Statistics and sampling are an amazing thing. Even if, like me, you have a healthy scepticism about the way that data is analysed and interpreted, it is difficult – if not foolhardy – to downplay the inevitability of data. Just look at the various disputes around the veracity of climate change – where statistically irrelevant interpretations have derailed important decisions, changes and commitments. Eventually, even the hardiest data curmudgeon will need to yield to the truth of the climate science data – perhaps only as their seaside apartment is swept into the arms of the sea. For though there may be outliers and anomalies in the data, sampling – where carried out correctly – can yield tremendously accurate insight. As Margaret Rouse explains on the TechTarget website:
Sampling allows data scientists, predictive modelers and other data analysts to work with a small, manageable amount of data in order to build and run analytical models more quickly, while still producing accurate findings. Sampling can be particularly useful with data sets that are too large to efficiently analyze in full — for example, in big data analytics applications.
And it is sampling that makes Twitter one of the more fascinating social networks and big data stores of our time. While Facebook grows its membership into the billions, its underlying data store, its connection and interaction architecture and its focus on first tier networks also limits its capacity to operate efficiently as a news source and distribution network. Twitter on the other hand, with its 200+ million members, provides a different and more expansive member engagement model.
During our recent forum presentations on the voice of the customer, Twitter’s Fred Funke explained the view that Twitter was “the pulse of the planet”. Using tools as simple as Twitter search or Trending Topics, Twitter users can quickly identify topics that important to them – or to the broader local, regional and global communities. And, of course, with the new IBM-Twitter partnership, there are a raft of tools that allow businesses to go much deeper into these trends and topics.
In doing so, however, we have to ask. What are we looking for? What information will create a new insight? Which data points will reveal a behaviour? And how can this be framed in a way that is useful?
Five Buyer Insights that Drive Engagement
Just because interactions are taking place online doesn’t mean that they occur in isolation. In fact, our online and offline personalities are intricately linked. And as the majority of our digital interactions take place via text, linguistic analysis will reveal not only the meaning of our words but also our intention. Some things to look out for and understand include:
- Buying is an impulse: As much as the economists would like to believe we act logically, we know that buyers are emotional creatures. We buy on whim. On appeal. On impulse. And there is no greater impulse these days to share an experience (good or bad) via Twitter. Look particularly at the stream for comments tagged with #fail. It is full of opportunity for the responsive marketer keen to pick up a churning customer having a bad customer experience.
- The customer journey is visible: While we are researching our next purchase, digital consumers leave a trail of digital breadcrumbs that can be spotted using analytics software. For example, we may tweet out links of videos that we are viewing on YouTube, share blog posts related to our pre-purchase research and even ask directly whether a particular product lives up to the hype. Just take a look at the #lazyweb stream around the topic of Windows10.
- Understand the pain to optimise the opportunity: When engaging via social media, it is important to understand the challenges or “pain points” that your customers (or potential customers) are facing. Rather than spruiking the benefits of your own products, focusing on an empathetic understanding of your customer’s needs more quickly builds trust and is grounded in a sense of reality. The opportunity with social media is to guide the journey, not short cut it.
- Case studies build vital social proof: No one wants to be the first to try your new product. Showing that the path to customer satisfaction is well worn is vital. Use case studies to pave the way.
- We buy in herds: Mark Earls was right. Not only do we want social proof, we prefer that proof to reflect on our own sense of belonging to a group or movement. Remember that we go where the other cows go, and structure your social media interactions accordingly.
The folks over at eLearners.com have put together this infographic on the psychology of Twitter. They suggest that we tweet for love, affection and belonging. It may be true, but sometimes we just also want to vent. And every vent is a market opportunity.