WaveMetrix Links Sales to Online Advocacy

UK social media monitoring firm WaveMetrix has launched a new methodology designed to measure and understand online consumer advocacy.

Founded in 2003, WaveMetrix focuses on capturing and analysing 'buzz', tracking and interpreting customer comments in many languages from a range of social media. The new system has been developed to identify the link between consumer comments about a brand, product or service; and sales performance.

To demonstrate this link, last year WaveMetrix researched online consumer recommendations for the 15 most popular movies in the UK, and compared recommendations with box office sales.

Detailed statistical analysis showed that online consumer advocacy could explain more than a third of box office success. Negative online advocacy was shown to have the most impact on influencing the behaviour of others. The fall in sales performance caused by negative comments was 20% greater than the increase caused by positive ones.

'Measurement and understanding of online advocacy is crucial for brands, as it is a key way they can see the direct impact social media activity has on sales,' stated MD Alan Ault. 'Given the direct relationship between consumer advocacy and sales performance, it is vital that brands take action to increase positive recommendations and reduce negative ones.'

Web site: www.wavemetrix.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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