How social analytics translates to every department
For enterprise brands that want to dominate their industry, a powerful social analytics strategy is quickly becoming a must-have. When leveraging social data, companies have direct access to a variety of insights, including, brand mentions, consumer complaints, and campaign tracking. Representing the largest source of unsolicited public opinion, social insights can change each department’s outcomes and greatly improve the success of the business overall.
How can social data help your enterprise? Let’s examine 6 use cases in which social listening can improve departments throughout your organization:
Brand and Product Health: To start, one of the easiest ways to utilize social data is to monitor what consumers are saying about your brand, products and services, and how that conversation has changed over time. To uncover more about the health of your brand, historical data is useful for corporate communication and marketing departments when measuring where your brand is now, compared to where it was five years ago. Sales and marketing teams can take a brand baseline and compare it to current stats to figure out what areas they’ve been successful in, and where they could improve
Shifts in Market Landscape: With social, enterprise brands can gather stronger insights about behavior changes within the industry. Markets are always shifting in size, demographics, and consumer expectations. By monitoring behavior trends and audience interests in regard to, say, shopping behavior, business development teams and digital strategists can capitalize on new opportunities instead of trying to play catch up with customers.
Competitive Intelligence: When prioritizing social strategies, brands can make use of social intelligence to monitor the competition across social channels. When tracking others, research and development teams can look for answers to questions such as: what makes our competitors’ customers happy with their product? Or, how have they successfully attracted a wider network with similar products? Competitive intelligence is useful for finding gaps in an existing business plan, and can strengthen strategic decisions for the future.
Here we can see that throughout 2015, in comparison with H&R Block, TurboTax dominated the conversation on social. When figuring out why one brand was more successful than other, researchers can dive into peak conversation points to figure out why consumers were discussing TurboTax more than other industry competitors.
Crisis Management: With a comprehensive social strategy in place, brands have access to customer reactions in real-time. Therefore, with social data, corporate communication and support teams can contain any crisis before the damage becomes widespread, thus strengthening their customer care initiatives and brand loyalty.
By comparing their sentiment evolving post-crisis to the brand baseline previous to the crisis, DiGiorno was able to see how long it would take for their brand to reach their brand baseline again over social channels.
Through data analysis, DiGiorno was able see that their public apology was a success among consumers. Customers reacted positively across social, and the brand’s negative sentiment decreased to an even lower percentage than before the scandal had occurred.
Campaign Success and Brand Reaction: Using social to dive deeper into purchase lifecycles, advertising and marketing teams can not only measure the success of a campaign, but additionally, teams can strengthen their understanding behind consumer intent to buy. Throughout the lifecycle, these departments can find answers to questions such as, how did early advertisements affect the purchase intent of our product? Is this type of behavior something we should invest in again?
New Market Opportunities: Not only can social data to monitor the qualitative and quantitative aftermath of a campaign with real-time data, additionally, research developers can uncover untapped market opportunities to further expand their brand’s direction. By keeping an eye on purchase trends, consumer interests, and top influencers, powerful insights can be found by tracking any shifts in behavior. In exploring new spaces, business suits can leverage social data to find fresh digital marketing opportunities. In doing so, these professionals will be able to redirect brand strategy, and drive home campaigns with effective media placement.
Here we can see that Clorox’s audience members hold strong interests in Basketball, ESPN, and Football.
Additionally, when comparing The Voice to American Idol, we can see that the while The Voice seems to have more of a mainstream audience, with strong enthusiasm for Entertainment News, Actors, Fashion and Paparazzi, inversely, American Idol’s interests align with Clorox’s.
For the future, new market opportunities for Clorox could benefit from media placements with American Idol, because the two share brands share similar interests. Eventually, the correct media planning can lead to an increase in sales.
Armed with real-time, and historical social data, businesses are now able to pinpoint, predict and respond to consumer trends faster than ever. Such shared intelligence can help organizations make smarter brand decisions moving forward, and in the now. When democratizing social intelligence, all teams can work to strengthen individual department focus, as well as begin to blend corporate goals across the enterprise.
How can your department benefit from social intelligence? Schedule a demo to find out.