Social Media Intelligence in 2019: The Cadence to Follow
Social Media for any brand across the globe, large or small, has become the cornerstone of inbound marketing strategy to attract and engage their customers. While social media stands out to be a key platform for organic lead generation and content marketing, engagement is vital to ensure brands are attracting the right market and audience. To do so, social listening and monitoring is key and can’t be skipped from the marketing plan. Those conversations have hidden data that can be analyzed and leveraged to further strategize marketing campaigns.
So, how can brands decipher those interactions and engagements to drive success?
The Big Shift: Social to Social Intelligence
Gone are the days when social was merely used for brand promotion and outreach. Today, marketers are taking a deeper dive into the social/online conversations by moving beyond ‘likes’ and retweets’, to get a real glimpse into how consumers are perceiving a brand or the company. Those conventional methods of marketing research and analytics have become obsolete. Marketers now rely upon data-driven social insights to build audience profiles, segments and plan new product innovation. Marketers are making use of the social data to capitalize on the social conversations and better understand what motivates the audience. Social engagements are more data-driven and real now, thanks to the growing popularity and need of Social Listening and Monitoring.
What is Social Intelligence?
In simple words, Social Intelligence is the practice of gathering relevant data from social media platforms to generate key insights that can help in making better business decisions. In one of the first uses of the term in 2010, Forrester defined Social intelligence as “the management and analysis of customer data from social sources, used to activate and recalibrate marketing or business programs”.
However, while the term ‘Social Intelligence’ has been around for almost half a dozen years, a large part of on-ground usage has stayed limited to what is generally referred to as ‘Social Listening’ or ‘Social Media Monitoring”. Buyers have largely failed to gain full benefits of the intelligence that social data can provide and it is only now that a small group of leading-edge vendors have truly started ushering in the age of Social Intelligence.
So, how exactly can marketers utilize social intelligence to accelerate their marketing strategy and improve the ROI?
How to Make the Most of Social Intelligence?
Social Intelligence broadly covers these 4 areas:
Social Listening: Tons of conversations happen in a fraction of a minute on social media. But how can marketers find and measure the useful conversations to understand their audience better? How could marketers effectively communicate with their potential consumers if they have no idea about their consumer’s likes/dislikes, tastes, and interests?
Social Listening and Monitoring does the needful.
Social listening is the process of collecting data from social platforms and forums on a relevant topic.The conversations could be from users, brands, companies, or anything at all.
These social data points are further analyzed to find the key trends and useful insights for audience/market segmentations. Keeping a track of what the ideal audience is talking about or is interested in helps brands understand the sentiments of their consumers and align their content strategies accordingly. Right from understanding the brand’s sentiments and ‘share of voice’ over the competitors, to understanding the emerging market trends. Social listening is unavoidable.
Key things to measure:
- Share of Voice
- Brand Sentiments
- What’s trending/market trends
- Competitor Analysis
- Lastly, brand engagement
“You can’t be a great storyteller if you don’t understand your audience and what truly moves them.”- Frrole AI
It is increasingly vital for marketing teams to fully understand the possibilities and benefits of a better-understood audience in order to build successful campaigns and drive sales. That’s where Audience Intelligence comes to the rescue!
Audience Intelligence provides deep insights about customer segments and cohorts. It offers brands the opportunity to build a clear, realtime picture of their customers and understand their demographics, interests, affinities and personality — ultimately giving brands the best means to engage and inspire them.
Finding the interests and affinities of the audience and analyzing their interactions with various brands is valuable to further analyze what their likes/ dislikes are. What delights them, what disappoints and exasperates them? These insights have hidden clues that indicate the overall health of the brand. How is the audience perceiving the brand and service?
Getting a huge volume of mentions, likes, shares does not guarantee the success of a campaign. What counts is — how the customers are feeling about the brand!
Key things to measure:
- Overall demographics
- Psychographics- sentiment and mood of the audience
- Interests and affinities
- Audience interactions- identify the top influencers
Owned Media Insights: Online marketers today mostly strategize around paid, earned, and owned media. While the strategies look different, the underlying goal remains the same — increase brand awareness and improve engagement. While paid and earned media gives brands most of the attention of their online audience, owned media is what makes brands stand out amongst their audience.
While audience intelligence helps in understanding how the brand is being perceived in the market via social media, owned media insights is helpful in understanding the performance of the brand’s social media activity.
Owned media is simple words is anything under companies’ direct control such as websites, own social profiles, newsletters, catalogs, and blogs.
How is the brand’s shared content performing on social? Which channel is performing the best? What’s the engagement rate? How many are interacting with the brand? All these insights are absolutely critical to understand the brand’s social success.
Key things to measure:
- Overall brand engagement
- Content performance- which content type is performing the best (links, photos, text, or videos?)
- Competitor analysis to measure the strengths vs. weaknesses
Influencer Analytics: Consumers today are far more skeptical of brands and their marketing tactics than before. Building the trust for the brand is crucial. Promoting the brand through powerful digital influencers allows brands connect with the right community, engage better, and build trust on a daily basis. And this has set up the trend of ‘Influencer marketing’ today. Influencers largely help put the brands on the map.
So, who are the most influential voices in the brand’s target communities? How can marketers reach them and turn them into advocates? The answer lies in ‘Analytics’.
Key things to measure:
- Follower Analysis- Real followers/fans the influencer has
- Psychographics- Personality of the influencer (the good, the bad, and the ugly)
Measuring these above four unique sets of social intelligence is key to make the most out of social media marketing efforts.
Here’s a case study that proves that social data has a correlation with sales for a consumer-focused business and to a significant extent. Social media data can serve as a valid proxy for assessing a company’s business performance, especially when business or sales data is not readily available.
Having said that, it’s important for marketers to build a crisp cadence and track the relevant metrics regularly to make smarter marketing decisions.
So, here it is!
The Cadence to Follow:
Getting it Right
When it comes to creating a winning digital campaign, businesses need to look beyond the obvious metrics and deep-dive into understanding the psychographics and measuring the psychometrics of the audience at first place. Emotional connect adds context to social media. Hence, it’s highly recommended to keep a cadence (in handy) that will guide the marketers to craft a winning strategy that has the right emotional thrust and is rightfully backed by advanced consumer analytics.
Assess audience and trace the psychological behaviour patterns based on the scientifically validated Big 5 OCEAN assessment.
Scout provides Social Listening, Owned Media Insights, Audience Intelligence, Influencer Insights, APIs and more; hence covering the full range of social analytics in one place.
Go ahead, nail your marketing ROI in 2019!