Marketing’s Move to Predictive Social Analytics at the Social Media World Forum (#SMWF)
Looking back at the Social Media World Forum (#SMWF) in London, it’s clear that real-time engagement and listening were a major focus of many of the keynote and breakout sessions. This is why the Social Business breakout session “The Move to Predictive Social Behavior” was so important – rather than focusing on today’s current (and waning) trend of real-time monitoring, Viralheat CEO Jeff Revoy and DT-HBS CMO Paul Sebastien gave insight on the next big thing in marketing – the move to predictive social analytics. While the rest of the world is still focusing on real-time engagement and listening, we advise that you hop on the predictive analytics’ fast track to identifying hot leads and increasing conversions and sales.
Real-time is too late
There used to be at time where real-time monitoring led to fruitful results… but that time has passed. Consumers are finicky and can change their minds in an instant. Take Joe, for example. Joe is feeling extra tired this morning and tweets “I could really use some #coffee.” A nearby coffee shop sees his tweet an hour later and offers him a discounted cup, but it’s too late. Minutes after tweeting Joe grabbed energy drink while he filled up his gas tank.
The problem with real-time today is that it’s too late. By the time you’re notified of a potential lead, that consumer has likely lost his or her purchase desire or gone with a competitor, making your promotions or efforts of reaching out irrelevant.
Viralheat CEO Jeff Revoy and DT-HBS CMO Paul Sebastien at #SMWF Europe
The Move to Predictive Social Analytics
So how do you solve the problem of real-time irrelevance when it comes to social media marketing? By turning to predictive social analytics. Social media is a ripe stomping ground for people to publicly share facts about their personal lives. From countdowns to #movingday” or “#graduationday” to announcements of “#imengaged” or “#isaidyes”, consumers are constantly providing information that allows businesses to predict buying behavior by announcing definitive events that require specific products or services.
Using predictive behavior analysis (by monitoring specific keywords) allows brands to locate users who have definitive purchase intent before they need to make a purchase decision. In doing so brands keep their messaging relevant, high quality, and likely highly converting.
3 Keys to Successful Social Media Marketing
Now that real-time monitoring is out and predictive social analytics is in, how do marketers embrace the change and implement it into their current social media marketing plans. According to Revoy and Sebastien, it all comes down to 3 key steps.
- Identification – When is a user truly a prospect for your product? Social insights give you a better picture of the right buyer personas.
- Targeting – When is someone really in the market for your product? Predictive social analytics identifies hot leads based on their social behavior (#movingday, #imengaged).
- Measuring – Take the data you’ve collected and apply it back to conversions. This is seamlessly done with the ability to export social insights into your other enterprise applications (CRM, Marketo, Google Analytics).
Now more than ever, it’s critical that companies truly raise their game in terms of marketing on social media. Get ahead, and stay ahead, of your competition – move on from yesterday and invest in predictive social analytics today.
*You can find the slides from Revoy and Sebastien’s #SMWF session here.
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