3 steps to influence purchase decision through social media

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Post on 22-Jun-2015

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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

Page 1: 3 Steps to Influence Purchase Decision Through Social Media

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