A number of recently emerged trends in marketing communications made me think of how much value social media could bring to brands in terms of location-based customer insights.
- Companies increasingly enhance their personalization efforts. Without access to the right kinds of big data, efforts to drive revenue through personalized advertising are likely to be meaningless.
- Consumer adoption of mobile technologies has introduced the potential for location-based targeting. Gaining access to geo-social insight on consumers will be critical for organizations who hope to take advantage of this trend.
- Todays consumers are more informed and connected than ever before. In the era of social media brands should rethink the way they interact with their customers. Now companies need to follow their multiple customers on social networks in order to understand their behaviour and preferences better.
At InData Labs we see social media data as a great source of geo-social insights on modern customers. Big data technologies let us analyse tons of social media data and understand who says what and where.
To see how many location-based insights social media could bring, you can see the interactive map of Hong Kong that reflects life in the city through the lense of Instagram.
If following the entire city on Instagram is possible than world’s leading brands can follow all their numerous customers on social media as well and get the level of consumer insight required to reach their business goals.
What brands can discover from Instagram profiles of millenial customers? Interests, their favourite places and brands. More information, like age, gender, nationality, income, closest network and what is trendy within the network at the moment, could be revealed by predictive algorithms. Thats a lot! The information is a treasure that could enrich any CRM. Social media data can help brands discover trends and patterns that underlie consumer response and behavior by understanding not just the who and what but also the why and where.
