Transforming your business into a social business means more than simply monitoring mentions and buzz. It means being able to further categorize the large volumes of conversation for consumer expressions around intentions and preferences. It means better audience segmentation and surfacing demographic details.
Here at CI, we are actively working with clients to not only analyze social media conversation but to make it relevant to their business. To that end, we are creating indexes that focus more on how engaged a customer is rather than simply volume of activity.
For example, our Retail Conversation Index is a weighted, indexed sum of three metrics:
- Overall Volume – amount of activity over a select period of time
- Engaged Shoppers- measures the number of mentions from shoppers, who are currently at, recently or going to each retailer.
- Active Shoppers – represent the # of people who expressed active engagement, identified by shoppers, who expressed purchase intent, affinity or favorite.
Best Buy manages change across a multitude of dimensions. Executives found that dialogues with customers can be scary.
“The question isn’t whether social services on the Web influence how we spend money, but rather how they affect your habits. At the end of the day businesses can’t survive without making money, and that’s why we’re seeing a flood of social services that might push you over the ledge to buy that new shiny thing that you probably can’t afford. That’s how they’re going to make money, after all.”
Full Story: TheNextWeb
A neuroscience technology breakthrough at the University of California, Berkeley, has major implications for the future of branding and marketing.
It finally happened. Neuroscience technology can now reliably read our minds. It’s an accepted fact that is no longer in dispute. Scientists working at the University of California, Berkeley, have successfully decoded brain activities into audible sounds. In other words, our inner thoughts can be translated into sounds clearly articulated by a computer. Needless to say, there are a whole lot of caveats attached to this claim. For a start, in order to make this kind of reading possible, it requires some 256 electrodes be surgically attached to the scalps of at least 15 volunteers. Furthermore, there’s a minefield of ethical issues attached to this endeavor that needs to be sorted out.
I keep hearing that Yahoo is going to sell Right Media and Apt and their whole technology stack, in order to reduce the costs associated with their ad business. This isn’t surprising, it was often discussed when I was at the company and I’ve heard it has been a constant question in the years…