Currently, social media marketing derives more of its value through business insights than through just communication. Though primarily developed for connecting people, social media completely turned out as a new entity. It is essential that social media marketers effectively perceive user data’s significance and implement them in the campaign strategy. Famouspanel tracks the pulse of social networks enable businesses to gain feedback and figure out insights to market efficiently.
Using Social Media Analytics Tools
Measuring the social media ROI is a burden for many marketers. Therefore, the social media analytics tool helps identify the social network that deserves more of the marketer’s time, top-performing contents of the brand, and overall impact of the brand’s social presence. The appropriate social media tools provide the analytical solution for the brands even if they concentrate on a single channel or grow in multiple platforms.
Hubspot’s business analytics tools enable businesses to connect their social media performance and revenue growth. Either publishing with other devices or publishing directly with Hubspot, companies can gather reports on the social media strategy’s success across all channels. They can also compare the performance of multiple channels to measure the performance of the campaign. The analytics tools in Hubspot provide extensive visuals and graphs that filter the numbers by particular features like session duration, audience, and impression.
Leveraging the Potential of Big Data
Businesses can use predictive analytics and big data strategy in social media, thereby enhancing their decision-making based on history. Data-driven methods lead businesses to tremendous success as the system can offer upcoming customer preferences. Though habits and interests vary with time, generally, they remain connected. Once the user in social networks buys something, there is a massive possibility of choosing the relevant products again.
Users’ activities on social media, such as clicking ads, visiting pages, commenting on posts, saving links, adding friends, and following, are effective ways to do a market study. There is no other outlet that provides a precise and updated picture of the market. The market transforms so vividly; therefore, it is crucial to utilize the situation faster than competitors.
Like other businesses, social media marketing is focusing on maximizing revenue. So knowing the target audience is an essential aspect. Machine learning solutions perform far beyond and offer the possibility to gain value from millions of photos, personal information, locations, music preferences, and other social activities.
Get Right Away to the Source.
Companies are making bets on upcoming product lines according to the customer feedback from the social media networks, despite scouring through social trends to explore emerging trends. For instance, Meesh & Mia is an Idaho-based start-up that sells university-branded clothing. The brand consistently checks with its Facebook followers for their ideas on designs. The senior marketing manager says that it is a way to identify customer needs than to ask them.
The customers fill out feedback on product categories in the brand’s social media pages to learn the desired product of their customers. The company has even requested customers to choose their preferred logo through a sequential comparison and then finally produce the preferred logo mainly by the fans. Posts asking customers to suggest a future product receive significantly more than other posts. Though it is challenging to connect the overall sales with the social media strategy, it certainly enhances the sale’s quality.
Predictive Models and Tools
This model predicts the cause and occurrence of a trend in social media and is best suited for brands with enormous human interaction and a vast amount of data in their social channels. The predictive model helps to study customer patterns extracted from transactional and historical data to identify opportunities and risks. Predictive models rank customers according to their preference and assist them in making decisions for scoring leads.
The predictive tools collect enormous information, interpret them, set possibilities from a bulk of information that allows businesses to discover every behavioral pattern of their customer. Watson Analytics for Social Media is an incredible tool to filter millions of interactions in social channels, including YouTube, Facebook, Google Plus, Amazon, and much more.
Descriptive Models and Tools
Descriptive models are primitive concepts in Business Intelligence. Based on past behaviors that elaborate on what happened, the tool checks the current situation to assist the plan. For instance, marketers can develop a model to study customer responses to specific marketing activities. In social networks, posts, customer comments, mentions, reviews, and page views fall into descriptive data. By evaluating such information, marketers can categorize customers according to their preferences and figure out opportunities from that aspect.
The descriptive tools are more transparent to data analytics and offer more granular insights into what performs and what will fail. The best feature is that the descriptive tool can choose dates on the calendar or even a particular day for the analytics. Such facilities support fine-tuning the strategy for a specific period, time, or day. For instance, Buffer Analyze is an incredible descriptive tool specifically introduced to gain social media data insights. It tracks and measures every engagement and reports the most inspiring activity among the customers during the past.
Prescriptive Models and Tools
Prescriptive models study a combination of categorical, numerical, and big data along with machine learning, artificial intelligence, human interaction, company rules, and sciences to offer possible decisions. Prescriptive modeling is the best method to optimize operational efficiency, manage resources and mitigate risks. The algorithms connect internal and external variables to help businesses understand the appropriate actions to be performed and convince them with a valid reason. Instead of gathering a statistical generalization of the viable time to post content, the prescriptive model personalizes each follower.
It is essential to have a tool that accesses personalized data about the particular audience and provides valuable information regarding their social media behaviors. For instance, Followerwonk is an effective prescriptive tool to optimize social media actions. Followewonk’s main page has five tabs: Analyze, Search Bios, Track Followers, Compare Users, and Sort Followers. Businesses can get to know their faithful followers, demographics, time of posting, and much more.
The amount of function and information provided to brands through social media management tools is tremendous. It is essential to make a deeper penetration into the data irrespective of the type of tools to get the best out of their future campaigns. Businesses must own their data, and doing so helps them receive positive ROI from the campaigns instead of just winging it.