CrowdTwist, a three-year-old startup out of New York City, is using social-media data to shape customer loyalty programs and better understand how social interaction drives spending habits.
The company collected and analyzed data from 115 million social connections and $600 million in online and offline transitions in 2012, from brands like Live Nation, Sony and Fox, to name a few.
Among the valuable (and fascinating) insights: Foursquare users who check in at a client’s location spend an average of five times more than those who do not; users who comment on or rate products online are more likely to redeem loyalty points than those who do not; and the value of rewards have a significant impact on engagement.
The potential for marketing and loyalty program personalization is huge. In fact, the CEO of CrowdTwist suggests the brands aim for “comprehensive loyalty.”
