Brands leveraging only demographic, geographic and psychographic information about a consumer is dead. This type of information is certainly powerful to gain insight into your consumer, but my belief is that this is only the tip of the proverbial ice berg.
While studying direct marketing at NYU in the late 90’s this information was the holy grail of marketing. Today, it’s no longer the case. As social media has become ubiquitous the manner in which people interact with each-other is now available. This information is certainly more powerful, and more telling to a large brand regarding the consumers likes, dislikes and potential purchasing habits.
I’d argue that the more compelling information that’s available to a brand is who are Network Neighbors. These network neighbors are consumers linked to a prior consumer. They adopt a service at a rate 3-5 times greater than baseline groups selected by the best practices of the firm’s marketing team. Analyzing the network allows the firm to acquire new customers who otherwise would have fallen through the cracks, because they would have not been identified based on traditional attributes. – Statistical models, built with geo demo and prior purchase data are significantly and substantially improved by including network information. More sophisticated network information allows the ranking of the network neighbors so as to permit the selection of small sets of individuals. with very high probabilities of adoption. As a traditional direct marketer within the Social Media world, this is very exciting. This is why every brand needs to be engaging with their consumers in Social Media.
Pages are becoming more and more an essential part of major brand’s Social Media Arsonal. Facebook has recently allowed brands to increase the breadth and depth of information available on said pages. Essentially these pages (if developed and tracked properly) can become micro-sites assisting in all marketing efforts for a brand. They’re easily modified, appropriately engaging, and at times can become the central hub of information or PR for major brands.
Because you cannot track how many “fans” you have on your page, brands should look to alternate ways to track success of a page. Firstly, ALL brands should have a page presense. If you don’t I can almost guarantee that one of your customers has already taken the liberty of starting a fan page, and or (worst case) and negative page about your brand. Once your page has been launched, your message and voice conveyed appropriately you must of course have a media dollars to help support the page. If you build it, unfortunatly they don’t always come.
- Number of Fans
- Active Users – Total users that interact with your page over a specfic time frame, usually per day, week, month.
- Fan Profile – mining the information about the fans of your page can offer optics into a consumer base you may have never tapped into before.
- Unique user reach – percentage of those users that have become a fan among the total social media audience (or calculated as active page users per audience)
- Growth – Average numer of users within a specific time frame
- Influence – Average number of friends among each “fan” of your page
- Number of pages your fans are also fans of
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Posted by Christopher Dessi