Key Value of Social Derived From Consumer Purchase Behavior

Crimson Hexagon Speaks at 2015 BWG Social Conversion Forum


Crimson SVP of Product, Errol Apostolopoulos, paraphrased Amazon founder Jeff Bezos’ formulation of a brand as “what other people say about you when you’re not in the room” at last week’s BWG Social Conversion Forum in New York City on January 15.
The Social Conversion Forum brings together leading influencers who successfully leverage social media as a critical component of their marketing strategy. Apostolopoulos, charged with leading product vision at Crimson Hexagon, spoke on a panel about “Moving From Social to Predictive Analytics”, specifically on how businesses can measure & achieve ROI in their marketing initiatives using social. Errol was joined by panelists from Citi, Univision, Henry Schein, and Scripps.
Key to our philosophy at Crimson Hexagon is that social media is the largest set of unsolicited consumer opinions. Errol shared with the BWG group how companies can leverage social media analytics to access & aggregate these consumer opinions into actionable insights for future marketing. CEO of global social media agency Attention (and Crimson customer), Curtis Hougland, spoke later in the afternoon – more on this below – and echoed the power of this approach and the message apparently resonated with some in the audience:

Whether you’re looking to discover how consumers are talking about your company, your competition, your industry generally, or how these conversations have changed over time, the research & measurement tools available in 2015 have robustly evolved to meet the enterprise’s sophisticated needs. According to Errol & the panel, the challenge will be to get this research data into the right Executive’s hands so that it can be acted on, as well as measuring the business impact that a given social data set implies.
Other panels focused on effective B2B social media strategies, real-time strategy for Twitter, social command centers, how social media is changing the purchasing journey, engaging millenials, & Facebook SPMDs.
A highlight was hearing from Curtis Hougland in a 1:1 Q&A with BWG Founder, Bill Williams, about the evolution of social media & how brands can adjust & thrive in the future. According to Hougland, Facebook – despite dwarfing the competition as the world’s most popular social media platform – is not where marketers should focus their energy. Instead, the Attention CEO suggested, brands must adopt a multi-platform focus on purchase intent. Seemingly, social media platforms are moving toward a focus on purchase intent as well:

We enjoyed joining BWG to talk about how to leverage social for marketing ROI and hear from other leaders in the social & marketing space. For more about the Social Conversion Forum – including top-shared photos & tweets – please visit the event’s Eventifier page or Storify recap.

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