We all know the adage “The customer is always right.” Today this is truer than ever as marketing becomes increasingly customer-driven. Consumers want product information to be available where they are, and when they want it. The increasing use of mobile devices and social media play a big part in the way customers conduct business, share information, and make their opinions known. Nearly 1.7 billion people have active social media accounts.
While social media provides a window into the customer’s needs and preferences, the challenge for most businesses is making sense of all the information that streams in through various social media sources. The right analytics tool gathers data through social media accounts and pages so it can be mined to drive insights and provide a more personalized customer experience.
What Can You Learn from Social Media?
Social media sources like Facebook, Twitter, Pinterest, Instagram, Google+ and YouTube help you understand and identify your customer base. Comments and posts reveal information about your target market that you can use to develop a customer-driven marketing strategy. The more you know about your customers, the better you can tailor offers, promotions, and content to meet their needs.
Monitoring social media is a great way to gauge customer sentiment. On Twitter, you can learn how your customers feel about your products and services by tracking the number of your followers or retweets. Facebook and YouTube provide numbers of “likes,” thumbs up, and thumbs down. This valuable feedback on your business can help you adjust your marketing strategy to improve public opinion and build customer satisfaction. Satisfying your current customers builds brand loyalty. These customers will return to you again and again. You can, in turn, use these loyal customers to build your customer base.
Consumers use social media to explore their options by looking at previous feedback before making a purchasing decision. You can benefit from this by providing customers with incentives to refer other people in their social network to your business.
How Do You Make Sense of Social Media Marketing Data?
Challenge: Massive amounts of marketing and social media data in multiple different databases and a huge time commitment to try and mash it all together to create one clear picture of what’s happening with your initiatives. Social media provides a wealth of information for your business, but how do you make sense of the data? The data you need to make smarter marketing decisions comes in many forms from many sources, adding to its complexity. Information floods in from blogs and social media websites, but all this data needs to be analyzed before you can act on it.
Solution: Fortunately, you don’t have to be an expert in algorithms anymore to sort through it. Capitalize Marketing Analytics offers Marketing and Social Media Analytics that curate information from multiple marketing and social media platforms into a single dashboard. With that capability, you can view results at a glance. Now you can simplify the process so you can progress from raw data to insight to action in a timely manner. You can say goodbye to cumbersome, time consuming and potentially error prone spreadsheets.
- Customizable dashboards allow you to tailor analytics to the requirement of your unique marketing plan.
- Analytics, sentiment analysis, and linguistics help you understand customer attitudes and perceptions so you can customize your marketing strategy.
- Predictive analytics enable you to forecast future buying behavior so you can anticipate your customer’s needs.
- Coordination with other parts of the business, like accounting and sales, lets you know how effective your marketing plan is and where you need to make adjustments.
- Capitalize Analytics Marketing and Social Media Analytics boost revenue and reduce customer service costs by using your data, not just collecting it, to provide customer feedback to meet and exceed expectations.
In this age of customer-driven marketing, social media is an indispensable resource for profitable insights.
Start benefitting from social media analytics today. Contact one of our marketing analytics experts today to get the discussion started!