With the advent of the digital era, there has been an increase in the volume of data available for marketers, to plan their marketing strategies.
Consumers are increasingly using gadgets to keep track of daily activities and also social media to express liking or dislikes. This has given access to a whole lot of insights into the consumer behavior.
According to McKinsey research, brands that have used customer analytics have seen a 126% profit improvement over their competitors.
Companies that use big data have been able to preciously identify their audience, identify their liking, create better advertising campaigns and create better content.
Big data is a boon for business when it is harnessed effectively. But it is important to understand the ways in which you can use the big data for your organization.
Here are 5 Ways to Use Big Data to Improve Your Social Media Marketing
Boost Personalization Strategy using Big Data
Personalization is the name of the game in social media marketing.
Big data offers data regarding personality insights of your consumers. With the demographic information and social media data, it will give marketers a holistic understanding of your audience. When you have customer data you will be able to understand your customers better, thereby allowing you to personalize interaction and improve conversion.
“Big Data will spell the death of customer segmentation and force the marketer to understand each customer as an individual within 18 months or risk being left in the dust.” says Ginni Rometty, President and CEO, IBM
Social media marketing tools such as Cloohawk will give you insights into your audience behavior. Cloohawk offers a feature ‘Follow these people’ which identifies influencers and leads in your areas of interest and prompts you to follow them. Set up customer rules to identify the right people to build relationships with influencers and like-minded community which in turn is a powerful way to generate leads.
Monitor and Measure Customer Sentiment
Companies are using social media marketing as one of their most important marketing tools. But it is important to understand the customer sentiment to tap into the social media. When you understand the most important aspect of your business, that is your customers, only then will you be able to serve them the best.
Sentiment analysis is a method of studying your customers using linguistic tones, content, their likes, hashtags, shares, etc. to analyze the emotion conveyed.
Sentiment analysis has opened new avenues through which businesses can analyze consumer activities and make data driven decisions.
Social media management tools such as Social Mention allows tracking of mentions for pre-defined keywords and hash tags and can also indicate if mentions are positive, negative, or neutral.
Use Big Data to Power Your Social Media Campaigns/Promotions
When big data and social media is combined together, it can create successful campaigns. By using big data, brands can analyze consumer activity thereby allowing it to create highly targeted advertisement campaigns.
Big data offers deep insights into a consumer’s demographics such as location, age, gender, interests, and profession, in addition to their shopping habits and preferences. Brands can use this data to create targeted social media campaigns to attract more customers.
For example Dacia, a subsidiary of Renault, used data from Facebook to place advertisements for their cars based on their customer journey.
Antoine Hery, Digital Communications Manager, Renault says, “Facebook’s always-on lead generation program generates a significant proportion of our test drive leads”
Social Media campaign tools such as Shortstack, provides quick and easy methods to set up campaigns. It assists in building engaging campaigns such as sweepstakes or voting contests by use of templates and drag-and-drop functions.
Use Big Data to Drive Content Creation
Content creation is no doubt a big part of your overall social media marketing strategy. The content that you are planning to create should be created with your audience in mind. This is a stage where you define the Who, Where, What, Why, When, and How of your content marketing.
Here the big data comes into use. Big data helps a company to understand its target audience and their interests, based on which they can shape content that connects to their interests, socioeconomic profile, and other factors.
Social media management tools can offer suggestions and ideas for content based on your audience interests.
ContentStudio is a social media marketing suite which helps you to discover content from various websites, and social media platforms such as Twitter, Facebook and YouTube. You can also get the trending news and popular social media quotes to share with your audience.
Big Data To Outperform Competition
Big data is changing the nature of competition. Big Data is particularly useful when you need data to outperform your peers. Across industries, your current competitors and new entrants are likely to design strategies after analyzing the data in order to compete and to innovate.
With the help of big data, organizations analyze industry data to identify new growth opportunities. It is important to note that big data is offering companies important insights into consumer behavior leading to better products and services for consumers which ultimately leads to better returns on investment.
If you are not using this kind of big data, then clearly you are at disadvantage.
When you are not relying on big data, it’s an opportunity lost and might even mean that your competitors race ahead in the competition.
The good news is that there are a ton of competitor analysis tools to help you efficiently assess how you stand up against your competitors.
Tools such as Social Blade come handy when you want to collect data about your competitors. The tool will give you complete details of a competing brand messaging, the frequency of their content publishing, posts that are doing well, unhappy customers of your competition etc. With the features offered by these tools, you can effortlessly compare your own growth with your competition.
With the big data becoming more influential, every business, whether big or small, wants to revolutionize its marketing efforts. Combined with social media, big data is able to help brands and marketers to convert the data into actionable insights. Big data is going to make social media marketing as one of the top marketing techniques. Irrespective of the kind of marketing strategies employed by brands, big data is surely going to play a crucial role