Leveraging Big Social Data

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1 Leveraging Big Social Data

2 Leveraging Big Social Data New ways of processing and analyzing Big Data have led to innovations across many industries from software that can diagnose Parkinson s to earthquake warning systems in Japan. But for marketers, the integration of big data is still in its infancy. Some brands in the B2B sector have made progress, tapping into transactional and campaign data to improve their CRM capabilities. But for most companies, the biggest resource for consumer data, social networks, remains untapped. If you re not leveraging this intelligence, you re ignoring a deep well of insights about consumers and content. This report will outline the ways your brand can successfully identify and implement actionable social data into its marketing programs. We ve broken it down into three easily digestible parts. Sizing the Social Opportunity Key Metrics for Success Integrating and Analyzing Big Social Data

3 Sizing the Social Opportunity Social media is the single largest resource for information about consumers. So for marketers, big data and social data are one and the same. Big social data spans the three dimensions that define all big data: volume, velocity, and variety. Volume: In 2012, 1.4 billion consumers spent 22% of their online time on social platforms. There are more than 250 million Tweets and 800 million Facebook updates every day. These numbers will multiply as mobile and social usage continues to grow. Velocity: Big social data is constantly refreshing giving marketers real-time, accurate insights into the latest developments in consumers lives. Your team can stop targeting campaigns based on outdated, dirty consumer data and start offering consumers information they really want, when they actually want it. Variety: Social network users produce many different kinds of data, including images, videos, comments and social actions. They also offer up information about their age, gender, location, and addresses. They re even assigned unique IDs by social networks, allowing you to track them from top of the funnel through conversion and beyond. Platforms like Facebook and Twitter give marketers access to consumers entire social networks. Using this data, you can actually map social patterns, tracking how consumers influence their friends, and grow word of mouth about your brand.

4 Key Metrics for Success Before you can establish a process for integrating data, determine which metrics are most valuable to your business. The number of metrics available is daunting, and it s often tough to know what to evaluate first. Focus on information that s actionable data you can use to target your consumers and sell to them across all of your marketing initiatives. Here are a few key metrics to get you started. Content Engagement: Measure the ways social users interact with your content, including comments, shares, referrals, and participation in social campaigns. For more nuanced insights, categorize your content by topic and type posts about shoes, videos, etc. Evaluate engagement metrics to find trending subjects, and use the findings to create compelling content and define best practices across all channels social, , Facebook ads, etc. Fan Loyalty: Don t just track overall content performance look at how frequently individual fans interact with your posts and campaigns. Identify the people who are engaged with your content, loyal to your brand, and influential among their friends. Your team can use this information to create exclusive programs and offers for your brand advocates, cultivating further engagement and more sharing. Fan Interests: Look at fan interactions with content categories for clues about their interests and intent to purchase. Your team can then react to these insights with targeted marketing content about their favorite subjects and products. Social Profile Data: Fan-created profiles give you access to their demographics location, gender, age, etc. Evaluate other brands your fans follow as well. It s a great way to get competitive intelligence, and identify common interests across your consumer base. User-Submitted Data: There s no point in collecting social data unless it s actionable. Use social campaigns to collect addresses and mailing addresses from your fans and tie them to other data about their behaviors and interests. You can then run targeted campaigns based on any number of combinations of the data you ve collected. For instance, target yoga fans under 25 with an exclusive discount via Facebook ads, or send New Yorkers an exclusive invite to a flash sale in Soho.

5 Campaign Performance: Track the performance of your big social data-fueled campaigns, and use your findings to refine the data collection process. Be prepared to make exciting discoveries about what your audience wants, and make sure your team is ready to react quickly. Integrating and Analyzing Big Social Data With a clear understanding of which metrics matter most, the next step is to invest in technology that helps your team capture, analyze, and export social data. Consider solutions that can capture how your social content performs, as well as demographic and behavioral data. The system should automatically tag unstructured data types like comments, addresses, etc. It should also allow easy integration of social into other systems, like Google Analytics and your CRM. With a well-tuned system, you can leverage social data across channels, serving multiple business functions.

6 Sharing Data Across Functions: Marketers use social data to learn about consumer behavior and preferences and run targeted messaging and campaigns across multiple channels. They segment lists by factors like location, activities, and interests enabling targeted communications that yield higher clickthrough rates and better offer performance. Integrating social data into your CRM gives you a fuller, more accurate read of consumers at all stages of the buy cycle, making your sales team s interactions with customers and prospects more timely and effective. For retailers, social insights can inform merchandising and manufacturing strategies. Companies may discover many of their Facebook fans like a brand they don t carry, and then use that insight to buy that product or create something similar. Or they can run social campaigns that solicit fan feedback about products they re likely to buy anticipating client demand without investing in costly market testing. Online retailer ModCloth has found success in applying user data to inform their inventory decisions. Their Be the Buyer program allows consumers to vote for the designs that ModCloth will sell on their site. Items created as a result of the Be the Buyer program sell twice as much overall as other inventory. Big social data has the power to transform the way brands market to consumers by producing content that s more timely, relevant, and persuasive than ever before. This strategy will help marketers drive more conversions across all channels. In order to stay competitive, brands will need to leverage big social data in About Offerpop: Offerpop is a super easy-to-use social marketing platform for Facebook and Twitter. Marketers across the globe use Offerpop to build active fan bases, optimize their social content, and unlock rich, actionable data that converts fans into customers. From small businesses to top brands like Amazon, Pepsi, and MTV, companies use Offerpop to drive success across their key marketing channels engaging and converting fans like never before. Offerpop is a Facebook Preferred Marketing Developer, qualified by the PMD program in Apps. Website: offerpop.com Facebook:

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