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3 Steps to Influence Purchase Decision Through Social Media

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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.

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.

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  • 1. Map intent to purchase Capture intent to cheat, fraud INFLUENCING PURCHASE FROM MEASURING 'LIKES' TO Identify relevant digital channels 1 2 3 Text Analytics Evaluatefrequency,semanticrelationships, extract trends,relationshipsandrulesofengagement Strengths: Fast response, spot unfavorable postingsquickly Weaknesses: Can lead to considerable "noise" in thedata Attribute Analysis Product attributes that customers “like” or “dislike” andtheir responsetowardstheproduct Strengths: Refined recommendations - Useful for "cold start" applications where little personalized data isavailable Weaknesses: Difficult to determine and classify attributes Establish listening post Social Network-based Recommendations Facilitaterecommendationsharing Strengths: Leverage existing social networking sites. Well suited to new and small businesses lacking an intuitive customerbase Weaknesses: Recommendations are not scientifically determined.Socialnetworkrelationshipscanbesuperficial Measure impact, Estimate ROI and extract digital insights Digital Engagement Radar* Predictive modeling and entity mapping create a holistic profile influencing intent to purchase Create content using insights from analytics