Partner Article

How traders can mine social media data

To some, Twitter, Facebook and other social media sites are simply forms of staying connected with friends, family, and the latest news stories. However, a group of tech-savvy entrepreneurs is emerging that see the vast potential in the data generated by social media. And the opportunities appear vast. From marketing companies to discount websites, entrepreneurs are mining the intelligence created by social media to deliver a superior service, although not all markets are embracing it.

Certain parts of the financial services sector still hold the archaic view that social media just isn’t for them. However, a number of firms are opening the industry’s eyes to the value that it can provide.

DCM Capital is one of these firms. It has developed a trading platform that capitalises on the relationship between the price of instruments traded on the financial markets and the mood on social media. The correlation was originally proven through research conducted at Indiana University. DCM Capital has put this theory into practise and, by analysing the mood on twitter, is able to provide an additional layer of trading intelligence to the retail investment community.

Innovation of this kind is a story in itself. However, careful thought is required to give this ingenuity the exposure it deserves. This involves a communications campaign that not only creates significant buzz around the product, but also highlights the impact of such a ground-breaking idea on the wider industry. Strategy, creativity and market expertise are all essential; as is the ability to identify key influencers.

Originality will always spark discussion. And people will always criticise new ideas. Preparation is essential. Ensuring key arguments are carefully crafted and spokespeople are equipped with the necessary facts and supporting data will ensure that they have the confidence to stand up to the opposition.

Building a recognisable brand is an ongoing process. However, there are steps that can be taken to firmly plant you and your ideas on the map. By keeping communications to the point, engaging and consistent, your relationship with the market will blossom. And as your brand recognition increases, so will your sales figures and business performance.

This was posted in Bdaily's Members' News section by Aspectus Public Relations .