Since the 1980s, the term “data” has been an important term in the Internet industry. As people pay more and more attention to the digital field, how to manage data becomes very important (especially when considering the amount of data that needs to be stored and analyzed). Big data can handle large and complex problems that traditional data processing tools cannot solve.
According to different sources, big data is composed of data from inside and outside the company. These data are excellent tools for continuous analysis and strategy formulation. Now that more and more information is available on the Internet, it is especially necessary to select data in an appropriate order and obtain more in-depth insights, and this is where big data is used.
With the advent of big data, social media marketing has entered a completely different level. With the help of these data sets, professionals can formulate personalized marketing strategies (ordinary Internet users may feel a little overwhelmed). Many websites use big data and artificial intelligence to design perfect strategies for customers who need to increase Instagram followers to increase engagement.
If you are feeling powerless against this oncoming wave of big data, then you have come to the right place. As long as you can tap the true potential of big data, then with some simple adjustments and tips, you should be able to compete with the giants in the market. So, let’s take a deeper look to better understand how companies should use big data for social media marketing.
01. Social media is also a kind of big data
In all the most basic concepts about social media, people often do not understand “social media is one of the biggest parts of social media.”. In fact, social media platforms are one of the most important sources of big data. A recent study showed that more than 85% of all data existing on the Internet were added in recent years. More interestingly, about 80% of the data comes from unstructured sources such as social media.
Obviously, the influx of data from social media platforms has slowly been included in the so-called “big data” range. Data is information. Information can be anything: from your profile picture to every comment, to every status you update, all of this constitutes data. Therefore, when we think of social media and big data, we must first realize that the two are interdependent.
Social media is no longer an option, it has become an indispensable part of everyone and most companies’ lives. In other words, this is also a necessary condition for success. Therefore, in order to effectively analyze the data from social media marketing, you must have a clearer and larger background understanding of your brand’s participation and market penetration (if you want to get a greater return on investment).
When you want to take advantage of big data, its inseparability from social media gives us the creative freedom to develop highly targeted marketing strategies. Big data gives marketers the ability to analyze market data, and it turns out that these data are extremely useful for creating more predictive methods. By calculating and analyzing past data sets, marketers can more effectively determine the effectiveness and coverage of current strategies, rather than simply comparing growth numbers with past performance. This helps to predict customer behavior and habits, thereby helping marketers develop new customer engagement methods, and then form effective marketing strategies. With the information provided by big data, companies can now predict:
What will customers buy in the short term?
What do customers need to buy?
What type of products do customers like?
How much is the customer willing to spend on a particular product?
In addition, many other information can be predicted. These data are very valuable for launching the right promotion activities at the right time and adjusting the current needs accordingly.
A recent report by McKinsey & Company shows that if a small retail company can properly use big data, it can effectively increase its profit margin by more than 60%.
As most companies gradually turn to digitalization, big data ushered in a new era of personalized marketing methods. Big data allows individuals and companies to rethink their entire marketing model. It provides marketers with a means to create highly focused marketing strategies that can help them obtain greater profits. In the past, you had to pay close attention to your competitors’ every move. Now with big data, you only need to pay attention to what is most beneficial to your business and customers.
Because you and your competitors follow different rules, the final results you get will inevitably be different, but with the support of big data, you will definitely win.
Think about it, big data has greatly helped companies with relatively few resources, enabling them to compete with large companies in the market. Ultimate success is measured according to the goals and objectives you set yourself, so you cannot simply define success on a single level.
Big data enables marketers to correct any errors that may have an adverse effect on performance, and it also allows them to have a general understanding of the performance of the campaign before launching the campaign. This eliminates the need to rely on old data of similar activities for measurement and comparison.
Predictive tools for big data analysis may be the key to effective marketing campaigns on social media. Although your competitors are still struggling to choose the right age group for their Facebook and YouTube ads, they spend hundreds of dollars a month in order to get a little sales, and you can already use the appropriate expertise and tools through big data. Technology, let sales come by themselves.
With the exponential growth of big data, professionals are required to integrate the data into meaningful analysis results for ordinary people to better understand. The more complex these data sets, the more tools need to be developed to analyze them. Machine learning and artificial intelligence have played a vital role in the analysis and separation of data. This is especially useful when you are looking for your industry target market. Therefore, this can help you reach the desired audience more easily.
Although some people may think this is an infringement of customer privacy, but importantly, big data will prove that it can bring huge benefits. It can reduce advertising costs while doubling revenue. Only targeting customers with relevant interests will make the campaign more effective.
Big data enables customers to target beyond their basic information, which will ensure that your marketing activities reach an unprecedented dimension. When you can locate users based on what they like and dislike, statistics such as race and nationality become trivial. What kind of shoes do they like, what brand of perfume they like, and what mobile phone they use. This precision will help you determine what products your customers are looking for.
Assist your social media strategy to fine-tune marketing campaign information to ensure more effective communication and exchanges between you and buyers.