Five years ago, not everybody could have foreseen the huge role social media would play in marketing today. Today, almost any brand realizes the importance of social media and either has or is working on a social media strategy. Some brands were among the early adopters and have taken a head start in social marketing, while others are still trying to figure out the best way to incorporate social into the marketing mix.
But social media are not like traditional media and require a different approach from a marketing point of view. It’s inherently interactive, and ever-evolving. Social media is more than ever about the relationship between customer and brand. This does not only take a different kind of communication, but also a different kind of data analytics. Social media are a potential source of a wealth of consumer information, but the question on everybody’s mind these days is how to get the best information from this vast pool of data.
The CMO Council report ‘The Social consumer Brand Compatibility Model‘ introduces a new way of analyzing social media data:
Social Consumer Brand Compatibility modeling is an emerging area of marketing science that seeks to navigate the mountain of social media data and take-away insights regarding customers and their interests. By analyzing posts, ‘likes’, and rich media content sources from Facebook, Twitter, YouTube, and other social networks, brands can glean richer information about media consumption, psycho-graphic, lifestyle, and personal interests. [...] Social data delivers heightened insight, allowing marketers to improve media selection and buying, as well as the relevance, resonance, and response of ad and promotional buying.