Data is key to understanding who buys your products and what they like.
According to Yuval Ben-Itzhak,CEO of social media marketing agency Socialbakers data should be the backbone of social media advertising.
“Today, it’s crucial that marketers are making data-driven decisions with their advertising budgets,” he said. “Not knowing how your content will perform and investing in posts indiscriminately, could mean you might be wasting half of your advertising budget - but which half?
“Content grading can help ensure that the quality content you do promote is achieving optimal engagement, improving cost efficiency, and maximizing your budget,” he added.
Social media platforms can also be used to harness data. Reay recommended companies grow their permissioned database by encouraging social media users in to sign up through competitions, offers or exclusive content.
“Social media platforms also support lead generation features without users having to leave their environment. Collect both implicit and explicit data to learn more about individual and trending preferences. These can support not just communications but also product development.
“You often only hear from people who’ve tried your product when something goes wrong, or occasionally when things go really well, but what about everyone else? Try to get feedback on what the majority of people think so you’re not swayed by the extreme views.”