The New York-based social intelligence company analyzed more than 115 million social data mentions during the three-month period, studying social visibility, general visibility, net sentiment, reach growth and engagement and content, and found Amazon dominated retail industry rankings, followed by eBay and Tesco. Nike and Walmart rounded out the top five. Brandwatch also examined the luxury fashion industry, ranking Chanel, Louis Vuitton and Dior among the top three.
Retail brands analyzed garner an average of 1,873 @mentions a day on Twitter from a base comprising roughly 1.04 million followers, while luxury fashion brands received only 118 from 2.2 million followers. When it comes to Facebook, the average following is around six times that of Twitter, but while the latter draws more audience activity for retailers, the industry actively responds to their followers through the former.
“When assessing social media engagement, it’s not enough to measure the number of posts coming from a company’s social channels. If a brand’s posts aren’t part of a greater audience conversation, the company will seem out of touch with, or worse, indifferent toward its audience’s concerns,” the report said. “Consumers expect that the brands they mention care about their voices. Quickly replying to a consumer’s complaint, question, or praise can ensure that she—and her social network—knows the organization values her thoughts.”
Brandwatch discovered that retail brands responded 9.48% of the time and averaged slightly under five hours per response. Luxury fashion brands replied to the least percentage of their audiences’ @mentions (0.06%) and on the rare occasion that they did it took about 12.5 hours.
“This report exposes how individual industries approach social media differently, providing context around the maturity and strategies behind industries’ social programs,” said James Lovejoy, content and research manager at Brandwatch. “But the study also reveals a lot about how various industries and topics naturally attract specific groups and types of behaviors online.”
For instance, gender share of voices varies by industry. Brandwatch discovered that luxury fashion and retail companies receive more female interaction.
“Industries such as financial services and healthcare face unique cultural and legal obstacles. They may never be discussed as much or have the online presence of retailers or sports teams, but they are adept at gleaning consumer market insights from their social audiences,” Love added.
Brandwatch suggested retail brands use social media to understand what’s resonating with consumers and where and how they’re making purchasing decisions. On the luxury side of things, businesses should capitalize on having one of the largest social media followings to listen and learn from what consumers are saying about trends, products and brands in their industry.