Businesses are all about generating profits. No matter how incredible your products or services are, the general masses won’t know about them without proper marketing channels advertising them.
Not long ago, businesses relied on flyers, brochures, and salesmen going door to door, to the advertisement of their products and services – that sort of marketing is long dead now.
These days, it’s all online. The major reason for this shift is technological advancement and the rise of social media platforms.
Primarily advertised as a medium of quick and effective communication, social media has now evolved into a complete marketplace.
People now want a mobile-friendly experience and have at least one favorite social media channel that they use regularly.
Very few channels provide the kind of consistent audience like social media does. Considering all this, it only makes sense that businesses need to up their social media game.
But is running a few ads enough when it comes to utilizing the power of social media to generate a customer base? The simple answer is no – it goes way beyond that.
Social media analytics is a goldmine for any business that is willing to explore its growth potential. It can provide you with real-time data about your audience demographics, habits, purchase history, and much more.
Here are some ways your business can leverage its social media analytics to generate profit and attract customers.
5 Exclusive ways For Your Business To Leverage The Social Media Analytics:
1. Learn About Your Marketing Personas
As mentioned before, merely running an ad on any social media channel is not enough. The key is to know who to run your ad for – that is your target audience.
For marketers, there are many courses available like the Best online MBA data analytics program, that not only educates about how to acquire data but also imparts ways in which that data can be assessed for targeting audiences and making better business decisions.
When it comes to making sales, customer data is paramount. Knowing your customer data is integral for developing the perfect marketing message that will resonate with your audience.
Social media analytics provide actionable real-time data about customer behavior, intent, and preferences.
Explore tools like Facebook insights that not only educate you about your audience demographics but also their peak active hours, and how they engage with your content.
Assess all this data to segment your audience into different groups and identify distinct marketing personas. Valuable insights like these help you devise the perfect marketing strategy.
2. Identify The Best Channel for Your Business
According to a recent survey, 90% of marketers claim that social media marketing has enhanced their business exposure. That being said, different social media channels appeal to different user bases.
TikTok is primarily used by young kids and teenagers while Instagram is preferred by audiences between 25 to 34 years old. Baby boomers have marked Facebook as their territory, while Reddit is mostly occupied by millennials.
These aren’t merely interesting facts but rather key insights for any business looking to market their products or services at the right platform with the best monetization potential.
Social media marketing may be a cost-effective marketing strategy, but it still requires considerable time, effort, and money to get desired results.
Optimize your business marketing strategy by identifying your top-performing channel and investing in it accordingly.
Top-performing channels can be identified through social media analytics. Explore social media analytics to gain valuable insights regarding content strategy for each channel.
Businesses may utilize different social media channels for different purposes. For example, Facebook may be used for spreading product awareness while Instagram may be used as a marketplace.
3. Optimize Your Content
Content is the name of the game when it comes to social media marketing. The right message at the right time in front of the right audience can drive in customers, generate profit, and increase sales.
Social media analytic tools help you recognize how the users are interacting with your content – what they like, and what they don’t.
Optimize your content strategy while keeping in mind the data from your social media analytics. It will help you generate content that is targeted and resonates with your audience and their needs.
Keep the following tips in mind to optimize your content:
- Generate Relevant Content
- Continually Test Your Content to Identify the Best Performing Version
- Assess How Users Engage with Your Content
- Pay special attention to the topics that are well-received by your audience
Doing so will not only improve your content strategy but will also provide your audience with real value.
4. Predict Audience Behavior
Gathering real-time data and acting on it to enhance customer experience and marketing strategy is all good, but why not take it one step further and predict customer behavior.
Half of a marketer’s job is to chase customer intent and generate campaigns that address said intent. The world is evolving and so are consumer behaviors, which makes this chase a never-ending one.
Fortunately, there are smart analytical tools now that not only gather real-time data but also provide data-driven predictions based on consumer behavior and history.
Being one step ahead of the curve helps you develop an effective risk management strategy and contingency plans. Also, it can help you address an upcoming consumer need way before your competitors.
5. Consider Influencer Marketing
Influencer marketing may be a newer tactic, but it’s on its way to becoming one of the best marketing strategies preferred by a lot of businesses, big and small.
Data shows that 71% of marketers consider the quality of traffic and customers derived by influencer marketing better than other advertisements.
All the best marketing gimmicks in the world cannot overrule the fact that people relate to other people more than businesses and organizations.
Social media influencers have the power to persuade the purchasing decisions of their followers and businesses need to utilize this power in their favor.
But don’t forget to choose an influencer whose ideas and content are in line with your brand image, otherwise, you run the risk of appearing ingenuine.
The world of social media is vast and diverse. It has something for everyone, and that is the very reason that businesses can utilize it to attract users and turn them into loyal customers. All this can be achieved with the help of social media analytics that provides you with valuable key insights regarding your audience, their behavior, needs, and sentiments about your products and services. Explore social media analytics and apply the acquired data to develop an optimized marketing strategy that drives consistent traffic, and generates higher sales.