With its incredible reach, marketers have gravitated to Facebook. BRADLEY ELLIOTT, director of Platinum Seed, digs into the untapped potential of the social network’s “big data.”
Since the first friend request was made on the Harvard campus in 2004, Facebook has become the biggest social media platform in the world by far, with 1.94 billion active users, which is more than Twitter, Whatsapp and Instagram combined.
Five new profiles are created every second, and half a million comments are posted on the network every minute. It’s a huge ecosystem of data, with a wide range of content – from funny, inspiring, cute and heart-warming content, to the more tragic and disturbing. Unfortunately, brands struggle to harness the potential of Facebook “big data” – the massive reserve of data generated from this environment – to its maximum potential.
Businesses simply don’t realise how much data they collect every day and over the years. While most organisations use some of this data to make basic business decisions, like dealing with complaints, few use it to create and nurture relationships with existing and potential customers. Instead, marketers have become masters of their own demise, sending an endless stream of spam and then trying to figure out ways to increase open rates for this often unsolicited, irrelevant communication. However, marketers could very easily use available demographic data to segment their data sets to serve communication in a more targeted manner. Directing male products to males and female products to females are two prominent examples, but most businesses neglect even this basic function.
While some brands can create segments, they rarely use them at a significant scale due to the complexities involved. Being able to segment consumers based on both demographic and behavioural data is extremely powerful, but marketers are intimidated. Tapping into real-time behavioural data allows brands to keep their fingers on the pulse of where consumers are in their lifetime journey, how their preferences and habits are changing, and which products would be most relevant to them. By driving personalised communications, offers and rewards to consumers on a one-to-one level, brands can build advocacy, as well as increase purchase frequency and customer lifetime value.
Facebook has increasingly become a pay to play space, as organic reach for brand pages is now set at only 2%. Brands buy reach and engagement by promoting the content they serve to their audiences. While this can be highly targeted, reach and engagement tend to be a function of budget. The Facebook environment offers a powerful way to reach and engage customers in a much more meaningful way, but this needs to be done strategically, using the correct approach and tools. Brands that produce truly emotive content achieve higher levels of what is referred to as “share of emotion”, or content that drives people to willingly want to share content, resulting in organic reach and engagement.
Too many brands use social media to push their products on consumers, when they should be adding value through rich story-telling, helpful advice, or unbelievable facts. Most users are exposed to up to 1500 stories a day on Facebook, but an average user only gets to see about 100, which is why Facebook tries to make a user’s newsfeed as “personalised” as possible. The algorithm uses several key metrics, including the “relevancy score”, which uses hundreds of variables to control the news feed to predict what content users are most likely to engage with, based on past engagement, and the same applies to Facebook ads.
In July 2015, Facebook introduced the “see first” feature, which lets users hand-pick the accounts, whether friends or followed pages, they prefer to see first at the top of the news feed. If a user spends more time on a particular post, Facebook is more likely to show that post on friends’ news feeds and this need not be engagement in the traditional sense. For instance, people who are interested in a video might not necessarily have liked, commented on or shared it with their friends. Facebook has started monitoring other forms of video engagement, like turning on the audio, switching to full-screen mode, enabling high definition or saving a post for later viewing.
Facebooks’ algorithm is the most complex out of any social media platform and the company claims to continually change it to give users the best experience possible. Brands that produce engaging content, which is relevant to users, will have their content prioritised, but the key is to understand what content is working for the brand. In addition to great content, brands can also use brand influencers in their Facebook communities. These may not necessarily be users with the most followers, but those who drive the velocity of conversation around brand content.
Influencer software, Contunion, allows brands to identify and engage with these users and determine the overall influence of their social media communities. Continuon provides brands with key insight into the content that is getting the most engagement both on a community and individual level, allowing the brand to tailor its content plans for the biggest impact. The Continuon system considers historic and fresh data as equally important, blending it to yield more targeted insights.
With the increasing capability of machine learning and artificial intelligence, combined with large data sets, this is becoming more and more precise. Computers can now analyse millions of variables in real-time, far beyond what humans are capable of, to determine probable outcomes. Not only does prescriptive analytics predict future activity, it also recommends the best course of action for any given situation.
Now download a bank account
Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.
This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.
“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.
“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”
The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:
- Download the Absa App
- Choose the account you would like to open
- Tell us who you are
- To keep you safe, we will verify your cell phone number
- Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
- Tell us where you live
- Let us know what you do for a living and your income
- Click Apply.
How we use phones to avoid human contact
A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.
Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances.
Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?
The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.
In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.
Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.
Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”
To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:
· I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?
With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.
· Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?
Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.
· I’ve lost my phone! How will I keep myself entertained now?
Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.