We live in a rapidly evolving technological age where digital data only continues to grow and build. ‘Big Data’ is a buzzword within the marketing industry as companies try to acquire massive pools of it. But, there is little value to ‘big data’ without ‘big analytics’ behind it. So, why bother increasing your data pool without ensuring the analytics are backing it up? Companies should strive to attain small data with high value, that is, using their current database to mould their future marketing strategy.
Instead of attempting to accumulate as much data as possible from more and more consumers, it’s the information that you can extract from your current data that will really help your company grow.
Quality vs. Quantity
Content should be driven by quality, not quantity. You should not count the number of likes you get but analyse what these likes may mean. The insights you can extract from your data should help shape your content strategy.
To put this in a social media perspective: would you rather follow someone who has 10k followers and blasts out meaningless content 5 times a day; or, follow someone who has 1k followers and posts personal, relatable, and stimulating content 4 times a week? The majority of consumers prefer micro-influencers rather than accounts that are deemed ‘influencers’ like the Kardashians.
Similar to quality, long-term content goals and strong relationships are imperative in the online marketing world. Shareholders may want fast, loud results but what is more important are the long-term relationships that you build with them. There is a middle ground. Frequent posts that span from high value/content to buzz posts (E.g. quotes, inspiration) to maintain engagement and quality.
Data is the key.
To unlock your full social media potential, use your data to find trends and audience segments. Who is engaging with your business? What do these people like, want, need? These are the questions that will bring forward a strong and engaging strategy.