Purchase intent & social media
Social media has been shown to increase brand recognition, trust, and loyalty. Leading to higher conversion rates, and more sales. But have you ever wondered if your facebook page were increasing the purchase intent of your users?
Obviously, there is a chance it does. As your audience gets to know your brand better through your posts, is more often exposed to it through its feed… their intention to purchase from you might grow.
“87 percent [of satisfied customers] indicate that the online social interaction with the company “positively impacted” their likelihood to purchase from that company.” according to a J.D Power study.
Most companies are already counting likes, number of followers… Those can indeed indicate whether your page (its content but also the personality of your brand.) is appreciated but do not tell you if your page is just entertaining or if it also make people wanna buy.
To really understand how your page impacts your business, measuring the purchase intent would be a good indicator.
What is purchase intent?
Purchase intent is the probability that someone will purchase a product or service. It could be a generic product like “a car” or a specific brand. Here we’re gonna focus on the purchase intent for a specific brand.
The main point of measuring the purchase intent on your social media is to understand if your page affects your sales. But also to discover which kind of post, behavior, strategy drives purchase intents the most.
Indeed, the ROI in social media is often tricky to measure and putting a monetary value on it is not the easiest thing.
The starting point is to understand if it affects it. It will let you know if your digital spending is really worth it.
If not, it doesn’t mean you should just drop it, as social media are essential to a company nowadays, but that you should change your social media strategy instead of keeping on spending for nothing.
You can now focus on discovering what’s working the best. Understanding what kind of posts and behavior makes people wanna buy is a valuable insight.
The interesting thing is also to follow the evolution of this result to observe if it increased after a specific ad, or post. You can then adapt your strategy accordingly.
How can I measure the purchase intent of my social media users?
Different methods exist to measure it. You can track what people spontaneously say on their profiles, or you can ask them if they intend to purchase.
To track purchase intent, you’ll have to look for keywords or expressions usually beginning with “I want” “I need”, “I’m gonna get/buy” and your product(s). With this you can make an approximative prediction of the purchase intent.
The other way is to ask users. How? You could directly question your audience in a post, you can send a link to a survey or, and that’s probably the best option, ask them on messenger. Messenger is a more personal approach and can get a higher response rate than an off-page survey. You’ll also get a wider reach as some users will be less reluctant to answering privately than to post their answers in a comment.
With Queeco, survey your users easily on facebook messenger. Then follow your results over time with our timeline.
Install the messenger bot in less than 5 minutes and start running the study right away. In addition, study your Net Promoter score, trust score, global satisfaction and the quality and relevance of your content.