Engagement Labs Analytics About Value of Consumer Conversations Published in MIT Sloan Management Review
Analytics Shows That Both Online and Offline Consumer Conversations Drive Purchase Decisions but Require Separate Marketing Strategies
The MIT Sloan article titled “Deriving Value From Conversations About Your Brand,” is based on analytics conducted and authored by three executives of Engagement Labs in conjunction with Koen Pauwels, Professor of Marketing at Northeastern University. The article demonstrates that in most cases there was little correlation between what consumers say online and offline about brands, even though both streams of conversation can have big effects on a company’s sales.
The analysis is based on Engagement Labs’ proprietary TotalSocial data and analytics, reveals that 19 percent of U.S. consumer purchases are traced to consumers talking about brands online and offline.
In addition, the analytics determined correlations between consumer conversations and purchases for 175 brands across multiple sectors such as beauty, personal care, retail, technology and food, as well as more detailed analytics of 21 brands, including Apple, Intel, A&W, Campbell’s, Lay’s, Red Bull, and Revlon.
“MIT Sloan Management Review publishes top quality content, and we are delighted to be able to contribute and join a highly esteemed community of authors and researchers in the fields of business and marketing,” said Ed Keller, CEO, Engagement Labs. “I urge Fortune 500 marketing leaders to read our report and analytics that provide guidance for driving growth through online and offline social strategies.”
Read the full MarTech Series article, here.
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