The availability and accessibility of internet has added to the popularity of social media platforms. According to latest statistics, the current world population stands at around 7.7 billion, out of which 4.2 billion people have access to internet. The statistics also claim that social media is experiencing a surge in the number of users on a daily basis, currently with almost 3 billion active account holders.
Social media steered information age has discerned data to emerge as an essential module that drives enterprise’s success or failure in the competitive market. This has prompted enterprise owners to take advantage of big data solutions while designing their social media marketing campaigns.
Some benefits of big data analytics in social media marketing include:
Social media platforms allow enterprises to recognize and target selected group of people for promoting their product or service. With big data analytics, brands can conduct evaluation of available data and use the respective platform to engage in individualized and personalized marketing for surging sales. According to experts, the concept is trending and will become widespread in the near future.
- Predictive Analysis
Predictive analysis involves evaluation of historical data and facts that aid in making near to accurate future predictions. It is becoming increasingly popular as it allows enterprises to identify common customer behavior and enables them to develop efficient marketing plans with a wide scope of improvements. With predictive analysis, enterprises can use the information to target potential customers and increase conversation rates.
- Product Development
Multitudes of collected data helps enterprises to understand customer needs and requirements better. Big data analytics provide better insights with regard to consumer preferences and choices, buying habits, grievances, and complaints. Thus, enterprises can use these insights for designing an innovative product or service, especially catering to their target audience.
- Decision Making
Big data analytics aids brands in the identification of social media trends and patterns which can be further used to make improved decisions. It makes the understanding of consumer sentiments easy, which provides an enterprise with an upper hand over its competitors and enables it to develop winning strategies.
The expansion of social media platforms and increased number of users has caught the eyes of modern-day enterprises as they have identified these platforms as potential domain for promotion and customer base expansion. According to the best big data service providers, almost 91% of retail enterprises use two or more social media platforms while almost 81% of small and medium size businesses use at least one social media platform. This justifies how leveraging the big data services offered by globally recognized certified consultants can help enterprises make more informed decisions and generate higher revenues.