Have you ever wondered how Facebook knows what brand of beauty products or what style of footwear you are looking for? Or why your favorite food app has launched promotions and special discounts for your go-to meal? Take another case in point, live song streaming apps suggesting songs based on your moods—all these are the marvels of intelligent social media data mining insights and analytics!

With social media permeating everyday lives, a massive amount of data is generated at a significant pace. Platforms such as Facebook, Instagram, Flickr, Reddit, etc., utilize this data to create a snapshot of the user behavior and interests, thereby ushering businesses into the dawn of social media data mining.

In social media data mining, information from different platforms is collected and analyzed to identify trends and patterns. Social media data is how people interact with your profile—which is measured in terms of likes, shares, comments, impressions, mentions, hashtags, followers, follower loss, and more. It helps marketers project how their product/service will be perceived in the market.

Growth-focused business players use social media data mining insights and analytics to expand their paradigms. They can easily strive through the cutthroat competition and ace their peers. This intelligence can be applied to varied fields such as:

• · Sales Enablement

Apart from collecting information on proprietary products, companies can also gather social intelligence about prospects and/or partners’ offerings, helping them leverage it in a sales pitch. For example, a computer hardware manufacturer may examine the complaints and grievances surfacing around PC manufacturer’s goods, in a bid to improve brand sentiment.

• · Predictive Analytics

Social media data mining when coupled with new-age technologies such as AI and ML enables companies to anticipate future trends. The professional data miners leverage sophisticated algorithms and machine learning techniques to help management with predictive modeling strategies; thereby providing an edge in the industry.

• · Influencer Marketing

One of the greatest advantages of social media data mining is influencer marketing. The data miners can identify influencers—social media users with strong follower bases and engagement rates. Businesses can easily get the attention of viewers to their products and services via influencer marketing. He/She can be a celebrity, a high-profile company executive, an external product reviewer, or a blogger who can drive clicks through a previously untapped sales channel.

• · Targeted Advertising

Targeted advertising on varying social media platforms enables stakeholders to map out better ways of identifying and addressing specific audiences. Digital marketers can easily determine messages (tone, voice) that are effective among certain demographic groups. Not only this, but they can also specify the best time of day to run a particular ad campaign on a particular platform.

• · Market Research

Effective social media data enrichment helps in finding customer preferences, tastes, and biases. For instance, a company can use this intelligence to study the demographic characteristics of emerging client groups. They can determine public sentiment toward a certain logo or brand—for that matter, even a politician or religious group. Organizations can also use social media data to gather information about potential partners, competitors, or specific geographies.

Takeaway

Social media data mining helps businesses determine KPIs on different platforms. Stakeholders can act on those KPIs to enhance their customer services/offerings, maximize productivity, and gain incremental ROI. Using different insights and analytics tools, they uncover various important aspects of their customer journey and expand the paradigms.