What is a Purchase Intent Mention?
When someone says something on social media that leads us to conclude they either 1) intend to buy a product/service in the future or 2) recently bought a product/service, we call that a Purchase Intent Mention. Purchase Intent mentions are what makes up our Consumer Spend scoring.
How do you know the person is purchasing?
We very specifically look mentions of the brand/product with phrases indicating purchase intent… like “just got a”, “getting a new”, “bought”, etc
LikeFolio also differentiates between product types, so that a purchase intent mention for an iPhone (e.g. “bought a new iphone”) will be different from the purchase intent mention of a restaurant (e.g. “got reservations at Olive Garden”).
How can I use purchase intent in my research?
Purchase Intent is even more important (and predictive) than consumer buzz and consumer happiness, because it is a live look into actual consumer spending behaviors. For LikeFolio, these are the holy grail. They’re how we find the most solid of opportunities in the market, like this trade on Tesla, or this trend in GoPro.
Fund managers use purchase intent through the LikeFolio API, looking for trends and shifts over time. Others with less computational horsepower utilize LikeFolio On Demand to get the data on demand as part of their research process.
Purchase Intent data is also a critical component of the FREE LikeFolio Letter & Opportunity Alerts product, where we monitor and alert subscribers of major consumer shifts/trends based on our analysis of meaningful movements in purchase intent.