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TURN YOUR DATA INTO INSIGHTS
WE SWIM IN A SEA OF DATA.
Taking that data and turning it into something that you can use is imperative. There are two main types of data: structured and unstructured. Structured data follows a specified format and requires processing to produce. Aggregated numbers/data points are a great example of structured data. Conversely, unstructured data doesn’t follow a specified format, but this is the individual data behind your structured data. This is text, tweets, photos that provide context to your structured data. Structured data provides you with the what is happening, while unstructured provides the why. Both are important for turning data into insights.
GLEANING INSIGHTS FROM VARIOUS AREAS OF DATA
INSIGHTS FROM OWNED CONTENT
Analytics can guide your team in a lot of areas in business, especially your content creation cycle. Data can help you give your fans the content they want. By efficiently tagging and tracking your owned content, you can identify traits in both the assets and copy you push out that resonate best with your audience.
Data can also help you with how you spend on ads. Tracking the performance of organic content can be the most efficient way to identify which posts your team should promote. It starts by setting a threshold of success for non-promoted content; then if any of your content hits this, throw paid ad spend into the mix.
INSIGHTS FROM SENTIMENT
Sentiment can be tricky, but it really shines in showing you how to adapt, what your strengths and weaknesses really are, and where you stand. As much as sentiment tools are evolving, these are things that can really only be gleaned by human review. Knowing your brand has a 60% positive sentiment ranking provides little insight. Knowing that the reason your brand has that sentiment score is because of excellent customer service helps you decide to put more resources into customer service. We share more on this on our blog.
INSIGHTS FROM YOUR INDUSTRY
Another strong way to analyse marketing performance is to compare earned conversation or owned content against industry benchmarks. While for content performance this can be incredibly in-depth to set up, when it comes to social listening, this can be quite easy. Instead of looking at brands or products, look at the industry they appear in; this way you can see general uplift or falls in a certain sector and then compare this against your own performance.
While paid follower growth is easily explained, unfortunately, organic growth can have many factors. Followers can be drawn from product releases, news stories and even product sales. While it’s difficult to directly put your finger on it, comparing daily new followers and overall mention volumes can quickly lead to a potential story. You just have to compare the patterns. What coincided with the increase? What was different for that time period?
Losing followers is somewhat different. It’s not necessarily as negative as some might think. An unfollow doesn’t always signify negative sentiment towards a brand. It might be a reaction to owned content which has not chimed as well with its intended audience. Using this data is another way to recycle insight back into the content creation process to better speak to your audience.
INSIGHTS FROM FOLLOWERS
Measuring social listening against competitors allows your brand to gain better insight into peaks and troughs, as a big drop in mentions might not have the same effect on your overall share of voice. Instead, this drop might actually represent an increase in brand awareness against competitors. Likewise, a big rise might not be as beneficial, as your mentions may have underperformed comparatively.
Keeping track of how your share of voice has changed against competitors can be the best way to look at performance rather than focusing on the absolute volume of mentions. This provides much more context. Brands can suffer from being handicapped either by competitors being used as generic terms (i.e. “GoPro” being a verb) or even other brands being in off-topic conversation (i.e. Nikon cameras being used as prizes in spam tweets). As such, looking at how the share of voice increases or decreases against competitors may have a better way of showing how your brand is actually performing.
INSIGHTS FROM COMPETITORS
INSIGHTS FROM OVERALL CHANGES
A peak or dip can provide important info. These movements represent a sudden change in measure, and changes are what you really want to pay attention to. For more on this, our previous white paper might be helpful.
DON’T FORGET CONTEXT.The key to turning data into insights is to view the structured data and then drill down into the unstructured data for the why. The combined interaction will allow you to know what is happening and why — then you can decide where to go from there.
A BIT ABOUT BUZZ RADAR
BUZZ RADAR IS AN INDUSTRY LEADER IN CAPTURING AND VISUALISING REAL-TIME DATA AND CONTENT.
We make social data simple, engaging and powerful -- faster than anyone else. Real-time data helps you spot emerging trends and react quickly to feedback. Whether a brand, agency or event planner, we can help you unlock your data, quickly interpret it and broadcast it better.
