By Chris Lee
While Facebook marketing is a core component for many brands, according to one recent study just six per cent of fans are actively engaging with brands on the social network. Brands looking to increase their engagement levels and audience reach on Facebook therefore need to be highly relevant using the data made freely available by users.
To give brands better insights into their target audiences on Facebook, business intelligence company Microstrategy launched its Wisdom Professional (Pro) app recently.
The quest for wisdom
Karl-Heinz Land from MicroStrategy describes Wisdom Pro as “an app that analyses a broad spectrum of personal data contained in Facebook about consumers, including their demographics, interests, activities and preferences”.
Millions of people have opted-in to contribute their data anonymously to the Wisdom Network and consequently Wisdom has, Land argues, become a “powerful” consumer research system on Facebook.
“It offers comprehensive demographic analysis and that of interests and activities,” he told NMK. “This allows brands to run detailed affinity analysis, which determine which interests distinguish a group of people uniquely from the overall population, comparative analysis and psychographic clustering, the analysis of groups of people based on ‘psychographic profiles’ such as travel lovers, brand conscious, social activists and outdoor enthusiasts.”
Insight from the US Election
Wisdom provides insights into the overall preferences of nearly five million US-based Facebook users, representing more than three per cent of the US Facebook population. These insights are based on aggregated and anonymised Facebook profiles, which include "Likes" and check-ins, as well as census data.
Wisdom recently analysed more than 535,000 Barack Obama and 172,000 Mitt Romney Facebook fans based in the US ahead of the presidential election on 6 November. Its research into the fans of both candidates found who they are; where they live; how old they are; what they read; what they watch; what they listen to; what they eat and drink; and where they hang out, according to Microstrategy.
Wisdom Pro’s analysis found that Romney’s Facebook fans skew toward male voters, married couples, and an older age demographic, while Obama’s Facebook fans are more evenly split between male and female, are more likely to be single and skew younger.
Wisdom Pro is available via the iTunes AppStore and currently only analyses Facebook as that’s where Land believes the richest data is available on consumers.
“[Facebook] has most to offer a brand in terms of building a customer profile and making smart decisions based on that data. It also has more than one billion users so seemed like the best social network to work with. We have no current plans to roll-out this out to Google+ or Twitter but there is no reason why we couldn’t do so in the future,” he said.