Fortune 500 companies are deploying social media as an integral part of their strategy to understand audience behaviors. Given the vast resources that these brands are equipped with, capturing social media intelligence becomes an inevitable effort towards audience analysis.
To begin with, here are some hard facts that put the position of Fortune 500 brands on social media platforms-
Almost 99% of the Fortune 500 companies have an active social media presence. Fortune 500 companies are leveraging social media to market their brands and also to understand their target market.
About 91% of these Fortune 500 brands are using Twitter to connect with their audiences. Facebook, on the other hand, has about 89% of the Fortune 500 companies using the platform to build a loyal community of followers.
Different brands are following different approaches to leverage the power of social media. Let’s look at how some of the fortune 500 companies are using social media to learn more about their audiences.
Citigroup’s Customer Experience Efforts
Citigroup, as a part of its customer experience strategy, has been extensively looking into its social data. In an effort to build an effective omnichannel experience for the customers, Citigroup has deployed an active listening strategy.
This Fortune 500 brand has been tapping into VOC- Voice of the customer. VOC is used to analyze customer data and insights then inculcate the data into building their customer experience strategy.
With the help of social listening, Citigroup attempts to enhance its customer experience efforts.
Citigroup is in fact, one of the many Fortune 500 brands with a dynamic social media presence.
The brand uses Instagram as a platform to project their CSR and community initiatives. Citigroup has run campaigns around the Paralympics, sustainable development, gender equality, and more such initiatives.
On Twitter, Citigroup shares news, updates and latest happenings in the industry apart from their CSR efforts. At the same time, they have created a separate Twitter handle, dedicated entirely to customer service.
The customer service Twitter handle for Citi, AskCiti, manages customer queries and complaints in real-time. By being quick and responsive, Citigroup attempts to maintain a strong rapport with its target audience.
When it comes to Facebook, Citigroup follows a somewhat similar approach, showcasing its community and CSR initiatives.
Citigroup, with its omnichannel presence on social media platforms, markets its position as an ethical brand and builds a connection with the target audience. Meanwhile, the brand combines social data, including intelligence from customer listening with their social media efforts to build an understanding of their audience.
Citigroup is not the only Fortune 500 company that is tapping into the power of social listening and/or digital listening to. Brands like Netflix and PepsiCo are also deploying social listening as a part of audience data collection.
Let’s first look at what PepsiCo is doing on their social media.
PepsiCo on Social Media
PepsiCo has a strong following on Facebook with as many as 38 million fans on the platform. Like Citigroup, PepsiCo has also been populating it’s Pepsi Co Facebook handle for India with posts related to their CSR efforts.
On Twitter, PepsiCo has 340K followers, putting out content featuring their products as well as their community & CSR initiatives.
On Instagram, PepsiCo has a 48.7k-strong following. The brand uses this visual marketing platform to showcase products through attractive, visually appealing content.
Being a Fortune 500 company, PepsiCo leverages its resources effectively to create a strong presence on social media platforms. Especially as 90% of millennials are actively using social media, it makes sense for PepsiCo to tap into these platforms.
PepsiCo, in particular, PepsiCo India has been following a rigorous and daily exercise of monitoring and listening to all audience interactions. The company looks into brand-by-brand reports on a regular basis to capture the audience sentiment as well as to spot issues if there are any.
Further, the company emphasizes on the importance of listening to conversations online, in an effort to discover potential opportunities.
Apart from PepsiCo, Netflix and Visa are also some of the Fortune 500 brands that have been using social media intelligence for their audience analysis.
Netflix’s Social Media Discovery- Netflix Socks
Have you heard of the famous Netflix Socks, the ones that turn off the show whenever you fall asleep?
Netflix deployed social listening to capture audience opinion and offer a top-notch experience to consumers. What the brand discovered in the process, was that a lot of their viewers would end up falling asleep during a binge-watching session.
To tackle this problem, Netflix created the ‘Netflix Socks’, built with sleep detection systems. The socks start flashing red light in case a viewer is about to fall asleep so that they know that the show will be paused.
Netflix sure knows how to tap into social data to identify opportunities.
Visa Using Social Media For Product Enhancement
Visa is another Fortune 500 company that uses social listening to conduct social media research. With a view to understanding the pain points of its target customers, Visa conducted a social listening exercise.
Using social listening, Visa discovered potential small and medium business owners on social media platforms by looking up ‘I own’/’I run’/ ‘I manage’. Conducting research on all the conversations happening on these social handles, the company found out how these SMB companies were wanting to be heard from Visa.
The good thing is, Visa has managed to generate a 50-60% positive sentiment in the process.
These were only some of the examples of Fortune 500 brands capitalizing on social media to build an effective brand image and expand their customer base further.
The power of social media is not limited to big-name brands. Medium, small and micro brands can also leverage social media to conduct customer research.
As you will note, social listening has been a crucial part of the social media marketing strategy for the given brands. If you too want to conduct in-depth research on your audience as well as your brand, you need to deploy a reliable social listening for your brand.
Unbox Social is a Social Listening tool that you can use for unveiling in-depth information on what is being said about your brand on social media. With the help of this social listening tool, you can uncover-
- Insights about audience conversations around your brand and/or relevant industry topics
- Audience sentiment analysis
- Top influencers talking about your brand
- Theme of conversations happening around your brand and/or relevant keyword
Here’s a snapshot of the tool:
If you too want to know what the audience is saying about your brand, get this social listening tool, now!
In the final section, we will quickly take you through the different takeaways from the social media strategies of the given Fortune 500 companies.
Winding It Up
Fortune 500 brands realize the relevance of social media in discovering important insights about their brand and audience. Instead of relying on conventional research methods, big companies such as Pepsi Co, Netflix etc. are leveraging social media to gather data.
Learning from the strategies followed by 4 Fortune 500 companies, here are a few key takeaways-
- Use Voice of Customer to collect important intelligence about customers and capture their feedback.
- Conduct regular social listening exercises to spot any potential issues.
- Discover the audience/ customer pain points
- Lastly, identify potential opportunities with social media data research
So without much further ado, start listening to your target audience now!
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