In today’s competitive and fast-moving business world, every focus must be on the customer: it is not enough to just reach out to a general audience. Shoppers are constantly bombarded with information from brands that fight for their attention and their dollars. The bar has been set, and audiences expect a high level of personalized connection to their brand. It is more important than ever for brands to understand the interests and passions of the consumers they wish to target or retain. In doing so, they will be able to craft a strategy that will win them a favorable place in the consumer’s mind and distinguish them from the competition. Thankfully, the resources of information about consumers have also evolved: social media is now an important piece of most marketing efforts.
Social media has the capacity (and now, the proof) that it can change the way in which companies target consumers, moving away from traditional marketing sources towards in-depth data knowledge about customer interests and passions. Once a company signs on to sophisticated social media listening and analytics, they are opening a door to a sea of insights and more effective market targeting. The benefits that come with this are plenty: building marketing effectiveness, as well as improved messaging, content creation, personalization, and real-time efforts. All these benefits translate into a better experience for consumers, increased customer retention, and higher sales.
Let’s take a deeper dive into the ways in which social media analytics can help with market positioning to consumers:
- Improved marketing and targeting effectiveness: accurately shaping your marketing efforts around your customers’ interests increases potential campaign ROI.
- Improved messaging: market positioning is the strongest way for your customers to perceive your offerings in relation to those of your competitors. Your messaging plays a large role here, as it gives consumers a clear idea of the distinctive value that your company and products can offer them. Each company has the task of determining the way they want to be perceived and more importantly, by whom. Once you know who your target customers are, social media is the perfect tool to discover how that group defines value. From that point forward, you can craft your marketing messages to fortify that value.
- Improved content creation: by better understanding what grabs consumers’ attention, brands are able to discuss topics and create content that will attract and interest their target. Ultimately, this will increase leads, build brand awareness, and strengthen brand credibility. The logic here is fairly straightforward: consumers will open links, follow and engage with things that they care about.
- Improved personalization: understanding the unique characteristics of the needs of your customers allows your company to create offerings that can be closer to their true desires and evolving necessities, which increases customer retention.
- Improved real-time marketing efforts: real-time marketing is becoming increasingly important and many brands are constantly jumping on conversations about events or trending topics. However, if this real-time messages are not personalized and directed at a brand’s’ target customer, they offer limited value. Being able to direct your real-time marketing efforts to a particular audience on a personalized way will give your brand leverage and put competition aside.
One of the various features that ForSight offers for consumer analysis is the Affinities™ tool. To illustrate what we have said before, we used Affinities to uncover the interests of the users talking about Quest bar on social media. The insights that we found can be turned into actionable business actions by Quest, and more specifically, they can inform Quest’s marketing campaigns. We found that these consumers are more than 1,000 times more interested in Tough Mudder races than the general Twitter audience, 92 times more interested in Kettlebells than the general Twitter audience, and 19 times more interested in Crossfit than the general Twitter audience. Quest could create a digital marketing campaign (or create written content) around any of this elements and be certain that it will resonate with the right people.
We are excited for our friends at Future Foundations to present additional insights on personalization using social data tomorrow at the Personalize Now Conference at 67 Hudson Street, New York, NY. Be sure to attend if you can, and follow the conference topics over Twitter at #personalizenow.
To register for the event, click here.