Social data and media planning? How can a media strategy benefit from insights extracted from social data? In the coming weeks we'll talk about how audience analysis and consumer insights can be key to the media strategy of any brand.
The first stage of our tour begins today and involves identifying the target market. Later, this audience is analysed, which influences the choice of media strategy used to reach the specific audiences and finally the performance of these actions is measured.
The process of identifying this target market or target audience is simple, fast and efficient, and also requires a much smaller investment than other systems. We can choose two paths, which are not mutually exclusive and can even be combined: define the audience based on previously established criteria or discover the audience from defined brands and/or products (for example, the competition).
The advantages of this approach are that there is no dependency on data that the company already has (CRM, customer journey, etc.) nor is it based on anonymous data packages (for example, navigation cookies). In addition, these audience identification systems make it scalable in order to reach real people that can easily be grouped together.
Define the market based on established criteria
In addition to the traditional sociodemographic criteria that are used to define target audiences, social data provides marketing professionals with another set of criteria which is highly relevant when identifying audiences: from the social graph (the relationships that exist between users) to personality traits, interests, online behaviour, conversations they have participated in, or even how people define themselves, as we can see in the example below.
In this case, fathers and mothers in New York have been identified.
Identify the audience based on products or brands
The ability to identify superfans of a particular product or brand is one of the possibilities that social data offers. The audiences of competitors can also be identified. It's even possible to identify those who have interacted with the brand itself or the competition.
The example below shows how the target market has been defined for the brand McDonald's by identifying the followers of McDonald's, its competitors' followers and those who have mentioned McDonald's and its main competitor (Burger King) during a specific monitoring period. This type of analysis also allows us to understand how the total audience is divided among the different brands and what share of the social market each has.
Once this target market has been identified, it's time to analyze it in order to obtain consumer insights that will help us make the best decisions for the media strategy. But we'll talk about this in the next article. In the meantime, why not request an Audiense demo and start identifying your target market?