American Express recently teamed up with Twitter and a number of retail partners, including H&M and Best Buy, to offer its customers the chance to get discounts by tweeting specific hashtags from the retailers. Jonathan Lakin, CEO at Global Dawn, discusses how social media is providing a rich mine of data for retailers…
The news that retailers such as H&M and Best Buy are signing up to an American Express Twitter discount scheme is a clear indicator that retailers are tapping into the ‘social graph’ and becoming increasingly social and data driven.
Whereas in the past retailers would retrieve their customer information from loyalty cards and till receipts, social media has opened up the opportunity to gather consumer data through their online shopping behaviour.
When digital footprints of customers can be analysed this allows retailers to market to their preferences in real-time, resulting in increased conversion rates, and enhanced customer satisfaction.
Being able to link Twitter and American Express account details will allow retailers to understand purchasing habits and deliver a service which offers discounts and information based on products of interest.
Being able to target campaigns and offer discounts like this using social media shows that retailers are approaching a threshold in a data revolution which points dramatically towards social.
By Jonathan Lakin
CEO
Global Dawnhttp://www.globaldawn.co/
Follow Netimperative on Twitter
