It’s very rare for anybody to make purchasing decisions in isolation. Whether we realize it or not – whether we like to admit it or not – we are all influenced by a number of external factors which combine with our requirements, desires and core values in the decision making process.
Social Intelligence is a new approach to defining and leveraging consumers’ decision-making. Our purchase decisions are based on a combination of
• Personal/psychological factors
• Social/cultural factors
Personal factors are typically related to demographics, for example gender and age, and behaviour – such as purchase history, individual preferences and needs. Social factors relate to our social neighbourhood, our role in it, our connections and the way people close to us and our surrounding culture affect us. We define ourselves in relation to our surroundings.
Until now, this social aspect of decision making has typically been excluded from marketing analytics, as it’s been too difficult to measure. Yet research and testing proves that utilizing social input in prediction analytics greatly improves the accuracy of understanding the consumer and predicting his or her future behavior.
The goal of marketing campaigns is monetary: to create additional revenue from increasing product sales, acquiring new customers or retaining existing customers. This requires campaigns to influence people’s purchasing decisions, reaching those who have the highest propensity within a particular context, for instance to buy a certain type of product or service, or to churn.
Social Intelligence can accurately calculate this propensity using a variety of inputs about customers, including their social context. In the same process, it also identifies those who are the most influential and can therefore help in promoting the word of mouth effect in the social network.
Following is a set of white papers that provide in-depth understanding of Social Intelligence and how you can take full advantage of it in your business.
A book that helps you to understand the significance of data within social networks and how to utilise the world of social media in your marketing.
Xtract White Paper:
Xtract White Paper: Matching products and customers, June 17th, 2010:
Improving customer satisfaction with predictive analytics in product marketing
Xtract White Paper:
Xtract White Paper: Business-driven Churn Management, May 20th, 2010:
The roadmap to effective and efficient churn management using predictive analytics.
Xtract White Paper:
Xtract White Paper: Helping Prepaid Operators, February 19th, 2010:
helping prepaid operators avoid value-destroying marketing campaigns and increase marketing effectiveness
Xtract White Paper:
Xtract White Paper: Using Social Network Insight To Its Full Extent, February 19th, 2010:
Using Social Network Insight To Its Full Extent – Introducing the concept of Social Revenue
Xtract White Paper:
Who are really your most valuable customers:
Who are really your most valuable customers – Introducing the concept of Social Revenue, February 6th, 2009
Xtract White Paper:
Brands need People and People Need Brands: How social analytics benefit consumers while protecting their privacy, October 30th, 2008
