How to Make Social Media Data Work for Your Business
As marketers can attest, data is everything. Data is synonymous with answers. Data provides evidence, objectivity, and otherwise hidden insight into the inner workings of a business and the effectiveness of a marketing strategy. Marketers are entrenched in data, but through the morass of data collection lies a source that might be underutilized.
Social media data is much more than counting follows, likes, and retweets. Social media data holds the key to unlocking valuable insights about a business market’s interests, inclinations, and irritations. In this post, we’ll take a look at how marketers can make social media data work for their e-commerce efforts or brand’s organization.
Understanding Social Media Data
First, let’s start with the basics, including a simple definition. Social media data is aggregate information from all of an organization’s social networks. It shows statistics on how followers view, share, or engage with the available content, providing insight into the effectiveness of a social media strategy. Interactions recorded include:
- Number of followers
- Direct messages
- Keyword analysis
What valuable insights can this information provide to B2C marketers?
Tapping in to Conversations About Your Market
More than 33% of all consumers use their social media channels as a means to perform product research. Unfortunately, many of these conversations are occurring without the awareness of the brands in question.
Twitter offers a Dashboard feature for businesses that allows marketers to track certain keywords pertinent to a specific business. By utilizing social media data and monitoring a business’ channels, teams can gain insight into these conversations and learn the thoughts and feelings of
the target market. This creates the opportunity to step in and join the conversation, adding true and relevant value. This translates into thought leadership and enhances brand awareness and reputation.
Brands that respond promptly and accordingly are more revered by consumers who as a result feel that they are treated with respect.
Take, for example, Zappos. This tweet sequence from Zappos showcases the importance of monitoring social media data. The original tweet did not mention Zappos, but a representative responded promptly and positively to impact the consumer-to-business relationship.
Find content inspiration
The vast availability of social media data for B2C e-commerce marketers provides teams with limitless access to content generated by consumers, coming directly from the mouth of a target market. The magnitude of possibilities in knowing exactly what consumers are talking about and what they want to know is boundless.
Understanding these topics can catapult into a laundry list of content ideas that are hyper-relevant to consumers. Through the use of social media data monitoring services/platforms, businesses can keep tabs on their competition. This allows business’ to learn from both their own and their competitors’ successes and failures and refine their own strategies accordingly.
Boosting Competitive Advantage
As previously stated, social media data monitoring tools allow organizations to inspect their competitors’ strategies. In the grand scheme of things, an organization’s audience may also be part of another organization’s audience. Marketers can use competitors’ data as a reference source at a high level.
The more a marketer can understand about a brand’s collective audience and their preferences, the more they can boost their competitive advantage. Marketers should strive to tailor content generation and social media messaging to this audience and their needs. They can use social media data to heighten the overall customer experience.
The need to create hyper-personalized and full-on brand experiences has never been greater. Social media data analysis can provide marketers with the insight required to further develop that experience.
Social media data helps B2C marketers gain insight into the minds of their audience. This unlocks limitless potential in campaign creation, content generation and the business-to-consumer relationship potential. Social media is the winning marketing channel right now, and social media data helps marketers turn social media into a winning channel for their business.