NEW YORK, Aug. 27, 2019 /PRNewswire/ -- Engagement Labs (TSXV: EL), an industry-leading data and analytics firm that provides social intelligence for Fortune 500 companies, has released a new report, "360° Social Analytics: Going Beyond Social Media to Grow Brands," that reveals the surprising degree to which online and offline conversations operate independently from each other; in fact, there is virtually no correlation between online and offline sentiment.
As more marketing landscape challenges arise for brands, from the decline of advertising from cord cutters to brand controversies in a highly politicized environment — marketers need to look into measurement strategies that treat social media conversations and offline conversations as separate, but equally important channels of consumer experience. Why does this matter? Because conversations among consumers drive about 19 percent of purchases, according to a recent paper published in the MIT Sloan Management Review.
In this report, Engagement Labs undertook a comprehensive analysis, lining up the week-to-week trends for the online and offline conversation trends for 500 brands across multiple sectors such as beauty, personal care, retail, technology, financial services and dining with correlations data for 80 brands, as well as more detailed analytics of Gillette, United Airlines, and Herbal Essences as three case studies.
The Company looked at several key metrics that drive business outcomes, including conversation volume, sentiment, brand sharing (talking about and sharing brand marketing), and influence (connecting with everyday influencers). The report presented that none of those metrics display meaningful correlation between online and offline discussions for brands.
"At a time when social media channels are spreading controversial opinions and outrage, it's vital for marketers to realize that they do not always reflect consumer sentiment in the real world," said Ed Keller, CEO of Engagement Labs. "Overreacting to the latest social media blow-up poses major risks for brands. It is vital to have a holistic measurement system that incorporates both online and offline conversations," added Keller.
The full white paper, "360° Social Analytics: Going Beyond Social Media to Grow Brands" is available for download at http://bit.ly/2NmAeGq.
To learn more about Engagement Labs and learn the strategies for increasing consumer engagement in real-life and online, reach out at: email@example.com.
Connect with us on Twitter: @engagementlabs #totalsocial
About the Study
The new white paper is based on data from TotalSocial, an analytics platform that contains weekly online and offline conversation data for nearly 600 brands. For the purpose of this paper, correlation estimates were calculated for 501 brands on data for 2015 and 2016, comparing online and offline conversation metrics for each brand. The results of this analysis were first published in the Journal of Advertising Research, in a paper that was named "Best Practitioner Paper" for 2017.
Additional detail available at www.engagementlabs.com.
About Engagement Labs
Engagement Labs (TSXV: EL) is an industry-leading data and analytics firm that provides social intelligence for Fortune 500 brands and companies. The Company's TotalSocial® platform focuses on the entire social ecosystem by combining powerful online (social media) and offline (word of mouth) data with predictive analytics. Engagement Labs has a proprietary ten-year database of unique brand, industry and competitive intelligence, matched with its cutting-edge predictive analytics that use machine learning and artificial intelligence to reveal the social metrics that increase marketing ROI and top line revenue for its diverse group of clients.
TotalSocial® is a premier data and analytics platform that provides brands with unique insights, improved marketing ROI and strategies to grow revenue. Fueled by actionable online and offline data, TotalSocial is the only platform that encompasses and listens to the entire social ecosystem. TotalSocial offers unique, proprietary data about brands, its industry and competitors. With cutting-edge diagnostics, patent-pending predictive analytics and machine learning, TotalSocial identifies business opportunities and provides recommendations and a roadmap to grow revenue and achieve business and marketing goals.
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SOURCE Engagement Labs