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Social Networking, Customer Analytics & Brand Loyalty

written By Matt Prutting 

Peer advocacy is a primary driver of consumer purchase, and with the pervasive presence of social media, companies can now reach consumers the same way their peers do. With such ease of access, it is no longer about simply getting people to listen, but engaging in legitimate interaction with consumers. Social networking allows for a level of disclosure and specific detail that stand to be fundamentally beneficial to businesses.

Customer analytics and social networking provide a level of detail and a method of evaluation that allows businesses to focus on each customer and determine the most advantageous way to reach them. This proves to be an integral part of not only building brand equity, but understanding what drives brand loyalty. This means that companies will need to focus on monitoring and improving customer experience more than before.

This creates a new opportunity for expansion and development of brand advocacy. Companies can identify both advocates and detractors, as well as what stimulates their behavior. And what is just as important, they can also monitor those who are “on the fence” and what action is most likely to tip the scale in either direction.

The Net Promoter Score product has also been invigorated and reevaluated with social networking in mind. The product now confers a promoter score based on comments coming from Twitter and Facebook. We are constantly finding out not only new sources of information, but the ways to maximize their utility. The pairing of social networking and customer analytics creates an opportunity to analyze data on the micro level and use the results to influence not only your brand’s identity, but the relationship between your brand and specific consumers.

 

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Categories: Market Research Social Media

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