The continued growth of social media channels such as Facebook, Twitter, Instagram, YouTube, Snapchat, and Pinterest have forced companies from the solo entrepreneur to the multi-million dollar business to tailor marketing efforts accordingly. Every day around the world, Facebook users post 4.3 billion messages and YouTube users upload more than four million hours of video content. No matter what the social media channel, it contains invaluable data for marketers.
The increase in data means that companies must use sophisticated tools such as business intelligence (BI) to stay on top of it all. BI allows managers to gain critical insights as well as make better decisions regarding current and future marketing campaigns. Marketers who don’t use the tools available to them may find themselves unable to compete in an increasingly global market.
Tools like BI allow for the easy gathering and analyzation of extensive data within just a few minutes. It would take a human being hours or days to complete the same function. Best of all, BI tools can turn the data into pie charts, bar graphs, and other types of easy-to-read reports. Continue reading to learn how BI can help your company maximize the impact of its digital marketing.
Prior to the modern digital era, marketers lacked resources for collecting information and feedback on their campaigns. The ones they did have couldn’t provide the deep insights they needed to understand and target specific customers. That meant that marketers had to rely on their instincts more than anything else when creating and managing public relations campaigns. Because of this, many marketers felt intimidated when it came time to use the data gathered from market research and analysis. BI eliminates the guesswork in marketing, thereby saving considerable time, money, and effort on something that feels right instinctually but may still not work.
BI makes it possible to obtain insights from your various social media platforms and determine which one provides the highest percentage of conversions. It allows you to see which posts interest viewers the most as well as learn important data about their demographics. With each share, like, click, or purchase that you track, it allows you to see where you’re getting the best online performance. Another benefit of BI is that it can help your search engine optimization (SEO) efforts. It enables you to collect rich data about keyword searches, keyword competition, click-through rates, and similar data. Most importantly, it provides you with the insight you need to optimize future campaigns.
Use Real-Time Analytics to Optimize Online Marketing Campaigns
Approximately 90 percent of people in developed countries get their news and current events from one or more social media platforms. With the ongoing input of new data, existing data can become outdated within days. For this reason, marketers must analyze very recent data using rea-time analytics. This enables them to continually monitor recent data to help improve the performance of their marketing campaign and reduce their advertising costs.
Real-time analytics allows online marketers to monitor any social media network where they have an account. With BI platforms providing real-time information, it’s easy for businesses to market hundreds or even thousands of their products across major social media channels and search engines. The always-current data makes it easier to decide where to increase or decrease spending on advertising.
If you find that some keywords don’t produce much traffic or convert visitors into paying customers, you can find and fix the problem with BI. Another possibility is that spending a lot of time on certain social media platforms is not profitable for your company. If so, BI helps you determine which ones are not worth investing time and money into over time.
Social Analytics Can Help Marketers Better Understand Consumer Behavior
BI helps you gather information about online mentions, social shares, likes, and comments in a more concise manner. These details assist digital marketers with gathering crucial insights into what drives the behavior of their online targeted audience. Call Sumo offers two types of tools for social analytics that help you to further understand the behavior of your intended customers. These are social media analytics and web analytics.
Social media analytics is a tool you can use to collect data about all types of online engagement across all of the relevant social media channels. It aids you in gaining a greater understanding of consumer behavior, particularly for the demographics you want to reach. It allows you to see which of your outreach techniques work the best as well as how online consumers view your company’s products and services. If applicable, it can help you see why you are losing ground to the competition.
The web analytics tool helps you determine things such as which demographic the most customers come from, the percentage of traffic increase over the last week or month, and the percentage that your bounce rate has decreased. The data you collect through web analytics allows you to see which areas of your website attracts the most customers and which ones need additional work. You receive real-time data from Call Sumo that enables you to send additional traffic to your company website.
One tool that we regularly recommend to customers is Brandwatch. This tool scours social media websites like Twitter and Facebook, blogs, online reviews, and other areas where consumers gather to provide you with highly relevant data you can use to make better business decisions. It’s popular among online marketers because it gives them an edge over the competition in understanding what drives consumers to purchase one product or service over another.
Brandwatch provides you with extensive data very quickly, which allows you to make use of it right away. It would cost you much more to hire someone to mine for data and it would also take him or her much longer to produce lesser results. This tool gives you features like automation, demographic insights, and sentiment analysis to assist you in analyzing each aspect of your marketing campaign and implement measures to improve them.
Call Sumo looks forward to helping your company grow. Please contact us today to learn more about BI and our other business tools.