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Why is Social Influence Important?
Transcript of Why is Social Influence Important?
19% more likely to attend a professional sporting event
Perceived Trustworthiness of Various Forms of Advertising
WHITE: Trust completely/somewhat
Google allows people to search for products online
Facebook starts to shift to peer discovery
Twitter enables real-time sharing with friends
Pinterest allows visual aggregation and curation of products
Peer Influence enables trust-based purchasing recommendations at scale
Engagement, word of mouth, managing the message rather than controlling the message. Ability to measure influence.
Compared to the average Internet user, social media users are...
44% more likely to give their opinion on TV programs
45% more likely to go on a date
47% more likely to spend money on clothing, shoes, and accessories
26% more likely to give their opinions on politics and current events
75% more likely to spend money on music
92% recommendations from people I know
consumer opinions posted online
editorial content such as newspaper articles
emails I signed up for
ads on social networks
Peer Recommendations Drive Sales
A Crowdtap poll reveals what has influenced men and women to purchase a new product in the last three months
A friend or family member recommended it online
A friend or family member recommended it in person or by phone
I read about it online or in an article
I learned about it through an advertisement
It was recommended by somebody I follow but don't know online
Drivers of Sharing Comments about Products Socially
To share the deal I got
To share the reasons I bought it
To share how proud I felt
To get friends' opinions
Social Sharing and Consumer Behaviour
Applying Social Media Metrics to the Sales Funnel
There are 5 main categories of social media metrics that can be identified within the sales funnel. It’s important to recognize that philosophically people start at the top of the funnel and work their way down. Ideally, an individual shouldn’t be represented in multiple categories.
Who has Social Influence?
New Influencers and Types of Influence
18% more likely to work out at a gym
How does your company track people before the "engagement" stage of the Sales Funnel? Does your company have a process for ushering people from "engagement" to "action"?
A company can be an influencer too -- as a trusted source of information; an industry leader. How can your company position itself as a voice of authority within your industry?
Social Networks: Individuals can have the same influence an entire magazine once did
Word of Mouth: What used to be neighborhood person-to-person is now international person-to-person.
commenters • trend-spotters
skeptics • passionate fans
subject matter experts
individual social networks