Author: Ben Cockerell / Source: Marketing Land tanuha2001 / Shutterstock.com Marketers today have advanced technologies at their fingert
Marketers today have advanced technologies at their fingertips to gain a deeper understanding of their potential customers. They use keyword performance metrics to learn how customers are finding them and attribution modeling to follow customers’ paths to conversions. But tracking what happens before the customer ever clicks your ad or visits your website to make a purchase is still a mystery to many marketers.
Most consumers — myself included — do not go straight to a brand’s website when evaluating a big purchase. We do research, online and offline. We may go to the store to try out the product, ask for friends’ recommendations or read product reviews.
And millions of consumers are talking about each step of their shopping experience on social channels. This is why social media analysis is necessary for brands to quantify purchase intent.
Below are three ways to gauge purchase intent through social media analytics.
1. Understand your product category and buyer cycles
No matter what you are selling, from cars to clothes, you need to understand how people are discussing and making decisions to buy these types of products. And just as you define and measure the stages of the purchase cycle for your product category, you can conduct a similar analysis on social media to get richer insights into the buyer journey.
Once you understand how many people plan to purchase these products and which stage of the buyer cycle they’re in, you can get into brand-specific metrics.
2. Predict product launch results
Social media can give a good indicator of whether a new…