“Highly Data-driven organizations are three times more likely than others to report significant improvements in decision making”. The amount of data at company’s disposal is no longer the road block, rather creating Actionable Insights that fuel business decisions from the ocean of data is holding companies back from the full potential of Big Data. Two of the biggest businesses in the United States, Facebook and Google, are Ad Tech. This should showcase how many millions of data points are fuelling advertisement decisions already, and the types of analytics continues to grow. Just recently Facebook updated their Facebook analytics tool to improve the benefits for Marketers and Product Managers, by leveraging Facebook’s user data.
Demographic insights are going to be very important in the next few years within the analytics industry. The amount of data is no longer the problem, but the type of insights created from your business data is. Demographic insights will be fuelled from data coming from multiple sources, to create very clear and descriptive perspectives of the clients throughout the sales lifecycle. Facebook is now incorporating their own anonymized audience data so users can learn what Facebook pages their users like, among other insights, so users can be attuned to their customers and provide products that are aligned with their clients. The other massive feature update from Facebook allows users to compare their audience segments side by side. This is huge for Marketers who are trying to compare and learn what search engines provide the most traffic, or which age group is more likely to engage with video content for example. For marketers, this means the power of asking the right questions, which will lead to the “a-ha” moments. As I have said earlier, successful marketing strategies are at the axis of creative and scientific.
Leveraging your data analytics should be involved in every part of the marketing decision, including the planning, implementing, and especially looking back on past campaigns to learn for the future. Like your history teacher in high-school always said: “if you do not learn from the past, you are doomed to repeat it” Ask your data questions every chance you get, this will lead to new perspectives on your consumers, your digital channels, and your marketing campaigns. Marketers need to be empathetic enough to care about their customers’ wants and needs and how they go about learning and eventually buying their products and services. In this age, we can learn a great deal about our customers and use that to fuel better business decisions across leadership teams, product teams, and especially sales and marketing teams. Modern Marketers need to be able to leverage data to uncover who their clients are, by searching the data to find user patterns that lead to improved communication and product strategies. With the increase in Big Data, marketers will be expected to know more, but with the right data analytics strategy in place they can perform their research and implementation in less time but with more accuracy that ever before.
Semeon Analytics is here to help you make the most of your campaigns analyzing Facebook and Social Media data to fuel better business decisions! Contact Semeon to request a free demo surrounding your digital marketing strategy today!