David Barker, CEO
According to the latest market statistics, over 3.6 billion users actively engage on social media for approximately two hours every day. Inevitably, it is becoming a hub for marketers to ‘listen’ to their target audiences and observe the latest trends that attract consumer’s attention. And although this ‘social listening’ approach is enabling marketers to understand the messaging or topics that are resonating with a specific market, they do not give a full understanding of who their audience is—be it their individual and varying passions, personality traits, media consumption patterns, demographics, key personas, and general sentiment.
That’s where StatSocial—a leading provider of social audience insights—enters the picture. By leveraging its Silhouette™ platform, the company is empowering marketers to go beyond just social listening and bring the social audience into more traditional marketing activities, including market research, attribution, and targeting. Unlike the conventional social audience platforms that only draw insights from a single social media channel (e.g. Twitter), StatSocial gives marketers the ability to draw actionable insights from multiple social media platforms to gain a holistic picture of their audience. Thus, marketers who until now simply monitored social media for engagement, or could only capture a fragmented view of their audience, can now go a league further and gain a true understanding of who they are and what motivates them to make purchases. These insights, in turn, can help marketers in creating highly targeted campaigns and turning them into loyal customers.
Interestingly, StatSocial’s patented ‘Identity Graph’ (a database storing all identifiers that correlate with individual customers) maps over 1.3 billion public social and community accounts across more than 300 million verified identities. An added benefit to StatSocial’s identity verification is that it eliminates all bot accounts from its analysis to avoid skewed insights.
Launched in 2021: The Missing Link in Marketing Attribution
“When marketers calculate the value or ROI from the various paid media channels (television, web, digital), they often overlook the non-paid (earned) organic engagement on social media. This has long been the missing link for marketers,” says David Barker, CEO, StatSocial. A reason for this is that most paid media campaigns can also measure sales lift or other key KPIs. In contrast, organic engagement on social media has always sat apart from the rest of the marketing budget because there was never a way to tie social engagement back to real business outcomes.
Marketers who until now simply monitored social media for engagement and trend insights can now go a league further and gain a true understanding of who their audience is and what motivates them to make purchases
But StatSocial is changing all that with its industry-leading audience insights platform, Silhouette. The reliable social audiences procured from StatSocial’s rich database of 300 million verified individuals can be overlaid with third-party systems such as CRM or attribution tools and also used for a broad range of marketing activities such as data enrichment, influencer attribution, and high-performing cross-channel campaigns. “Since our solution can capture audience insights across major social media platforms, we can provide a more holistic picture of who a person is based on their social interactions,” mentions Barker. And, since StatSocial does all this in compliance with California consumer privacy act (CCPA) and has been third-party certified, clients can rest assured that they are always in line with the latest data regulations.
Illuminating the Path of Success for Marketers
StatSocial’s recent collaboration with a leading consumer-packaged goods (CPG) firm clearly illustrates what social audience intelligence can really bring to the table. With the intent of expanding its brand presence, the CPG firm had partnered with several major influencers and athletes to promote their products to their loyal online following, but without an efficient method of determining their ROI from these partnerships, the CPG firm decided to avail the services of StatSocial.
Initially, StatSocial began by capturing insights of the people consuming the content shared by the CPG client’s partners. With the ability to identify the verified identities of those that had been potentially exposed to or engaged with the influencers’ social content, the client was able to overlay third-party purchase data to determine overall sales impact. StatSocial data also made it possible to identify the exact ROI driven by each influencer, so the CPG client could efficiently govern which influencers could deliver the highest returns for them. Somewhat surprisingly, it was found that some of the influencer campaigns drove 300 percent greater ROI than traditional paid media. The client, as a result, optimized their partnership with the right set of influencers and has decided to double down on influencer marketing.
What’s Next for StatSocial?
The company’s move toward geolocation and purchase data insights, combined with new partnerships with leading market research companies, will further bolster its position as a one-stop shop for marketers looking to understand the value of and take action on their earned and social audiences. While making these strides, StatSocial will also focus on adhering to the GDPR and other data privacy norms across the U.S. and Europe. “Our highest goal is to help marketers truly comprehend their audiences and boost their campaigns in a way that leads to sustainable results,” concludes David.