A growing number of your customers are becoming more active on social media.
According to Pew Research, 68% of U.S. adults have Facebook accounts and 73% use YouTube. When looking at younger demographics (your future customers), those numbers rise even further. In fact, nearly 90% of 18- to 29-year-olds say they use some form of social media. And with such an overwhelming amount of social media usage, the data is quickly piling up.
But not every brand is using that data to its maximum potential.
Social data can do more than measure brand sentiment, just ask expert marketing analyst and founder of Kaleido Insights, Rebecca Lieb. To advise some of the world’s most recognized brands on their content and social media strategies, Rebecca and her research firm use social data to craft their recommendations.
We recently sat down with Rebecca to hear her thoughts on why social data is so valuable and has limitless potential. Read on to see our full conversation.
A Q&A With Top Marketing Analyst & Advisor, Rebecca Lieb
Q: In your opinion, what is the relationship between social data and consumer insights? How are the two related?
Social data is consumer insight.
Social data can encompass a lot of things. Just a few are demographic and geographic data, wants, needs, propensities, whether or not a consumer might be in-market for a product or service, political and social orientations. Really, the list is infinite.
Q: As you know, insights can come from a variety of different data sources. What unique insights can social data provide that other data sources can’t?
What immediately comes to mind is the temporal aspect of social data. Insights can be gleaned in real- or near-real-time. Additionally, in aggregate, social data can paint very holistic consumer profiles.
Q: What role does social listening data and consumer insights have at your firm?
All four founders of Kaleido Insights have social listening in their DNA as researchers.
Early in our careers, we were some of the first and most influential analysts and researchers in the fields of social media, which of course includes social listening and social data. We've published innumerable studies on these topics, spoken about them all over the world, and both advised and trained organizations on how to use and how to leverage social data and consumer insights.
Asking that question is almost like asking a fish about water; it's the world we live in!
Q: All the way back in 2013, you wrote about the “Me-cosystem,” which you could say has evolved into today’s “on-demand economy.” How can brands use consumer insights produced from social data to tailor their digital experiences for the “on-demand” or “Me-cosystem” economies? And what impact will this have?
As I mentioned earlier, social data is a terrific indicator of real- or near-real-time wants, needs, reactions, moods, etc. The “Me-cosystem” is all about that demand, and that demand is here and now.
Social data is the best indicator of the on-demand economy. Where are they? What are they doing? Shopping for? Looking for? Wanting or needing?
This goes well beyond computers and even mobile devices into more embedded and smart types of technology: wearables, beacons, sensors, AI, etc. All can react and respond to social (and other) signals to meet, address and fulfill real consumer demands in real time.
Leverage the Value of Social Data
If you want to fully understand your customers and create a holistic picture of your target audience, you need social data to light the path. According to Rebecca, it’s one of the most credible and timely sources of customer data that you have at your disposal.
Ready to collect, analyze, and act upon your brand’s social data? Learn how you can evolve your approach to social listening and reach sophistication by downloading our eBook, Climbing the Social Data Ladder.