Rapid technological advancement in the field of telecommunication has revolutionized a manner in which people communicate with each other. In addition to facilitating oral conversations between remote users, devices such as mobile phones and personal computers are increasingly being equipped with features enabling uninterrupted access to the Internet (or the World Wide Web). An individual may access web-based applications like electronic mail (email) and online chat on the go for initiating text-based communication. Additionally, an individual may also connect with a group of individuals on social networking websites, such as Facebook™ or Twitter™, and may post a comment or tweet a message for group consumption. With increasing usage of text-based communication on such devices, conversational language between users of such devices is also constantly evolving with new words, jargons and/or slangs increasingly being added to conversations on a daily basis. Keeping abreast of latest additions to the conversational language is difficult for users without adequate sharing mechanisms in place. Further, conventional text entry means are rendered outdated and inconvenient to use on account of the constantly evolving conversational language.