As Executive Vice President of Marketing with Crimson Hexagon, I was recently interviewed by Great Britian’s BDaily Business News to discuss the marketing evolution in how brands can tap into conversational data sources to improve outcomes:
We live in a data-filled world. And much of that data is rich with consumers’ unsolicited opinions, which when used properly, can provide companies with business-critical, actionable insight and information.
But what exactly does it mean to use data properly? The goal of social media monitoring and analytics tools should be to provide context, meaning and structure to online conservations, and provide brands and marketers with the information necessary to accurately identify and engage with their customer base. With an effective social media analysis strategy, companies can better understand consumers who, now more than ever, are turning to social media to express satisfaction, grievances, thoughts and feelings.
When paired with a company’s keen sense of brand messaging, social media listening tools can be a crucial part of any advertising or marketing campaign. By correctly developing a social strategy, brands can obtain insight into campaigns, improve product or service offerings, and properly address consumers’ concerns, all while monitoring and analysing greater global trends.
An effective social strategy pulls from the rules of traditional word-of-mouth campaigning by aiming for greater visibility, engagement and long-term customer interaction. While some argue that social media is less controllable and predictable, it also goes beyond the power of paid advertising by allowing brands to guide consumer conversations, nurture relationships, recognise customer preference, and promote positive experiences and feedback. The impact of a social campaign is significantly greater because of its wide visibility to audiences and the credibility it holds with consumers.
Social media has become an essential channel for brands and marketers to better understand and engage with consumers, and more brands are utilising social analytics tools that act as constant online eyes and ears. Remember, data alone won’t always display the full picture – the true value lies in understanding your core audience and identifying the ‘why’ behind each of their conversations.