Here’s How to Handle Data From Social Media

Here’s How to Handle Data From Social Media

Data is the decision-maker’s friend – until it gets overwhelming.

The rise of social media as a marketing tool is a case in point. Social media programs can generate all the data you’d ever want.

How you handle that data determines how well it serves you. That’s where the dashboard really shows its worth.

Remember, the dashboard is designed to present data in an actionable format. This means consolidating the important results into meaningful categories.

In the case of social media, it’s often best to channel the data into one or more familiar categories, in order to help you focus on the big picture – rather than getting caught up in the race for ever-larger numbers. This also helps you to communicate the significance to corporate executives, who won’t be as familiar with the ever-changing terminology, and really are primarily focused on results.

Let’s take the purchase funnel as an example. Most executives are going to be familiar with the concept of a purchase funnel, and how it is used by the company’s marketing department.

Broadly speaking, the purchase funnel may include these categories:

• -       Awareness
• -       Opinion
• -       Consideration
• -       Preference
• -       Purchase
• -       Loyalty
• -       Advocacy

And the goal, of course, is to fill the funnel with more qualified prospects, and drive those prospects through the “narrow end” as purchasers.

Social media certainly can help to raise awareness, getting more prospects into the funnel, and help to generate positive opinions, drive consideration, cement loyalty, etc.

Assign your social media data streams to the levels that are most appropriate. Then you’ll know which funnel elements you are supporting, and to what degree.

For example, some social media programs will be designed to raise awareness. Others will try to build loyalty among existing customers.

By improving performance at each level of the funnel, you are delivering real value. Measure and report that value, then hold your programs accountable.

The payoff will be in the bottom line.