A new way for brands to boost sales with social media

Have retailers been looking at social media all wrong?

Often lost among the chatter about how brands can use these platforms to boost their sales is the inverse argument: How they can use social conversations to predict – and improve – revenue trends.

A new study by Networked Insights, which monitors social conversations across networks including Twitter, YouTube and Reddit, found there’s a correlation between the way consumers talk about certain brand metrics, and a retailer’s same-store sales. The firm determines a brand’s health by gauging customer satisfaction, loyalty and advocacy across social media.