Gain an enriched understanding of your customers and the roles they play in social networks
Today’s customers are more sophisticated and well-informed in their decision making than ever before. Meanwhile, marketing messages have become less and less effective as customers have turned increasing attention to the reviews and buying decisions of their peers.
Nevertheless, today’s marketers often fail to take into account the “social aspect” of decision making and instead rely on simple demographic information to target their customers.
The explosive growth of social media has greatly strengthened the power that the opinions of friends and family have on a customer’s buying decisions. And as an increasing number and diverse range of people spend time engaged with social media, the impact and value of traditional media advertising (e.g., television, radio, print) continue to diminish.
The commercial value of understanding the social fabric that surrounds customers is significant. And understanding the social role that each customer plays is key to striking an optimal balance between engaging in traditional media marketing activities and using the power of customer advocacy to drive highly targeted and time-specific communications strategies that lead to effective response rates and cost reductions.
Gaining that understanding requires exploring the social links represented by your customers’ communications with each other and with the customers of your competitors. “Customer Link Analytics” helps you get an enriched understanding of customers and the social roles they play by categorizing customer relationships and identifying the communities in which they interact.
The solution is able to analyze customer information from multiple sources to identify social networks and the roles played by members (leaders, friends of leaders, friends of friends, etc.). Networks and relationships among members are displayed visually, enabling marketers to better understand network structure and determine which individuals to target. This provides an understanding on who your most influential customers are; and delivers a more complete view of a customer’s lifetime value.
By quantifying the influence of individuals in a community using “influence scores”, we are able to simulate how ideas, products and services spread. To enhance further, the social network variables in conjunction with past transactions are used to test new product campaigns, which enhances forecasts. Over time, you can monitor the consumption patterns of whole communities – not just individuals.
“Customer Link Analytics” uses advanced analytical capabilities to provide in-depth social information on your customers. Unique network visualization and other analytical tools enable you to see a complete picture of individual customers, their products, transactions and networks at the click of a button. By understanding the social aspects of your customers, you can drive more cost-effective marketing campaigns. It is customizable to meet your needs, no matter what industry you’re in or what the individual needs of your division or business unit are.