Social media can provide a treasure trove of insights for brands looking to understand consumers. Social media data holds immense potential for marketers. But to make the most of it, you need powerful analysis and insights from text analytics.
There is an ever-growing amount of social media posts flooding into our feeds every day, along with the rise in popularity regarding image-based platforms like Instagram or Facebook. There have never been more reasons than now why companies should invest time and money into analyzing what people say about them online. People comment both positively (like customer reviews) but also negatively through comments sections under articles.
What Is Text Mining?
Text mining (or text analytics) is the process of deriving information from text sources. Text analysis can be applied to any type, size, and complexity of datasets–from social media posts on Facebook or forum discussions over in Yahoo Answers. It can be applied to surveys submitted by participants through online forms as well as transcripts recording phone calls between customer service representatives and clients.
For years, computers have struggled to understand natural human language due to its subjectivity and quirks. But with new technology comes progress–text analytics are now more accurate than ever before.
While humans are still better at understanding language, the vast amount of text data makes automated analysis solutions particularly useful for processing large volumes.
Text Mining In Social Media Examples
Social media data can be a gold mine for businesses looking to gain insight into their customers and potential clients. Text analysis is one way this information gets translated from text messages or posts on platforms like Facebook or Twitter. Text mining is done to answer all kinds of questions about consumers as well as brands themselves. It answers such questions as what products they prefer, how often certain topics come up during conversations, where people live based on where friends go.
Sentiment And Emotion
Understanding the general sentiment or specific emotions expressed about a brand, product, or topic can help you better cater your business message to customers.
Measure Share Of Voice
Text analysis is a way to get a representation of what people are really talking about. You can see what percentage of a conversation is about a certain product or brand. You could use this information for your marketing campaign or even just as simple research.
Identify Key Words, Topics, And Phrases
Text analytics can drill down into any conversation to understand what is driving it and how the content of that specific discussion has changed over time. With this information, your success rate at getting results from marketing will increase dramatically.
Quantify Intent To Purchase
The intent to purchase is a very important stage in the process of becoming an actual consumer. It happens when someone first becomes interested enough with your brand, products, or services that they are thinking about buying them and might even act on those thoughts.
Text mining social media is a valuable practice for any data-driven business. It provides businesses an ability to be aware of how their products or services are appreciated by the consumers. This practice lets companies know how to improve or limit their offerings.