Posted by Since about three-quarters of B2B businesses prioritize lead quality, It’s no wonder that high-quality leads are in high demand, despite supply scarcity. This, coupled with skyrocketing customer acquisition costs and an intensely competitive market, leaves you slim chances of attracting these high-value leads.
But that’s where leveraging social media analytics can be a game changer.
In this article, we will discuss how you can identify and attract high-value leads through social media analytics and craft a balanced, targeted approach to social media lead generation. Let’s start here:
What Is Social Media Analytics?
Social media analytics is all about gathering and analyzing data and reports based on the metrics from your social media account. It provides your insights into factors closely intertwined with your marketing and lead generation efforts.
These analytics include everything from click-through rates and keyword monitoring to lead magnet performance and UTM parameters. Using social media analytics, you:
- Develop a deeper understanding of your target audience (aka high-value leads.
- Identify social media platforms that receive the most attention from them
- Type of content the leads engage with
- Discover social media posts with the most significant reach
All in all, it forms the base for a rebus social media lead generation strategy for your business.
5 Practical Ways to Identify High-Value Leads with Social Media Analytics
Now, with the definition clear, here are five proven ways you can use social media analytics to identify and convert high-value leads:
Define Your High-Value Leads
Not all leads are created equal. Your job is to identify lead value so that you can make data-driven decisions that drive even more valuable leads. Knowing them will help you forecast sales and justify extra marketing experiences to acquire these high-potential clients.
Start by defining exactly who qualifies as a high-value lead for your business. These leads will share a few specific attributes. They’ll:
- Closely resemble your target market.
- Display blatant indications of purchase intent (say by asking for information, downloading a lead magnet, or showing interest in your offer)
- Have the resources and money to buy from you
- Are decision-makers inside their businesses
- Interact with your brand and content.
Ensure you have a firm grasp of your ideal customer profile. A shortcut to this is using your sales intelligence tool to identify your ideal buyer persona, assess their financial capacity, lead scoring, behavioral signals, and lead qualification questions to distinguish high-value leads from low-value ones.
Leverage Social Listening
Social listening is tracking and analyzing social media conversations around your brand, product, and industry. While it’s used to improve marketing strategy, product development, customer service, and brand awareness, it’s also an effective tool for identifying high-value leads.
Here’s how you can weaponize top social media listening analytics for high-value lead generation:
Keyword Tracking
Monitor relevant keywords and phrases to understand the conversation your target audience is having. This will help you get authentic feedback on your product, recognize customer pain points, and identify potential leads.
A good social media listening tool will also allow you to track competitor keywords, allowing you to see how the brand compares to the competition.
For example, if you are a sports shoe brand, you can track keywords like ‘marathon,’ ‘sneakers,’ and ‘jogging.’
Discover New Sales Opportunities
If you see someone on social media talking about needing a product you produce, you can reach out with an offer. If you find high-value prospects talking about a problem your product can solve, engage with them and present your product as a solution.
Tracking all brand mentions, good and bad, will present you with the opportunity to find leads. In this lead nurturing phase, you can identify high-value prospects and direct more resources toward converting them.
Social media platforms’ tools, like LinkedIn Sales Navigator, can shoulder this task for you. It’ll help you easily identify relevant conversations, engage with high-value prospects, and focus on lead nurturing by tracking their activity and engagement with your brand.
However, make sure you extract the lead information from LinkedIn Sales Navigator to your Excel sheet and save it in your database. Otherwise, you might lose access to this hard-earned lead data when you cancel the subscription.
Track Competitor Conversations
Competitive analysis is a crucial part of social media analytics. It provides actionable insights into business strategy, product development, and, most importantly, high-value lead generation.
Here are a few tips to monitor competitor conversations:
- Set up specific alerts for your primary competitors as you did for your brand.
- See what people love about the competitors, but even more importantly, track mentions of what they don’t love so you can jump on the opportunity with your offer.
- Engage tactfully with the prospect who has expressed dissatisfaction with a competitor — it’s an opening for you.
Analyze Engagement Metrics
Monitoring engagement metrics goes beyond likes and shares. It includes replies, mentions, comments, engagement rate, sentiment analysis, and much more–all of which are key to identifying leads.
Monitor engagement levels closely to determine how actively users are interacting with your brand and content. Narrow down to the top engagers and analyze their engagement patterns (the type of content they most resonate with). Look for social influencers who can amplify your reach to a broader audience of high-value leads.
The idea is to use the engagement metrics as a base to find your most engaged leads, less active users, and even passive observers.
Remember, identifying high-value leads is more than just using numbers. You have to look for followers who:
- Ask insight questions and spark discussion in your comment section or social media groups (LinkedIn and Facebook)
- Share your content with their network.
- Express pain points relevant to your solutions in different forums (competitor’s social media posts)
- Consistently engage with industry influencers.
Later, based on the engagement analytics, score your leads to identify the highest-value ones. To attract this segment, focus on tailoring your content and offers with targeted campaigns, personalized messaging, and active engagement.
Leverage Social Media Features
Social media platforms like Facebook, Instagram, and LinkedIn allow you to run paid ad campaigns for your ideal audience. These tailored ads let you target prospects that align perfectly with your intended goals.
Also, don’t forget to invest in sequential retargeting campaigns. This uses data on past engager’s interactions. For example, someone who would have clicked on your initial ad looked around but left without converting. You can retarget personalized ads to these high-value prospects and motivate them to complete the signup.
However, make sure to use social media analytics to customize content and messaging based on the audience’s previous actions. Thus effectively guiding them down the conversion funnel.
Then, there are lead generation ads, which are specialized forms of social media ads designed to collect high-value lead data from prospective customers. Better yet, integrate these ads with your lead capture software to streamline data collection, personalize messaging, and speed up the process of capturing user information.
Identify Buying Signals
A buying signal is an indication of the user’s purchase intent. These signals can be anything from someone asking about your pricing to soft signals, such as people searching for relevant keywords.
However, these signals are discrete since they live in the buyer’s world and can only be detected by leveraging relevant social analytics. Twitter and LinkedIn groups are the top social spots to find and listen to these buying signals, which will lead you to high-value leads.
Using these signals, you can not only identify leads but also write your emails, subject lines, and conversations and see how quickly the leads travel down the sales funnel to become paying customers.
Going Beyond Likes and Shares
Remember, social media is not a place for hard sales. However, when you use it right, it can become your primary source of high-value leads for your business. If you implement these five tips shared above to revamp your social media lead-generation strategy, soon enough, the leads will start pouring in.