|By Business Wire||
|April 10, 2014 09:09 AM EDT||
Lithium Technologies customer communities drive almost 12 times more same-session revenue than other social channels including Facebook, Twitter, Pinterest, YouTube and Google+ combined, according to new research released today. Customers who engage with a brand through its Lithium community also are significantly more loyal, engaged and satisfied.
Lithium communities generate a 67 percent lift in a brand’s Net Promoter Score (NPS) compared to those customers who are not engaged with the brand socially, the study revealed.
Lithium’s analysis of the study shows that the communities impacted more than $500 million in sales in a single year – a particularly significant finding since the study represented a sample of only about a third of total Lithium community users.
According to a Lithium-commissioned study by Millward Brown Digital that focused on a cross section of U.S. Lithium customers and about a third of Lithium community users over a 13-month period, Lithium communities drove1:
- 65 percent of all social commerce sales
- 52 percent of all social traffic
- 7.8 times more shoppers than other social channels
- 11.8 times more sales than other social channels
- more than $500 million in direct and influenced sales for the brands studied2
The power to convert and keep on influencing
Lithium communities clearly have the power to convert shoppers into buyers and to continue influencing consumers long after a visit to the community. Sales conversion approximately doubled after a customer’s first visit to a Lithium community, the study showed, and continued to influence up to four times as many shoppers as other social channels within 30 days of a first visit.
Engaged Consumers Purchase More Frequently
What’s more, Lithium community users are also more likely to purchase again: 79 percent of visitors to a Lithium community said they intend to purchase again from the company in the future. That’s fully 7 percentage points higher than shoppers who didn’t engage at all with a company socially and also more than all other social media channels combined.
“This research proves what our customers have long known: Lithium communities help drive sales by connecting consumers with rich content and trusted peer recommendations when they need it most,” said Lithium President and Chief Executive Officer Rob Tarkoff.
Trust and loyalty
The study underscored the importance of building trusted relationships with customers, finding that Lithium communities have a strong positive impact on brand perceptions and customer loyalty.
Interviews with more than 4,000 customers conducted as part of the study further reinforced how important brand reputation and trust are to consumers. The data revealed that of surveyed consumers:
- 72 percent value when a brand has a community
- 79 percent consider brand reputation in making their purchasing decision
- 88 percent purchase from brands they trust
Lithium’s recent acquisition of Klout delivers an unprecedented ability to combine trusted content with advice from reputable peers at the point of sale, increasing consumers’ confidence in their purchases.
The study examined traffic, revenue, purchase influence and affinity attributable to Lithium communities and third-party social sites.
Survey conducted by Millward Brown Digital. For the period October 2012 to October 2013, Millward Brown Digital conducted customer surveys and tracked user behavior across all social properties operated by Lithium customers and representing approximately one third of Lithium’s user base among major U.S. retail, technology, telecommunications and financial service brands. Conversion rates, sales revenue, purchase influence and brand affinity were studied after consumers visited a Lithium branded community, and after consumers visited other social media properties operated by the same brand.
About Lithium Technologies
Lithium's software helps companies reinvent how they connect with their customers. Lithium works with more than 300 of the world's best brands — including AT&T, Best Buy, Indosat, Sephora, Skype and Telstra — to respond on social networks and to build trusted content on a community they own. The 100% SaaS-based Lithium Social Customer Experience™ platform enables brands to build and engage vibrant customer communities to drive sales, reduce service costs, accelerate innovation and grow brand advocacy. For more information, visit lithium.com, or connect with us on Twitter, Facebook and our own community. Lithium is privately held with corporate headquarters in San Francisco and offices across Europe, Asia and Australia.
The Lithium® logo is a registered Service Mark of Lithium Technologies. All trademarks and product names are the property of their respective owners.
1 Based on study of branded Lithium community pages and branded social pages during the observed time period. Shopping activity had to have occurred within 20 minutes of visiting a Lithium community page or a branded social page.
2 Sales value estimate by Lithium based on sales multiplier observed by Millward Brown Digital.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Dec. 1, 2015 08:00 AM EST Reads: 394
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application del...
Dec. 1, 2015 08:00 AM EST Reads: 396
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Dec. 1, 2015 08:00 AM EST Reads: 250
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
Dec. 1, 2015 06:30 AM EST Reads: 514
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Dec. 1, 2015 06:00 AM EST Reads: 271
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Dec. 1, 2015 05:00 AM EST Reads: 620
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Dec. 1, 2015 05:00 AM EST Reads: 359
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Dec. 1, 2015 04:45 AM EST Reads: 458
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
Dec. 1, 2015 04:15 AM EST
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Dec. 1, 2015 03:30 AM EST Reads: 532
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Dec. 1, 2015 03:00 AM EST Reads: 110
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Dec. 1, 2015 03:00 AM EST Reads: 469
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Dec. 1, 2015 03:00 AM EST Reads: 470
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Dec. 1, 2015 01:15 AM EST Reads: 125
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Dec. 1, 2015 01:00 AM EST Reads: 436