Despite marketers' enormous efforts spent on engaging with consumers on social media, there has been very little data about how this translates into real-world product purchase and consumption. How do you correlate consumer interests online to what really matters: product purchase and consumption?
In this research paper, we will address this important topic by leveraging Cubeyou’s big data analytics that fuses observed consumer online social behavior and GfK MRI’s consumption data. This report covers these three key questions:
• Does consumer interest expressed through online social behavior correlate with purchase behavior?
• Does this correlation vary across product categories?
• Do some brands show stronger correlation than others within the same product category?
We analyzed the intersection of social fans and buyers for 50 representative brands across five very different consumer product categories (Fast Food, Beer, Confectionery, Mass Retail and Laundry Detergent) to identify trends and learnings. For each brand, we calculated a metric we call Emotional Commitment Score, which measures a brand’s ability to convert its buyers into brand advocates on social media.
Social media has had a profound impact on the marketing landscape but there is no one-size-fits-all strategy that works for all brands. At Cubeyou, we believe gaining a deeper understanding of your consumers, and how they engage with your brand online and offline, is the first step to identifying opportunities and challenges.