The fact that social media metrics are important cannot be ignored by business and marketers alike. Maintaining all the right metrics can be quite a task. Loading up on legitimate likes, shares and a vast follower list –takes some planning, or at least the deployment of a secret weapon. Now it has become clear that conversions can be improved when social metrics stack up well. Discover more about improved purchase intent: Visit Famoid.com to reach a larger audience.
Social metrics: What do we know about consumer trust and purchase intent?
According to Koen Pauwels, a marketing professor at Northeastern, not all social media posts are created equal. Together with his research colleagues, they recently showed how brand awareness and consumer satisfaction do not ultimately lead to the creation of purchase intent.
How Owned and Earned Social Media differ
Besides their other findings, the most important to come out of their study, which took place over 270 days and analyzed 45 well-known brands, some with a presence on both American Stock Exchanges, was that not all social media posts have the same impact on creating purchase intent. The consumer mindset was drawn from metrics on Twitter, Facebook, and YouTube and some of the brands included in the research were Toyota, Nike, Netflix and Starbucks.
Brand awareness and customer satisfaction proved to be greatly increased on all the social media platforms that were studied when the content was posted by owned social media (posted by the company that owns the product).
However, earned social media (when consumers share and discuss products on platforms), not only increased brand awareness and customer satisfaction but also increased purchase intent because of increased consumer trust. These findings are very valuable and prove that people trust each other more when making purchase decisions.
Analyzing Social Media to Measure Consumer Trust
Understanding and measuring brand trust is pretty easy and organizations use various methods that include internal (surveys) and external (social media posts, likes and online reviews).
However, it is a fact that happy customers are far less likely to leave a positive review on websites, but with the increased use of social media and sharing, they are also far more likely to hit the share button when they like a product.
Since every successful business relies on customer retention if that is not happening it may be that their trust is not being effectively cultivated or earned. Investing in a content marketing strategy is the only way to boost customer retention rates and to also be able to measure them.
Building Trust through engagement
There are many ways to build consumer trust and include authenticity, consistency, and building relations. These are far more important than relying on conversion. Globally, online consumers trust what their peers are recommending and word-of-mouth has become one of the best forms of advertising. Amazingly, 92% of these online users say that they trust recommendations from family and friends, and just 15% of respondents in surveys say that they don’t let reviews influence their decision.
Engagement metrics are very important and include various categories. These could be likes, comments, shares, etc. They can be divided into two groups known as small and high engagement metrics. These include:
Individual metrics – likes, comments, and retweets give the total number of engagements.
Post engagement rate – engagements are divided by impressions to gauge interest in the post.
Organic mentions – these are mentions that are not part of a reply or prompting and are a good indication of brand awareness.
Looking at one of these metrics is not enough to put any campaign into context. Combinations of these metrics give a clear indication of where a campaign may need to be tweaked to reach certain goals.
Is FAMOID.com the tool for building consumer trust?
Increased purchase intent comes through consumer trust, which is mostly due to social media sharing among friends and family. Marketers and companies can now better understand why they cannot leave their social media strategies to chance and that owned campaigns will not change customer intent.
Boosting consumer trust and purchase intent with social can be just a few simple steps away. Famoid is perhaps an unfair advantage to marketing agencies given the vast list of social media services that it provides. With social networking support and a 24 hour per day – 7 days a week support service, they are always available to help with any queries.
Social media is where marketers can encourage engagement ensuring through clever campaigns that encourage responses and sharing. FAMOID is a popular partner to help agencies and businesses make campaigns go viral and to build the required consumer trust that increases purchase intent.
Most businesses need a helping hand to get ahead with metrics: more likes and more followers. There is a lot to do on a day to day basis: from keeping count of the followers and post engagement percentages, and everything in-between, every business needs to keep score so that they can stay on track with their goals.
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