Four Ways Social Media Data Can Benefit Your Business

Social media platforms are effective data-gathering tools for marketers. They collect actionable personal information, such as age, gender, and user interests. 

Social platforms use the collected personal data to tailor better user experiences. For instance, social media users fond of tech are more likely to be shown tech ads and content, while those fond of pets get more pet content.

Besides that, social media platforms can also generate ad insights for businesses. These metrics include impressions, reach, engagement, cost-per-link clicks, and many more. There’s also sentiment data such as comments, retweets/share captions, and brand mentions.

It’s no surprise that social media data can immensely help you understand your audience. But it can help you achieve more than that. This post discusses the four core benefits of assessing social media data.

Let’s dive in.

From such data, you can decide to make business changes like reinforcing more age-inclusive marketing strategies to appeal to men of all ages. Or, adopt a content strategy that focuses on your stronghold age which is the 25-34 age range.

Proper assessment of your social media data will help you make logical business decisions, which will grow your business in the right direction. 

By analyzing your social media data, you understand the market better. In turn, you can also improve your other marketing campaigns — not just social media ones. This includes your email marketing, your traditional advertising, and your SEO.

Once you enhance the performance of your overarching marketing campaign, you can meet your business goals more quickly.

Also, running paid ads can generate more useful data than organic posts because you gather insightful engagement metrics such as purchases and link clicks. This could give you ideas about what your target audience likes. With this, you can showcase and inform them about similar products through social media organic posts, retargeting campaigns, or special promos. 

Finally, if you notice better conversions from a particular ad, you can use the data to improve your content ideas to effectively nurture your leads and keep them engaged.

With the help of social media analytics, understanding your audience can help you develop strategies that will lead to higher ROI. 

For instance, the data you get from social media platforms can help you create accurate buyer personas and run ads more likely to bring conversions. As a result, it’s easier to get maximum returns on your social media ad spend. 

Also, social media can help you learn from what your competitors are doing so that you can direct your marketing efforts more effectively. With social media data, you can discover details like:

• How often your competitors post on social networks.
• User sentiment about competing products and services.
• Hashtags competitors are using.
• The type of ads your competitors are running. This is easily accessible on platforms like Facebook, Youtube, and LinkedIn.

Observing your competitors’ social media activity helps you understand the target market better. As a result, you can carefully plan your marketing approach so you’ll get more ROI as opposed to working without any background information.

In Closing

As a business owner, you cannot afford to overlook the benefits of social media and its wealth of data.

Assessing social media data will allow you to make more informed business decisions. Additionally, you can improve your marketing performance, nurture your leads better, and maximize your overall ROI.

So before running your next social strategy, take a step back. Assess market sentiment, your market demographics, and your existing campaign’s metrics. This will lead to better results, which in turn, improves business growth. Good luck.