Social Media Marketing and Data Mining

Feb 27th 2011 at 12:51 PM

One of the advantages of social media for marketers is that searching the information that is available can aid Marketing efforts by supplying current patterns of purchasing and making decisions about buying behavior. An example of this would be a Social Media Company that sells Alternate Energy Solar Panels. They would be able to introduce their products to consumers that have a history of purchasing Alternative Energy Devices. Data Mining , as this activity is called, can help with predicting which products a tribe may be interested in. With a little bit of luck marketers can surprise their customers and make the customer happy.

One problem with this is that personal privacy is at risk. With the Internet being so cheap and easy to access, privacy concerns have increased . Some tribes won't shop on the internet because of this. They are afraid of someone getting a hold of information in an unethical way and using that information against them.

This is the reason I think that Social Media Artists are constantly being ushered to the PR agency's. Even as social media is rapidly evolving in the Corporate arena, it is still thought of as another form of :push: marketing. Social Media Marketing, as we all know, is more influential marketing that push marketing.

The marketers job is to try and establish a relationship with current and prospective customers , and Social media is the way to do it. Reviewing the data we have is a way for the customer to voice his opinion about what he wants by using the social networks.

There is so much customer data available from the online tribes that is so very dense with information that if you were a Merchant, you would know all about your customers needs and concerns. You also have the information to give that customer what he wants in the future. And you are getting the information on a continuing and consistent basis.

Now all of that data has to be changed into useful information. This is because social media data is different from the transactional data that most systems use. Therefore, it is stored in different formats. Fortunately , it can be converted  by using another technology.

This process is a way of managing important business data on an ongoing schedule, maintaining the status quo and creating the records needed. This way the data is validated . So we know it is correct, consistent and complete. This format has been used for 11 or more years. Its a great format for integrating disparate databases for a more complete view of their tribes. It is equally effective in integrating social media data into existing CRM systems, and filtering that data for relevance.

For instance, we now can achieve important process furtherance with improvements in the bottom-line significance. This means that it is possible to obtain behavioral data that will allow them to more appropriately target tribes for better social marketing optimization. Building that one to one relationship with tribes is going to be easier because of the availability of information on personal data and interests. This will enable targeting to the next level.

Usually the process of finding clients on social sites is a slow, arduous process, for most companies. It's time intensive and expensive too. On some platforms, a business can obtain the information of anyone who clicks their like button, for instance. With the right activity, game or article, a company can get a lot of likes.

Because of the availability of this new technology, the process is more encompassing and is a lot quicker. For instance, there is a matching technology that can take a name and check to see which john smith it is. It will also allow a company to identify a tribe on the basis of one or two pieces of information.

I could talk about this for quite a while as there is so much to digest. But time and space limit me. So, I will close with a question. How are you using Data Mining Technology to help your business be more successful?

I would love to be able to get some answers to this.

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