Why Owned Data + Social Intelligence Are Poised To Transform 1:1 Marketing
It wasn’t long ago that companies were trying to decide “if” they were going to embrace social media as a discipline. As Social Media Examiner reports, 97 percent of all marketers are now using social media to promote their business. With a percentage so high, it’s clear we’ve moved well beyond the decision of “if”.
The next chapter in social media for marketers was the focus on tracking and gathering as many likes, followers and fans as possible. While this made for some visually compelling internal growth charts, marketers quickly realized it didn’t help them prove the value of investing in social.
Today, more marketing teams are adopting sophisticated practices of measuring consumer advocacy and brand health. These marketers are generating tangible business results from social media, including increased revenue, reduced customer care costs and predictive modeling. With this progress, one may think we are entering a new status quo for social intelligence. After all, every day there is a new success story of a brand that leverages social analytics to find new target audiences or identify the next game-changing product innovation.
Just as marketers are getting comfortable, they have come to realize their current success with social intelligence is yet another brief chapter setting the stage for the next big social media period: Owned Data.
In the quest for true 1:1 communication, social media is playing a highly disruptive role. While marketers have spent nearly 20 years talking about 1:1 marketing and customer relationships, social media has shown the value to real-time consumer communications.
This disruptive role of 1:1 social communication, however, doesn’t fit cleanly into traditional consumer and media measurements, doesn’t operate in a controlled time frame and isn’t part of the standard customer record. The reality is that social media contains much more tangible value toward 1:1 communication and market knowledge than any predictive demographic or transactional model.
So how can brands marry the speed and richness of social with other important consumer generated content? By tying social data with owned data in a synergistic method, a challenge that market leaders need to tackle today.
The first step is linking social data with owned data in the form of survey results, brand specific community conversations, database records and more. The owned data may be a customer record that now includes social profiles and interactions, surveys and forum data generated by marketing interaction or records of cross channel communications including phone, chat and Twitter. In all cases, the social and owned data provides the brand and business with richer, real-time access to critical information to run their business, support their client and engage in the market.
In this model, social intelligence provides a real-time mechanism to show immediate and authentic consumer thoughts and perceptions, integrate a more complete picture of the consumers that make up the market and provide guidance on outreach and engagement across all communication and marketing channels.
For example: A retailer with access to an enormous amount of transactional customer data can use social intelligence to find an instant pulse on a planned retail program – such as a holiday layaway campaign – to see how customers react to the overall concept. This data can include assessments on the individual details of the program before rollout and its impact across target profiles identified in their customer forums and social sites. This comprehensive viewpoint gives the retailer an opportunity to make any changes quickly and improve ROI.
Internally owned data alone cannot achieve these results, and social intelligence and engagement in a silo won’t fare much better either. Together, the power of these two forces creates a powerful alliance and the power behind effective 1:1 communications.
The disruptive influence of social media not only introduced new sources of content, communication and timeliness for marketers, but it changed the dynamic and value of traditional data records and sources when used in combination with social intelligence. Successful marketers will still need to present great products and services, but with an integrated social media and owned data solution, they will be enabled to deliver exceptional ongoing results.
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