Social Media Data: Going Beyond Numbers
Experience signifies that top business leaders value the role of social data and insights in reading consumer behaviour, foreseeing trends, and making informed decisions. Beyond simple analytics, social data can yield tangible business outcomes. For comprehensive trendspotting, competitor analysis, and efficient crisis management, infusing social insights into every facet of a business is fundamental.
Present-Day Business Objectives
According to a report by The Harris Poll on “The State of Social Media 2023”, some of the key business priorities in the current economic landscape include:
- Boosting brand reputation and loyalty
- Understanding customers on a deeper level
- Enhancing competitive positioning
- Functioning with reduced budgets and projecting future trends
Data harvested from social media platforms can augment these objectives by helping brands keep pace in a fiercely competitive environment. Beyond mere performance data, social insights can expose industry, competitive, and cultural opportunities that could provide tools for a brand to distinguish itself in a saturated market.
Precedents of Success: Social Data Implementation
Below are three instances of enterprises that successfully employed social data insights to benefit their businesses and reap concrete results.
Plaid: Using Social Data for Brand Perception
Plaid, a San Francisco-based fintech firm, allows users to connect their financial accounts with their preferred apps and services securely.
Retaining their brand image via social media is vital for Plaid. Using Sprout Social, a social media management and intelligence tool, Plaid utilized features like tagging in their strategy to drive stronger messaging, raising brand cognizance and standing. By analysing performance data and brand health insights, they could better understand what resonates with their target audience. This is particularly useful for marketers dealing with complex and heavily monitored industries, as it helps humanize the brand and establish its reputation.
Hudl: Relying on Social Data for Customer Service
Seasonality creates considerable challenges for brands like Hudl, a software firm that provides performance analysis tools for athletes and sports teams. Issues include determining whether to increase staffing cost or compromise on customer experience.
This predicament resonated with Hudl until it adopted an SMM platform, equipping them with insights to tackle customer service issues effectively. By generating reports from Sprout, they could forecast when they would need to amplify social support or steer customers towards self-service support and tutorials.
Goally: Benefiting from Social Listening Insights
Goally is a tech firm designed to ease the lives of families with neurodiverse members. By leveraging social listening features available on Sprout Social, it achieved better understanding of the larger conversations relevant to its industry and discovered the unique needs of its core audience. By actively participating in social listening, brands can broaden their understanding and tune into wider social dialogues within their industry, competitors, and, crucially, target audiences.
Social media can contribute far beyond just clicks, likes, and shares. It enables firms to extrapolate valuable insights and data, influencing various other aspects of a business. With the right tools and expertise, you can emulate these progressive companies and make superior business decisions, utilizing social data.
Want to Revolutionize Your Social Media Strategy?
Sprout Social, a social media management tool, offers solutions such as publishing, listening, reporting and more. Sign up for a 30-day free trial or request a demonstration today, and explore how Sprout can help you unlock your social media strategy’s true potential.
Frequently Asked Questions
1. What is the significance of social data in the business landscape?
Social data refers to the insights and information gathered from social media platforms. It is integral to understanding consumer behaviour, predicting market trends, competitor analysis and crisis management. It can also be used to strengthen brand reputation and loyalty, enhance competitive positioning, and operate within reduced budgets.
2. How can a firm like Plaid use social data to enhance its brand perception?
Plaid utilized social media management tools like Sprout Social to understand what resonates with their audience. By analysing performance data and brand health insights, they can form effective communication strategies, thereby raising brand cognizance and boosting their reputation in a heavily regulated industry.
3. How does Hudl use social data to improve its customer service?
Hudl used an SMM (Social Media Management) platform to generate forecasts of customer service inquiries via social channels. The insights derived from these reports aid in determining when they needadditional social support, thereby ensuring quality customer care throughout the year.