Measuring Similarity between Brands using Followers' Post in Social Media
This addresses brand marketing and recommendation systems by providing a method to predict co-purchase and interest, though it is incremental as it builds on existing social media analysis techniques.
The paper tackled the problem of measuring brand similarity by analyzing followers' social media posts, achieving a correlation of over 0.53 in predicting user interest in brands.
In this paper, we propose a new measure to estimate the similarity between brands via posts of brands' followers on social network services (SNS). Our method was developed with the intention of exploring the brands that customers are likely to jointly purchase. Nowadays, brands use social media for targeted advertising because influencing users' preferences can greatly affect the trends in sales. We assume that data on SNS allows us to make quantitative comparisons between brands. Our proposed algorithm analyzes the daily photos and hashtags posted by each brand's followers. By clustering them and converting them to histograms, we can calculate the similarity between brands. We evaluated our proposed algorithm with purchase logs, credit card information, and answers to the questionnaires. The experimental results show that the purchase data maintained by a mall or a credit card company can predict the co-purchase very well, but not the customer's willingness to buy products of new brands. On the other hand, our method can predict the users' interest on brands with a correlation value over 0.53, which is pretty high considering that such interest to brands are high subjective and individual dependent.