It’s no secret that increased social media participation has given B2C marketers unprecedented access to customer data. With just a customer email address, the right “data crawler” goes through blogs, networking sites, video sharing sites, and other social media outlets to report on a customer’s age, location, gender, social site participation and more. Collect this data for thousands of customers and you have some potent information.
In our conversations with marketers, we’re coming across a variety of creative uses for these data sets. At the most direct level, marketers are using social data to choose the best social media sites to invest in. Some are discovering that their customers are spending time on social sites they (and their competitors) weren’t aware of—and are moving quickly to capitalize on these undiscovered opportunities.
Beyond these direct applications, some marketers are using data to test, map and extend the viral reach of their social media initiatives. Insights about viral reach are becoming key building blocks for marketers to make the case for social media internally.
At a more complex (and potentially far more powerful) level, marketers are combining social and transactional data to build predictive profiles of high-value customers. They are finding that the revenue or cost-to-serve dynamics are quite different for customers with different social graphs. A recent BusinessWeek article about online friendship connections touches on one example of this: a person is actually a better credit risk if their friends’ credit scores are higher.
How are you using social data in creative ways?
MLC Members, For in-depth examples of social data applications, check out our Marketing Use Cases for Social Media Data.