5 Ways To Boost Sales With A Data-Driven Social Media Strategy
Data is the new oil. Hardly anything defined Facebook’s success more than its access to user data and its capability to turn it into advertising dollars. With that in mind, let’s explore how proper data use can help you boost sales through social media.
Five ways social media data can take your strategy to the next level
Unlike years past, driving revenue from social media now requires more than just boosting your top posts. Thankfully, many different data sources can help with this and there are techniques you can implement to improve social selling. One of which is by utilizing data to craft a better media strategy for your brand.
1. Improve data quality
It’s no secret that data drives most of our decisions in the social media world. Every day, social managers involved in the social listening struggle with questions like “Are positive sentiments towards our brand growing or going down?” or “Which age cohort is sharing our content?” The quality of the supplied data will define the quality of such decisions, the media strategy, and the correct understanding of data and trends, resulting in better responses.
The following five metrics define data quality:
- Accuracy: the data should correctly reflect facts.
- Completeness: a full range of data that is required to make a decision should be present.
- Consistency: the data should be consistent over time and with different datasets.
- Relevancy: the data reviewed should be relevant to the issue at hand.
- Timeliness: the data should be available at the time when making decisions and reflect recent changes.
When a media strategy is built based on data not fitting the above requirements, it can have disastrous consequences. As IBM estimated, the impact of using bad data in the US is $3 trillion per year.
In its recent update, iOS 14.5, Apple allowed users to block tracking and now requires them to explicitly agree to data sharing with apps such as Facebook for ad targeting. In this sense, having multiple sources of user data is becoming even more important. To get better-quality information, you should use all the available sources of robust data, including SEO. Read More…
