In a polarized audience market like gaming consoles, understanding drivers for ‘wanting to purchase’ and more importantly reasons for ‘not wanting to buy’ is critical for both converting and retaining customers.
The Before State
Promotions were focused on the new controller, high-end graphics and price cuts, but the company fell short of targeted conversion rates by 15%.
The LatentView Solution
Social media data was analyzed to identify ‘what drove purchase’ and ‘what factors dissuaded potential customers from purchasing’ using Natural Language Processing (NLP) algorithms.
The After State
With the help of social insights, the client reoriented the promotion campaign by bundling exclusive games with console devices thus inducing an increase of 4% in purchase conversions.