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Practical Ways To Target Data Science In Social Media Marketing
If you have noticed clearly, online information consumption has improved drastically over the past decade. According to the researches, more than 6 billion devices are connected to the internet & the count is just rising up with every passing minute. You can imagine how massive would be the amount of data that is being generated in a single day.
Well, the ones who can be greatly benefited from this enormous level of data that is being generated on a day-today basis are the marketing professionals. This massive amount of data is like a gold mine for the marketers. This data can help them towards accurately targeting their customers if analyzed & processed accurately. There’s no doubt in saying that this would be one among the most complex or rather highly critical task to accomplish. This is where Data Science comes to the play.
Let’s have a look at some of the most practical ways in which Data Science can help in Social Media Marketing
- Marketing Budget Optimization
It’s a well known fact that the major aim of any marketing plan is to derive maximum ROI from their allotted budgets.
Through the application of Data Science models Data Scientists can carefully analyze marketer’s spend and acquisition data. The information generated would help the marketers to strategically distribute their budget across locations, channels, mediums, and campaigns to optimize for their key metrics.
- Marketing To The Right Audience
Previously, marketing campaigns are broadly distributed irrespective of the location and audience. This not only leads to wastage of budge but also proves to be less effective in achieving the desired goal.
With the advent of Data Science it has become possible for the marketers to understand which locations and demographics are giving them the highest ROI & this means they can possibly avoid targeting all other locations & demographics that aren’t of their interest.
- Pricing Strategy
Pricing strategy is another such area where marketers can be greatly benefited with Data Science. By carefully analyzing their individual customer data they can attain a clear idea on their preferences, their past purchase history, their economic situation & several other aspects. By this marketers can get a clear idea on what drives the prices and the customer’s buying intent for each product segment.
Apart from this there are several other aspects in which Data Science can help in marketing like Identifying the Right Channels, Matching Marketing Strategies with Customers, Customer Personas and Profiling, Improving Customer Experience Using Data and many more.
Get to know more about such interesting applications of Data Science by being a part of Orien IT Data Science Training In Hyderabad.