Social media has become the preferred place for small, medium and big businesses to advertise and market for three (3) main reasons.
Firstly, it’s easier to measure impact and spend of your marketing budget.
Secondly, social media allows two-way communication whereby the message receiver can (immediately) give feedback to the sender. What makes this communication better is that other people, whether prospective customers or influencers may come across this feedback and may share with others who are searching for this service/product.
Thirdly, data analytics and insights are available for reviewing content performance, demographics, psychographics and geographics.
This third point, that is audience insights and data analytics, has been repurposed into content for digital marketers and businesses by Facebook and Instagram to make better digital marketing decisions. This content site is named Facebook IQ and it was created in 2015.
The About page of Facebook IQ explains the importance of the platform:
Every day, everywhere, people turn to Facebook to connect, share, discover, get informed and get inspired. By harnessing Facebook insights and working with world-class researchers, we can help marketers understand people across generations, geographies, devices and time. With more than 1.65 billion people on Facebook and Instagram, making up 1 in 5 minutes on mobile in the US,* we are able to offer information about consumer attitudes and behaviors that marketers are unable to find elsewhere.We are a team of thought leaders, researchers, writers, trend spotters, sociologists, anthropologists and scientists, who bring world-leading expertise to our data analysis and storytelling. We provide marketers a true understanding of people—who they are, what they do and why they do it—and we do this all in a privacy-safe manner. We look at what drives people to stop, look, feel, share, do and buy. We then translate what these insights mean for brands.
Real Life. Real Insight. Real Action.
The platform simplifies insights by using a storytelling approach and also by recreating survey results into interesting infographics. For example, the infographic below breaks down information on weddings and engagements.
Facebook IQ divides consumer/situation data into four categories: people insights, holiday and events, industry research and monthly spotlights.
Data matters. Stay in the know.