Analysis is an important part of running, managing and optimizing any social media strategy. From the success rate to the areas that need development, a thorough analysis can help us find out everything that matters for our campaign. What insights can be gained from an analysis of social media?
The analysis process may not come off as simple when we look at it for the first time. In this post, we are going to change that. Here’s a brief guide to acquiring and analyzing consumer insights for any social media campaign.
Before we delve into how to acquire and analyze consumer insights, let us define the types of consumer insights that we can gain from social media. Here’s a list of four such insights that you can get surrounding key consumer types, demographic details, purchase behavior, and brand image.
Social media metrics can help you determine the type of consumers who are posting about your business or its niche. This will also help you pinpoint common consumer characteristics so that you can design your future campaigns accordingly.
With the market competition on a constant rise, it won’t be wrong to say that the rewards lie in the details. The more specific you can be about your audience’s demographics, the higher your chances of connecting with them. By looking at your marketing data, you can identify a large number of essential demographic identifiers. This will help you modify your marketing strategies for the best results. You can also gain information about your consumers’ personal interests to plan your ads around what your audience already likes and knows.
Based on the ads that brought you conversions, you can figure out which audience is more likely to buy from you, what type of ads works best for your product or service, and what actually motivates people to make a purchase. Identifying purchase behaviour will help you modify your product, content, and digital marketing campaigns for achieving your business goals. Purchase behaviour will also provide insight into the time of the day and the day of the week when buyers are most active.
Before you go all in to promote your businesses on the web, it’d be safe to know what your audiences think about your brand identity on social media. Brand image is a critical factor determining whether consumers know about your brand, whether they like it or not, and whether people will buy from you. Having clear information on how your potential customers feel about your brand can help you figure out if you need to put in extra effort to convert a sale. So, make sure you are observing your brand’s marketing statistics regarding brand image and perception.
Moving further, the following pointers will help you acquire & analyze consumer insights from social media buyers and competitors.
Finding out how a consumer is reacting to any or all of your marketing campaigns is crucial. Whether you are using Facebook, Instagram, or Twitter ads, one of the main goals is getting a reaction from your target audience. In addition to using LinkedIn for sales, you can also leverage this platform to discern consumer behavior.
If your ad is being ignored by your audience, it means you need to reconsider your approach and make changes to your offer, ad image, or CTA. If these changes don’t trigger reactions from your target people, you should probably go back to the beginning and re-analyze your audience to make sure you’re targeting the right people. Getting reactions to your ads from your target audience, you know that something is working in your favour, so you can keep experimenting with ad formats and offers.
When you get good results for a campaign, trace back towards the ideas and steps that you followed while preparing the campaign. This will provide you with effective ideas for optimizing current and future campaigns. You’ll also be able to find out whether personalized images work better or infographics do.
Any customer who buys from you would have certain judgements about your products & services. These judgements can be positive or negative, and in both the cases you should know what they are. Customer feedback is the easiest way to find out whether or not your brand is moving in the right direction.
Whether the consumer loved your product, found some shortcomings in it or didn’t like it at all, hearing customers’ feedback will help you find out the features that you should improve, the issues you should resolve and the components you should keep. So, encourage your consumers to give feedback, take this feedback seriously, and know that you can also use the positive feedback to lure in more customers.
To get deeper into the consumer insights, you should get deeper into the journey of your sales. Starting from evaluating your campaign in its initial stages, move forward to find out how your team designed it, implemented it, got results, how well did the campaign sell, who bought your product(s), what was their preferred route map for making the purchase, and whether they liked it or not. As you evaluate the entire buyer journey, you will come across several metrics and identify top key performance indicators that you’d want to monitor for producing better marketing results.
No matter how well you are doing with your brand’s marketing strategy, you will still be lacking if you neglect your competitors. Your competitors’ marketing strategies can be a treasure of useful ideas for your brand. This doesn’t mean you should mindlessly copy their actions. But smart analysis of your competitors can help you understand their strengths and weaknesses and use these insights to stand out.
Through research keeps you ahead of your competitors. By keeping an eye on your competitors, you will find out about the latest market trends, latest buyer preferences, top features that are working for almost everyone in the market, and the mistakes that are damaging businesses in your niche.
Certainly, this data is super useful and can help your business to stay on its feet even in a disturbed market. So, don’t neglect this. Keep a good eye on your competitors, and find out what is working for them. Competitor analysis also gives good insight into your brand’s top unique selling propositions that attract the most customers.
Acquiring and using the right consumer insights from social media for your business’ marketing campaigns is crucial for attracting new customers and achieving optimal growth. However, the process can be overwhelming at times. In this article, we discussed a few types of insights that you can get from social media, and talked about how you can acquire and analyze them. Hopefully, this was helpful.
Author Bio: Stefan Smulders is a SaaS Entrepreneur | Bootstrapped to €3M ARR in just 1year | Founder of Worlds safest software for LinkedIn Automation Expandi.io | Vegan | Father