Maximizing Cyber 5 Performance: Key Social Audience Insights with PriceSpider and ListenFirst
Recently, Jordan Mitchell, Client Strategist at ListenFirst, and Rae Guimond, Director of Strategy and Enablement at PriceSpider, delved into the power of using social listening and social commerce data effectively to drive brand strategies and optimize customer engagement.
Why Focus on Social Listening and Social Shopping for Cyber 5 and Beyond?
Social media platforms are the number 1 place where shoppers are discovering products and brands online. With an estimated 5.2 billion social shoppers in the world–a number close to the number of 18-year-olds worldwide–social represents an immense opportunity for brands to capture engagement, accelerate shopper journeys, and turn intent into purchases and loyalty.
6 Can’t-Miss Social Shopping Insights
Here’s a wrap-up of the key points discussed in the webinar, highlighting how brands can significantly benefit from layered social and commerce data insights from platforms like ListenFirst and PriceSpider. For those looking to elevate their brand strategy using data-driven insights, please revisit the full webinar here.
Learning from Shifting Shopper Sentiment
1. Promotional Fatigue
Insight: Increasingly, consumers are bombarded with promotions across all channels, leading to promotional fatigue. This desensitization has contributed to lower engagement rates and a notable decrease in the impact of traditional sales strategies.
Actionable Recommendation: Brands should consider creating more personalized, value-driven content that focuses on building relationships rather than pushing sales. Leveraging storytelling and engaging directly with consumers can refresh interest and engagement, particularly across Health and Beauty categories and social campaigns across TikTok, Instagram, and Facebook.
2. Sustainability and Overconsumption Concerns
Insight: There’s a growing consumer consciousness around sustainability and the negative effects of overconsumption. Shoppers are more likely to support brands that demonstrate a genuine commitment to minimizing environmental impacts.
Actionable Recommendation: Brands need to weave sustainability into their core offerings and communicate this commitment transparently. Initiatives could include product lines made from recycled materials or sustainable manufacturing processes and should be highlighted in marketing campaigns. Younger shoppers (Gen Z and Gen Alpha) show more inclination to research and purchase from brands committed to sustainable initiatives.
A look at the volume of post-event activity in the industry shows the CPG industry is most active on Cyber Monday— the top social platform was Instagram, with 38% of daily content on average. Facebook and TikTok followed, with brands sharing fewer posts on TikTok during the first 4 days of Cyber 5.
Building Brand Awareness
3. Keyword and Product Search Trends
Insight: Analysis of search trends reveals shifting consumer interests, such as an uptick in eco-friendly products or home improvement tools. Understanding these interests can guide brands in aligning with customer needs.
Actionable Recommendation: Brands should use these insights to optimize their online content and SEO strategies, focusing on audience targeting across in-lifestyle or lookalike attributes to increase their social campaign awareness among new audiences. Tailoring product descriptions and incorporating trending keywords can improve visibility and attract a targeted audience.
4. Newly Engaged Customers with Purchase Intent
Insight: Identify characteristics of newly engaged customers who show a strong intention to purchase based on recent social engagement and social shopping data. Additionally, analyze purchase intent at the product, category, and retailer level to uncover retailer preference trends. For example, PriceSpider WTB Shoppable solutions offer a unique ability to display omnichannel options, helping with shopper preference discovery and audience retargeting strategies.
Actionable Recommendation: Develop targeted marketing campaigns focusing on authenticity and quality to convert these interested consumers into loyal customers. Utilize personalized messaging and targeted offers based on their interests to enhance conversion rates. Highlight retailer preference trends, such as preferred shopping channels, popular retailers within specific categories, and peak purchasing times. Leverage this data to tailor your approach, ensuring you meet customer needs effectively and capitalize on their shopping preferences.
Omnichannel Team Planning
5. Strengthening Joint Business Planning Conversations with Retailers
Insight: Effective collaboration between brands and retailers is essential for aligning strategies and achieving mutual growth. Joint business planning conversations have become pivotal in understanding and meeting market demands.
Actionable Recommendation: Brands and retailers should strive for open, frequent communication and leverage data analytics to inform their strategies. Workshops and collaborative sessions can foster a more cohesive approach to market challenges.
6. Unlocking and Evolving Marketing Channels
Insight: The digital landscape is constantly evolving, presenting new marketing channels and platforms. Adapting strategies to include emerging technologies and platforms can help brands maintain their competitive edge.
Actionable Recommendation: Brands should explore and experiment with new marketing platforms, such as augmented reality or voice search optimization, to engage with consumers in novel and refreshing ways. Depending on the social channel and audience, brands can encourage clickthrough actions more often using video experiences versus static images. For example, in a recent Meta Facebook A/B test, a brand saw 3.5x higher purchase intent with a video asset.
Quick Lessons and Closing Thoughts
Overall, both PriceSpider and ListenFirst emphasized the importance of continuous adaptation to changing consumer behaviors and market trends, focusing on tailoring campaign goals, content, and engagement strategies to brand and social channel considerations.
For more social listening and social shopping insights, plus how to carry forward insights gained during Cyber 5 and the holiday season into the new year, watch the full webinar here.
About the ListenFirst x PriceSpider Webinar – This data synergy allows brand and social marketers to better understand consumer behavior changes and their choices across different commerce activations channels.
ListenFirst specializes in unlocking the social insights needed to optimize social reporting and content strategies. Brands can expect a deep dive into competitive and industry insights, making it easier to pinpoint what works and what doesn’t in their social media endeavors.
PriceSpider bridges the gap between social listening and social commerce with actionable data captured closer to the purchase point, like driving to retailers via social campaigns and shopper engagement based on clickable actions, leading to valuable purchase intent, shopper behavior, and basket data.
