Why Brands Should Control Their Social Data
When it comes to running a successful business, the use of social media should be a part of routine business acumen by now. It is vital as a means of marketing evolution, and it also serves as a quality method to fully branch out to audiences of all ages and demographics.
Building a strong social media strategy should be considered a primary objective when addressing the growth of your business. It’s cost-effective, for starters. And of course, it’s how many of your core-audience recipients communicate.
There are business owners who comprehend the importance of social media. But they must understand that knowing your social data is important — beyond important.
It’s 2018, and there are still those business owners who have yet to establish proper protocol in taking full responsibility of their social data — if, for nothing else, the good of brand management. Gone are the days of simply managing agencies and looking for the big advertising media buy. High-end reps and managers should be reaching customers using real-time information and immediate-feedback steps, and marketing strategies should be thought of on next-level stratospheres. Social media, nowadays, should be considered ground-level tactics.
Why is it so important for brands to control their own social data? Here are three simple answers to consider.
Control equates to accuracy
The last thing you want as a successful company is to have inaccurate information with your marketing perspective. Having control of your own data helps to make sure all decisions are not only kept in house; it also shows partners that you are taking an active role in your own brand marketing, which looks good revolving accountability.
According to an article by Chief Marketer, transparency is key. Without accurate data, brands “can’t make truly informed decisions or have accountability of the vendors in their supply chain.” Having full control of social data answers all of the aforementioned.
Importance of product strategy
A brand is worthless if it isn’t built using a great strategy. You need a blueprint that is customer-driven. A good product strategy will zero in on several target audiences, which will then lead to the attributes of those customers needed for the brand to be successful.
With every product strategy, there are goals to be made (and obtained), a vision or mission that will guide your team in reaching those goals, and the playbook of the actual performance effort. Put all those together, and it will lead to a solid product strategy. But none of that is possible if the consumer is viewed as secondary and not the primary voice.
The best marketers will collect and use customer data every day. Safeguarding that data is more important now than ever. It is a major responsibility for companies to keep breaches at a minimum and to constantly remind themselves that their customers deserve to be treated with care.
Data breaches are on the rise, and these can be a terror for business and consumers. Breaches can be detrimental to a company’s brand if a customer loses the trust of a business.
Taking control of social data means safeguarding customer information. Leaving social data in the hands of someone outside of your company could mean having to explain a bad situation by a third party. Data ownership is vital; marketers should know everything going on analytically, as it can avoid a very messy situation all in all.
Controlling your social data needs to be seen equally important as anything else related to growing your brand. Data ownership keeps you in full control, and with that, your social advertising initiatives, tag-teaming with the in-house analytics of the data acquired, can make for a powerful success story.