voluminous traffic of various conversations over numerous arrays of social media platforms. 
 
Shout Analytics is a unique patent pending solution that assists organizations to understand and engage with audience over social media. It provides resourceful insights like demographic data, social mentions, trends, etc. These insights help organizations to figure out the market responses.
 
To know more about Shout Analytics, write to us at info@shoutanalytics.com

Tuesday, December 4, 2012

Are You Struggling To Identify Your Prospective Customers? Explore Social Media as an Option

 Author: Suraj Arukil 
About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)


The current business environment is changing and for every business organization the most important and critical job is to identify their prospective customers.  Moreover the ever evolving and dynamic business environment has made the job such difficult that any organization would face problems in implementing the marketing strategies while identifying their potential customers.

I would say the basic reason behind the struggle of organizations  in defining  their prospective customers is their inability to filter them out from a large base of the target audience.  However the real question is out of the whole large scale of a target audience who really stand out as the prospective customers.

The prospective customers are the particular section of the market to which the brand successfully reaches out with reduced marketing efforts, less degree of engagement and less sales cycle conversation.  Moreover less engagement efforts that trigger relevant conversation with the target audience gives a brand, an edge in the competitive market of products and services. However with the help of social media you can identify and engage your customers and increase the level of your brand building initiatives.

Ways to Find Your Prospective Customers

•Your awareness matters a lot when you are looking for your prospective customers. Concentrate more on the social media platforms like Facebook where your prospective customers spend most of their online time. 
 
•As watching videos online for longer times is increasing every year, this provides the marketer a chance to engage the prospective customers by producing entertainment and brand educational videos.
 
•Mobile optimized website activity is going to significantly change the ways by which the smart marketers engage their customers.

I always emphasize that social media is all about conversation rather than just being a medium of broadcast. Moreover by analyzing the social data of your prospective customers you can figure out their requirements as per the provisions of your products and services. However organizations which can successfully implement a marketing strategy based on the social media data of the target audience and engage them accordingly are socially intelligent.

Social media analytics come into the picture when brands strategize to target a section of audience on the social media platform. Moreover social media analytics provide resourceful insights into the existing customer’s levels of brand satisfaction as well as filter out the demographics of the prospective customers. With the help of social media analytics an organization can effectively predict the actions and behavior of existing and prospective customers and evolve with a marketing strategy accordingly.

Nuvento Systems Private Limited has developed a unique social media analytics platform “Shout Analytics” that can prove helpful to the organizations to be successful with their brand building initiatives. Shout Analytics gathers relevant and useful information with its specific analysis modules like predictive and sentimental analysis, which allows the organization to monitor the customer sentiments and understand their brand perception.

To know more about Shout Analytics, write to us at info@shoutanalytics.com


Monday, November 12, 2012

Business Benefits of Brand Building On Social Media

 Author: Suraj Arukil 
 About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)

Image Resource: bellwetherfoodgroup.com
In the last blog I discussed about what is brand building, why its necessary and how it has evolved with time. Now we will discuss about what an organisation can expect out of brand building initiatives.

1.Constructs An Identity: Branding ones products and services creates a unique business identity. A distinctive brand name, tagline and jingle will separates you from your competitors and establish inimitable qualities, values and features that your organization stands for.

2.Guides Consumer Choice: Clear distinctions help your audience to single you out and choose over others to satisfy their needs. You become their preferred choice who they trust and rely on.

3.Garners Loyalty and Credibility: Once a consumer has picked you and is satisfied with your brand, he is likely to choose you the next time and most likely, every other time in future. And I think a credible brand – one that behaves and does what it claims to do – is always well appreciated and accepted quickly by quality-seeking customers.

4.Propels Organizational Growth and Equity: A well-recognized and successful brand accommodates easy market entry for your organization’s other related products/ services. And the best part according to me is that it increases your equity when you are considering a merger or acquisition.

I mentioned in the last post how organizations are exploring new avenues, especially social media for building their brands. The statistics say the same story as 50 percent of small business owners report that they gained their customers via social networks, the most popular ones being LinkedIn, Twitter and Facebook1. Isn’t that amazing?

I truly believe that social networking sites are the new tools of brand building. Here are some of the advantages of using social media for branding –

1. Offers Multiple Engagement Windows: You can engage actively with audiences by generating and sharing quality content on different social pages as it creates a wider reach and strengthens the brand. This, I believe is one of the best way to increase ROI.

2. Promotes Loyalty: Effective branding on social sites builds a valuable customer base. Customer recommendations will not only promote brand loyalty but also influence purchase decisions.

3. Increases Traffic: Social networking pages are extremely helpful in driving traffic to your website and increase your ROI.

So you see, as Blair Entenmann, President of Marketing Help! puts it, social branding is an investment in your business that will continue to pay back on itself as your company grows and expands. However, organizations should note that brands can be successfully built on social networks only through exceptional customer service and effective customer engagement on a continual basis. Branding on social media should be crafted in the manner that it is aimed at serving the customers first and selling products later.

Tuesday, October 30, 2012

Listen To, Engage With And Monitor Your Customers


 Author: Suraj Arukil 
 About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)
It’s raining social media everywhere. I read somewhere today that LinkedIn has surpassed Twitter in social media channel of choice among B2B marketers for content distribution." I believe, even our buying decisions are influenced by it! The social comments from our friends and like-minded individuals are a source of reliable information that we refer to before buying something.

Statistics indicate –

•90% of consumers trust peer recommendations whereas only 14% trust advertisements.1

I see three key takeaways for businesses from this growing customer trend:

1) Listen

Listening, according to me is the most vital part that helps you in understanding your customer. You can extend your market reach, fight competition and improve your business if you get more active with your social data. Just pay attention to your customers’ conversations.

For example, an insurance company can leverage social media to obtain a lot of cues about the customer needs and wants. The audiences have started using social media as an open channel to propose their opinions, the companies should pay attention to the complaints or the pain points the customers have been dealing with, or make note of the testimony that you received from the happy customer, and try to build it up as the best practice for your business as one happy customer can multiply your reach to many.

2) Engage

Image Source:phaseware.com
 I would consider this the best method to strengthen and build  customer relationships. Foster your social alliances by engaging with your customers in an interesting and fun way.  For this, we have to constantly create new avenues for customer participation on your social sites.

Taking forward the example of insurance companies, in order to engage their customers the insurance companies can provide useful and meaningful information such as family safety, retirement facts and other general topics that people care about. This engagement propels the customer to develop a feel good factor about the organisation and builds strong customer relationships.

3) Monitor
Don’t just limit your conversations to answering product queries or saying thank you to a positive comment. Instead, try to decipher the attitudes, sentiments and feelings conveyed in the conversations.

Understanding and knowing your customers’ needs and opinions helps you to serve them better by giving them the exact products and services of their choice.  Plus, good customer service is always appreciated and often recommended to friends and family.

In summary, I think actively listening, engaging with and monitoring your customers (and also your competitors’ customers) empowers you to gain a competitive advantage, learn from your customers, enhance your products and services, better target marketing efforts and market innovation, improve your ROI and leverage your business. 

Shout Analytics is one such new-age social media analytics product that enables organizations to use the power of social media to effectively understand, monitor and engage with its customers. To learn how Shout Analytics can improve your business profitability, contact us at info@shoutanalytics.com

Thursday, October 25, 2012

Get Real Actionable Insights From Real-Time Social Data

 Author: Suraj Arukil 
 About the Author: CEO/Founder of Nuvento ( a technology firm that specializes in Business Intelligence and Software Architecture.)




I often come across many business enterprises that have accepted and adopted social media as a vital tool to achieve organizational success. However, with the ever-growing social data (1.3 billion active users on social networks and 3.2 billion posts and comments posted on Facebook on an average every day1) I think most organizations are still grappling with the influx of social data.
 
Image Source: http://bit.ly/RXNZVS
To me, the challenge here is – making good use of the extracted data. Simply monitoring the social media will only give an organization an overview of its social reputation. So, how can you get real actionable insights from real-time social data?
 
Here’s my four-step process to achieve this –
1) Understand The Buzz Around Your Brand
You shouldn’t just track the number of likes or shares that your brand received on your social pages, but understand who liked your brand and why. Analyzing the words used to refer to your brand and drawing inferences from it will help you know what qualities and values your brand stands for in the social sphere and based on this data, take actions to enhance your brand’s personality.
 
2) Measure How Effective Your Content Is
Use your social data to understand how well your brand content – ad copy in advertising, taglines, jingles, TV videos, website content, blogs or even the brand ambassador’s look – was engaging enough for your customers or not. Turkey’s Akbank did just that. When it realized the need to explain the banking processes in simple terms, it introduced social games to make banking a fun experience for their prospects. Now, that’s what I call developing tailor-made content to suit the needs of your audience.
 
3) Make Improvisations And Innovations To Products
Since, social conversations are full of purchase suggestions, product feedback and recommendations(Facebook is the most popular site to share online purchases - 55%, followed by Twitter -22%, Pinterest -14%), I think organizations must pay more attention to those social data that talk about your and your competitor’s products or servicesand understand the customers’ experiences while using your products. Then, usethese insights to make upgradations and improvements to your product and services according to the expectations of your customers.
 
4) Recognize What Your Customer Wants
I don’t think customers’ social data is not limited to demographics alone. It provides insights on customers’ brand affinity, buying habits and spending trends. Also, social data indicates individuals’ needs and intents. So, using intent analysis tools, businesses can identify new target audience, reach out to them and convert them into new customers.
 
For example, ICICI Bank, India is offering basic services like account balances, transaction history, cheque book enquiries etc from its Facebook applications3 for their large number of their internet savvy customers.
 
In my opinion, business enterprises can successfully leverage and optimize all areas of their operations using the above four methods of social data usage. Our product, Shout Analytics is a high-caliber social media analysis tool that with some of its cutting edge features like sentiment analysis, I Intent analysis, and competitor analysis enables organizations to use the power of social media to understand, monitor and engage with its customers. To know more about Shout Analytics, write to us at info@shoutanalytics.com