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Tapping into Social Media Data for Branding, Marketing and Business Efforts

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Tapping into Social Media Data for Branding, Marketing and Business Efforts

Have you ever noticed just how much social media has changed in the past 5 years? According to the Pew Research Center (PRC) just seven percent of American adults used social media back in 2005. As of 2015 the PRC confirmed that number grew to 65 percent, which is an 829 percent increase. This is brings us closer to our topic: tapping into numbers. We’ve seen a clear shifting in focus from quantity to quality. The only “quantity” that matters today is the data behind any social media marketing strategy. Analytics. Facebook Ads. Twitter Analytics. Instagram. Pinterest. LinkedIn. Each platform has a back-door to analytics and data.

Stats by Worldometers.info reveal that 250 million blog posts, 40 million tweets and 280 million Google searches. This only confirms that using the right tools and data can help in understanding KPIs such as engagement, brand awareness and lead generation. “Going for a data-driven approach allows a business to visualize the customer journey and better equip their products or services targeted for the different social media networks”, explains UXmatters magazine. This infographic explains how to perform social listening and how to capitalize on analytics.

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Hearing Consumers Through the Social Media Din

    As it shows, there are five crucial steps: listening, integrating, analyzing, engaging, and acting. Today the ‘social media web’ works for a brand only if the brand listens to their customers and followers. And while it may be challenging as a business owner to analyze everything on your own, you can always look for help, because data is just that important.

    Word of advice: Before taking the plunge to engage use everything in your advantage. This can mean findings from reports, other studies, social experiments – anything works. Gather as much intelligence and assemble a team dedicated towards bringing customers through this channel. Because now more than ever, social media has the potential of a social sales funnel if done right. Don’t rely on just an existing audience and existing customers, instead design a real purchasing experience, from perks to gamification and loyalty programs for the community.

    Using Effective Social Media Tactics

    First off, build your brand around social devotion. In other words, respond within a reasonable timeframe, give your customers the feeling of value as a return on their own investment. Secondly, grasp well how each social channel works and what tactics are known to be successful. In a succinct report compiled by Ascend2 and Research Partners, the most effective social media tactics used seem to be:

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    • Creating compelling content
    • Posting on social networks
    • Managing website content
    • Advertising on social networks

    Creating compelling content means being great at storytelling. This helps in separating your business from the rest and achieve that sense of uniqueness. Don’t be afraid to find your own style and tone. Make your shares less in number and better in terms of quality. Respect the time of your audience. Build a website that is clean, clear and responsive, not only to your audience’s device, but also to their needs. Be generous with budgets. Larger budgets provide the ability to advertise and reach a larger audience. From Facebook to Twitter ads, sponsored posts on Instagram, LinkedIn ads and more, be ready to invest a couple of bucks on a monthly basis. For e.g., one of the rules in Google’s Partnership program is actually linked to how much a company spends on AdWords on a monthly basis.

    Case studies, exploiting the benefits of small data and unleashing the potential of social media channels

    Top platforms like Twitter and Facebook get massive traction, but they don’t always work for everyone. Instagram and Snapchat, through mobile photo-sharing and video-sharing services, have seen ‘runway’ success. Just Instagram alone, since the acquisition of its parent company Facebook, has had over 400 million active accounts and 40 billion photos shared. To learn from your competitors check out Instagram for Business, a page which provides more than 80 case studies, from worldwide brands.

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    But we’re seeing an increase in demand for local brands and small businesses. “Although big data offers companies thrilling new opportunities to learn from customer behavior and discover unknown correlations, it is important not to forget the qualitative part of consumer analysis.” says datapine Managing Partner Jakob Rehermann.“Excited by the new insights big data offers, some managers tend to blindly act based on the numbers presented to them. But equally important as the question of what is happening, is to understand why it is happening – finding the cause of the relationship. SMEs have realized this and have successively started including smaller, more detailed datasets in their analyses, which they can explore in-depth”.

    Two other platforms worth mentioning are Pinterest and LinkedIn. With Pinterest shifting and changing the way social e-commerce works for businesses, it seems 75% of Pins comes from businesses and a remaining 25% from users. This Pinterest business blog post reveals just how much business potential the platform has for startups and SMEs in particular.

    Separately, LinkedIn has become a vibrant professional social network. As Socialbakers explains, LinkedIn isn’t just a social channel to connect employers to potential employees, but also a great way to gather professionals in one place, create groups, pages and content that reflect the brand’s mission, vision and voice. With the way groups work, LinkedIn offers the perfect environment for customer support, community growth and brand development.

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    Takeaways

    Social media channels are on a constant move in terms of communication, behavior and interaction, which brings us to the way a brand can be up to date with chances and shifts. Only by gathering data and analyzing it can a brand understand the history behind its successes and failures. Data can reveal old patterns and predict future ones, provide a deeper understanding of causal relationships and effects, as well as identify potential associations between variables. Even Twitter started providing standard reports on audience demographics, which demonstrates that once a brand forms and grows an audience, the next step for business growth is to analyze and explore it. q.e.d.

    Featured photo credit: Victor Hanacek via picjumbo.com

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    Anthony Carranza

    Multilingual writer and journalist covering all things technology and productivity.

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    Last Updated on January 27, 2022

    12 Reasons Why You Should Consider Working in Singapore

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    12 Reasons Why You Should Consider Working in Singapore

    Nine out of 10 foreign workers are satisfied with working in Singapore, a recent governmental survey reports. Being ranked best for numerous criteria from best intellectual property protection laws to the easiest country to do business in, Singapore also receives a bunch of accolades for the overall quality of life, top education standards and efficient medical system, ranking the nation as the healthiest in the world. So, what exactly makes the City of Lions such an impeccable place to start your career or relocate your business? Here are just 12 reasons why you should consider doing it!

    1. Singapore ranks second as the most globalized economy in the world

    The Global Competitiveness Report 2014 – 2015 named Singapore as the world’s second prospering economy. By defining “competitiveness” as the set of institutions, policies and factors that determine the level of productivity of a country, the report claims to be the most authoritative assessment of the country’s prosperity and well-being. What does that mean for you and me? High wages, low unemployment rate, excellent work conditions and nourishing business development and investment climate.

    2. Salaries are extremely lucrative

    As the economy is booming, Singapore companies are hungry to acquire overseas specialists, offering top salaries and lucrative benefit packages to attract highly-skilled workers and talents. With a median salary of 3.500$ per month, software engineers can earn up to 72.000$ annually, whereas general practitioners usually receive around 80.000$ per year, according to PayScale. Elementary school teachers earn around 34.000$ per year and working as a waitress part time will bring you around 1100$ per month.

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    3. Progressive personal tax system

    Calculating and paying taxes in Singapore is extremely easy and usually takes around 30 seconds to submit your online tax return. If you already obtained a residence permit, your personal taxes in Singapore range from 0% if you earn less than S$ 22.000 per year to 20% for incomes above S$ 320,000. Non-residents are expected to pay a flat rate of 15% from all income gained in Singapore. In addition, all of your earnings gained overseas and brought to the country are not subjected to any taxes.

    4. Getting a work/residence permit is really easy…

    With a population of only five million, and dropping fertility rates, Singapore is highly interested in acquiring new residence and labor force to boost the country’s economy to soaring heights. If you already have a job offer secured, applying for a work permit would take only a few clicks on the governmental website and you will know the outcome within just one day. No lines, no paper bureaucracy and no huge list of supportive documents or blankly stated requirements. Their entire procedure is even simpler if you are a business owner wishing to relocate your business to Singapore, or a start-up entrepreneur wishing to develop your company within the island. You are likely to receive your work permit for a longer term, plus the renewal process is fast and simple. Residence permits are usually issued along with your work permit for the same period of time.

    5. …And the same with permanent residence status

    If you have lived and worked in Singapore for over a year and enjoyed your experience, you can start considering applying for a permanent resident card. Again, the whole process can be done online without much hassle or paperwork involved. Among the factors of a successful outcome, expats name young age (below 50), educational background (degrees obtained in Singaporean universities will earn you extra points), the industry you work in (again extra points to those who are involved in scientific research and working with innovative technologies), and your ability to speak one of the four languages. The processing time does take up to six months.

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    6. The adaptation process goes easy

    As English in the main working language you won’t experience the dreaded language barrier. The local society is an absolute melting pot of Chinese, Malay, Indian and British cultures with 42% of population being foreigners. There is a huge amount of expat communities and meet-ups, restaurants serving awesome foods from all over the world, and imported goods you are used to buying back at home. As expats say, “Singaporeans are generally very comfortable with diversity and have been very welcoming to foreigners” with rare case of racism or religion discrimination occurring. There are numerous international and English schools available, along with pre-school daycare centers, so your kids won’t experience much troubles either when changing environments.

    7. Top notch higher education

    If at any stage you feel like lacking relevant educational background or certain skills to get a promotion, you should consider getting a degree in one of the six Singapore universities. National University of Singapore currently ranks number one in Asia and 22nd in the world offering degrees in Arts, Law, Medicine, Computer Sciences, Public Policy and nearly any other profession in demand. Tuition fees for undergraduate programs range from S$ 28.600 to S$ 129,200 for medical degrees. However, all students (foreign or resident) can apply for governmental grants and tuition aid, cutting down the costs by 50%, as currently around 20% of government spendings go into education. If you are aiming at a top executive position, getting an MBA in Singapore will cost you S$ 58,000 full-time or part-time.

    8. It takes three days to open a business

    Being ranked #1 for the ease of doing businesses by World Bank consequently for seven (!!!) years, starting your business in Singapore is easy and fast indeed. The whole process is done online and your registration will be deemed completed within a few hours after you pay a registration fee of the S$65. Afterwards, you can either refer for further assistance to ACRA (Accounting and Corporate Regulatory Authority) offering you a huge selection of agencies and providers to handle all your business needs – from business start-up services to preparing all the documents for your annual returns.

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    9. Singapore is rated #1 as the best labor force in the world

    As your business grows and you feel it is time to expand, hiring new professional team won’t be much of a struggle. With expats and work migrants flooding the market, local labors are known for their effectiveness, strong work ethics and superb educational profiles. Filling in top executives and managerial positing will not be a problem either as the share of high-skilled professionals with relevant background rose from 27% in 2003 to 31% in 2013. Moreover, 25% of residents reported to have worked for the same company for 10 years, which means less personnel changes and headhunting.

    10. Low crime rates and zero corruption

    Currently ranked the 5th least corrupted country in the world, Singapore surpassed a long chain of reforms and law enforcement practices on the road to a bribe-free society. The Corrupt Practices Investigation Bureau has kept an eye on matters since 1952 and tries all cases according to strict Singapore laws with long-term jail sentences and huge fines up to S$ 100,000. Same goes towards any sort of crimes–even minor offenses are treated with extreme severity. Think: three months of jail and three hard cane strokes for painting graffiti on a war memorial. When living and working in Singapore you don’t need to worry about your belongings getting stolen, nor your life threatened. Besides, you don’t need to have any sort of “special connections” to do business and get through all the legal and bureaucratic procedures.

    11. You can become a millionaire in less than 10 years

    According to a recent report issued by Boston Consulting Group, over one half of wealthy Singaporeans accumulated the majority of their wealth in less than 10 years. That’s the quickest growing rate in the world. Now, Singapore boasts one of the highest millionaires’ density in the world with 8.8% of the population having assets over one million US dollars. The phenomenon exists due to the ease of doing businesses in Singapore, advantageous location with easy access to nearby booming markets of India, Indonesia and Malaysia and quick implementation of progressive new technologies.

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    12. Absolute political stability

    Obviously, your business and you as an employee do not exist in a vacuum and are highly dependent on governmental policies and law-making. The Singaporean government is known for conducting open and fair policy towards constantly introducing new laws, tax relieves, and regulations to enhance the countries’ business environment even more. With the People Action’s Party forming the majority in Parliament since 1965, Singapore has a very stable and orderly government indeed.

    Featured photo credit: Larry Teo via unsplash.com

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