It’s no secret that the past few years have seen an explosion in social media marketing. Today, businesses of every size are using social media to advertise their products or services in a hyper-connected world. But how is this done? How can you attract the attention of new customers on Facebook, Twitter, Pinterest, Instagram, and other social channels?
The answer may lie with a simple graph maker. That’s right — graphs are playing an increasingly important role in both traditional business marketing and newer forms of social media marketing. Here are just five ways that graphs are being used today for contemporary e-commerce businesses:
1) Graphs Show Trends
Purchase history data is an essential tool for any modern business. Not does it give companies insight into what their customers are buying, but it also shows them the way that those products are being consumed. Graphs allow marketers to visualize acquisition, usage, and frequency data. This not only helps them to create more targeted marketing campaigns, but it can help them to optimize their sales strategies.
2) Graphs Show Financial Performance
As any good marketer knows, people want information about money. Business graphs — created by graphing data related to customer spending habits — can give businesses a better idea of how they’re doing financially.
From simple line graphs that track revenue week-to-week or month-to-month to complex pie charts that factor in items like gross margins and inventory turns, this information is essential for smart business decisions on everything from marketing strategies to staffing and design decisions.
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3) A Chart Maker Can Show Customer Lifecycle
In today’s market, a customer who hasn’t purchased anything in six months may as well be a brand-new customer. That’s because the way that people consume products and services has changed so much in recent years. The Internet offers consumers an almost endless variety of choices — from automobiles to groceries to consumer electronics.
Businesses have never had so many options when it comes to increasing their bottom line. Graphs offer companies a better idea of how long customers are sticking around, helping them get rid of less engaged prospects while focusing on more valuable ones.
4) Graph Creators Show Product Performance
Another pillar of online business is the volume of data available through analytics. Data collected by a company’s website can be a vital source of insight for global marketing campaigns, determining the effectiveness of ads and other materials. However, many companies have found that their most efficient data stream is data from sources outside of their own websites.
By using various forms of social media to interact with customers — whether it’s through private messages on Facebook or public tweets on Twitter — businesses can get an almost constant flow of feedback from consumers. In turn, this information gives marketers a better idea of how products are being received, allowing them to create more effective messaging going forward.
5) An Online Graph Maker Shows Engagement
Since social media marketing requires constant and frequent communication with consumers, it’s important to create a two-way street of interaction. With graphs, marketers can measure how often people interact with their messages. They can also use this information to engage more deeply with those who respond most frequently. While this doesn’t necessarily impact sales or product performance, it does provide marketers with valuable insight into the types of messages that resonate most deeply with their audience.
6) A Chart Creator Shows Affinity
For businesses of all types, one of the most important questions is “What do our customers like?” For social media marketers, this information can be vital for determining which social channels they should use to engage with their audience.
It’s also useful for helping them understand how various demographics interact with their messaging — including everything from age and gender to geography and income level. The more granular the information, the better. While graphs are an aspect of marketing that hasn’t traditionally gotten much attention, it’s clear that they’re playing a significant role in both web-based e-commerce and associated forms of social media marketing. Their ability to make data easier to comprehend allows marketers at all types of businesses to quickly draw real conclusions.
7) A Graph Making Software Shows Inventory Levels
Inventory management has always been a challenge for business owners. With so much money committed to product inventory and manufacturing equipment, there’s constant pressure to do more with less. Graphs offer a great way for companies to visualize inventory levels, making it easy to see when orders need to be placed or discontinued products phased out.
This is a key metric for any business, but it becomes even more vital when a company is operating on a lean budget.
With so many different ways that graphs can help companies, it’s no wonder they’re such a popular marketing tool for businesses of all sizes. Whether you need to get the word out about your company or simply gather more information about your customers, the best way to do it is often with data. Graphs are one of the best tools for communicating data in a visual format and can be an extremely cost-effective way for businesses to communicate their message.