3 steps to influence purchase decision through social media
DESCRIPTION
Social media analytics can help you measure 'Likes' that influence purchase decision. This Info-graphic has 3 important steps that can help businesses increase ROI on social media marketing.TRANSCRIPT
Map intent to purchaseCapture intent to cheat, fraud
INFLUENCING PURCHASEFROM MEASURING 'LIKES' TO
Identify relevant digital channels
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Text AnalyticsEvaluate frequency, semantic relationships, extract trends, relationships and rules of engagement
Strengths: Fast response, spot unfavorable postings quickly
Weaknesses: Can lead to considerable "noise" in the data
Attribute AnalysisProduct attributes that customers �like” or �dislike” and their response towards the productStrengths: Refined recommendations - Useful for "cold start" applications where little personalized data is availableWeaknesses: Difficult to determine and classify attributes
Establish listening post
Social Network-based RecommendationsFacilitate recommendation sharingStrengths: Leverage existing social networking sites.Well suited to new and small businesses lacking an intuitive customer baseWeaknesses: Recommendations are not scientifically determined. Social network relationships can be superficial
Measure impact, Estimate ROI and extract digital insights
Digital EngagementRadar*
Predictive modeling and entity mapping create a holistic profile influencing intent to purchase
Create content usinginsights from analytics