Every business has a plethora of data from many sources throughout the business; that should be useful to influence ‘next steps’ when it comes to product or service reviews; also determining which new products to add in future. But what do you do with it?
Social media and the digital world can be a daunting place particularly if it’s not what you do.
We have a simple business approach which is to ‘use what you have to give you what you need’. Typically, our support covers as much or as little as you feel is practical, which we establish and agree together with you.
Using Analytics to support Business Decisions
As most of us know many platforms come with integrated analytics - from your own website, social media platforms (Twitter, Facebook, Instagram LinkedIn or as relevant to each business) through to sales / outlet platforms – but what is the best measure and how can you use this information effectively?
Data can tell you about response to your product / service, your audience / potential customer – but by having a clear expectation you can measure take up, interaction and understand interest. This can include Age, Gender and Location.
Data can also tell you about the how you were found - either by using search-engines via a question or by directly searching by name or by coming to your website via a social media link.
Our approach is to manage all available data, combining the results into a single report on a regular basis. The results can also influence the content we post on behalf of our clients on an on-going basis. However, for many we produce a combined report on a monthly basis, often flushing out timely suggestions, competitor observations and other ideas which otherwise may have been overlooked!
Using Social Media
Each social media platform is slightly different and needs to be managed accordingly (there’s no point posting the exact same post on each platform as number of ‘characters’, use of Hashtags and your audience differs). The key numbers are the ‘reach’ or impressions not the likes, but of course engagement is ‘key’ to influence further reach etc.
It’s clear to us there has been a notable change in how people engage with posts. People scroll the newsfeed all the time – but what makes them resist posting a ‘comment’ or a ‘like’?
Some example thoughts and feedback we’ve received - Why do you hesitate to ‘like’ or ‘comment’ on your posts:
- Their opinion will be exposed to your/their network
- Their comments may appear in the newsfeed of their own connections and they are afraid of upsetting others with their opinion
- They may be criticised for their opinion
- Their opinion may be taken out of context and used against them
It’s one thing to have a ‘feeling’ about your business, but analysis may prove a different point of view
- You feel people like what you have to say
- You feel people are interested
- You feel engaged with people
- You feel euphoric and happy you have touched someone
- You feel you have common ground
Analytics will either support your feelings or give a different perspective as part of the overall conclusion driven by facts
Create an essential check list for your product or service
Some simple but highly effective strategic steps
- Consider your product or service and what people may not know about it
- Define the mission - what is it you want to achieve then measure this meaningfully
- Define your audience, create a profile of your customers
- Track the actuals and review carefully
- Measure the benefits through share of voice – not cost per action as this is a campaign.
Be clear on what is ‘product’ marketing and ‘brand’ marketing - you need to develop your brand via product interest initially then change as your share of voice increases
If we look at this as a set of opportunities you can begin to build a data based factual analysis of what your intended recipients are interested in, their particular approaches and make up.
These are often referred to as Goals or fundamentals – in short, they are ‘what we want to achieve’.
In the Social media arena, they have ‘terms’ to describe the output.
These headings are:
Traffic. How many blog or website visitors did you receive from social media?
Engagement. How many likes, clicks, and shares are your posts receiving?
Conversions. How many blog or website visitors are completing conversion steps?
Some fundamental strategic questions to begin:
Who do I want my customer to be? Am I talking to them in a way they appreciate?
Are the persons responding my target customers, or am I reaching others?
If we are reaching others why? And can we offer them something of benefit.
Taking this forward into a measurable activity need not be shrouded in mystery. However, it is essential that the findings (data) are interpreted correctly.
How to do this?
There is much discussion on this subject; but our suggestion is to create a ‘target customer’ in detail to create a target profile. Then, measure how well you ‘digitally’ speak with them. This approach helps to avoid the ‘Vanity’ and concentrating on the ‘meaningful’.
This creates a set of metrics that are relevant, meaningful and Timely.
It is not to measure how much you spend – but how WELL you spend!!
There are multiple metrics; but one we would suggest is perhaps the strongest but not necessarily the easiest to influence is ‘share of voice’
Without getting too deep into the subjects - marketing is about communication of your product or brand. Simply put; Product Marketing is centred around creating a bespoke interest and demand, whilst Brand Marketing is to create loyalty and higher consistent value.
"Share Of Voice"
To understand your effectiveness, it is essential to understand your share of voice (what’s being said) this is comparing what you do as a share of the overall conversation. If they are not talking about you, are you talking to them effectively? An obvious point is you may be contributing to the discussion on your subject but are inadvertently benefitting your competition. A common mistake is to say our campaign is not working – so stop!!
We say definitely stop benefitting others but spend time ensuring you say the right thing to the right audience at the right time.
It’s therefore necessary not to be overt and maintain positivity with your posts
How we work
Firstly we want you to feel comfortable with us - we don’t charge to talk to you!!
A little about us - we are a Husband & Wife business consultants, here to support you with sound business advice, practical help and confidentiality all supported by years of real-world experience.
We will listen and help you develop what you want to achieve so it is based on meaningful not vanity - after all, business has to have focus and fun.
We have several packages to suit all needs - we will explain them in detail as they are targeted to support your ‘NEED’ not our needs.
In addition to the Digital support side we specialise in helping you grow in a structured and profitable way. We can discuss as we go along.
To support successful growth, we offer ‘mentoring, coaching and assistance with all sorts of business elements - we are your partner and such will always be realistic on what will be attained over time.
Want to know more? Contact us for an informal chat to see how we might help