Social media analysis leads to increased sales

Posted: Sunday 30th October 2011 in Retail Strategy, Thought Leadership.
 

Retailers are beginning to understand the value that can be derived from the social footprint we leave in our wake, as we adopt social media technologies into our everyday lives.

Straightforward social media analysis tools track what we talk about, how much we talk and whether it’s good or bad.

Walmart analyses Tweets to influence local store buying

The ability to compare your brand against the competition has some value, as long as the data has been categorised and sentiment attributed accurately. What’s more exciting is the emergence of a new set of marketing applications for the data, which go way beyond competitive positioning.

If planned and resourced well, these extended uses can have a direct impact on the bottom line by reducing costs and increasing revenues through:

  • Providing real time sales leads
  • Informing the buying decisions of trading teams
  • Resolving customer complaints
  • Improving SEO, PPC and display campaign performance
  • Shaping new products and services

Walmart has taken social intelligence to the next level. When the American retail giant acquired a small start-up called Kosmix, the industry was somewhat confused. But with the recent announcement of @Walmart labs, the intentions are now clear.

Using proximity-based Twitter feed technology, Walmart will be tapping into the interests of shoppers and their friends, using the information they capture to influence local store buying – as well as targeting deals to consumers more effectively.

This use of social data gets right to the heart of social media. Your customers are talking: listen to them, adapt and sell more products.


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