Ever considered why TikTok can took the world by a storm? Is it its funny mock videos or its simple to use functions? That is only part of the whole story. The core reason that has often been neglected is that TikTok probably understands its users better than they do.
By January 2022, TikTok is estimated to have over 1.28 billion active users across 150 countries (Perez, 2021). One important idea in marketing is to develop a customer persona so that you can better understand their characteristics and their needs. This in turn helps you to provide them with products or services with higher values.
But for TikTok, it develops thousands of customer personas for its users so that it can target its users in more accurate ways. The reason TikTok can do so is because it utilizes digital analytics to make the best of use of data collected through various channels.
But to full leverage the power of data analytics, companies should learn the following skills.
First, insights are much important than data. Ready to apply data collection tools have greatly reduced the cost and trouble for businesses to collect data about their target customers. However, collecting data is only meaning if insights can be generated. Therefore, when collecting data, data analyst and marketing experts should work collaboratively to design a structure for the data to be collected so that meaningful insights can be obtained from the collected data.
Second, visualize data as much as possible. While data analysis skills are vital for gaining reliable insights from the collected data, it prohibit key decision makers from being engaged on an on-going basis. On the contrary, visualization can help people quickly digest the collected data and facilitate their decision making.
Finally, Implement data analytics as an iterative process. As customers’ needs may undergoing constant change, new data may be collected. Similarly, new structures may be applied and new models should be used to analyse the collected data. This will help companies to have improved understanding about their target customers.
Start embrace digital analytics now. You may eventually know your target customers better than they do.
Perez, S. (2021). TikTok to rank as the third largest social network, 2022 forecast notes. TechCrunch, retrieved on Apr 3, 2022 from: <https://techcrunch.com/2021/12/20/tiktok-to-rank-as-the-third-largest-social-network-2022-forecast-notes/>