54 Fascinating and Incredible YouTube Statistics
By Kit SmithJan 17
Research analysts reveal how the most innovative brands are using consumer intelligence to transform decision-making.
Every day consumers are logging into social media sites to discuss their overall experience with businesses.
Whether it is the excellent service they receive in store or their disappointment with new trends, customers are expressing their opinions through the web.
Social engagement with your customer base has never been more important, especially for the retail industry.
This emerging landscape has lead our insights team to investigate how five retail brands have used social media to add value to their business.You can read the full report on how retail brands can and are utilising social media to full effect by clicking on this link.
The report covers a range of online conversations, which many fashion companies encounter regularly. Six use-cases are evaluated to give practical examples of how social media monitoring of consumer conversations is a necessary practice in the current retail business landscape.
The brands selected were H&M, ASOS, Target, Kmart and Zappos, all of which are global business with annual revenues of $800m and above.
The research revealed that by monitoring the reactions of the consumer, businesses can gain insight into the success of their advertisements and their customers’ intent to purchase.
This can be demonstrated in the comparative analysis of the use of celebrities by H&M.
By analysing the volume of discussion surrounding the adverts and the conversations expressing purchase intentions Brandwatch discovered that Beyoncé was the celeb which most inspired consumers to buy H&M products, despite provoking less conversation in general.
The study also highlights how companies who monitor their online buzz could find ways to improve their customer service.
The amount of replies per inbound tweet from ASOS on their company Twitter account to consumers is relatively low in comparison to that of Zappos.
This indicates that more could be done to respond to customer queries online for some companies.
What you’ll learn from the report is that the customer is repeatedly turning to online platforms to discuss their likes and dislikes about a brand, but also how this intelligence can be leveraged for business success.