Social Influence Media Alok Kumar Singh Pondicherry University
It is facebook which caused the world’s worst recession after the great depression. But how?
What Radio took 38 yrs. to reach
What Television took 13 years to reach
What Internet took 4 yrs. to reach
What I pod took 3yrs. to reach
It is 50 million user that we are talking about.
It took facebook less than one year to reach 200 million users. That’s a clear lead over its predecessors. Facebook reduced office productivity by 50% and thus caused recession.
Three most populous country of the world are 1 2 INDIA 3
Prior to the internet the last technology that had any real effect on the way people sat down and talked was table. Prof. Clay Shirky
Old concept The purpose of a business is to create a customer. Peter Drucker
New Concept The purpose of a business is to create customers who in turn create customers.
Welcome to Social media
Half the marketing is done if you have identified the right influential groups.
Social Influence Marketing It is about recognizing, accounting and tapping into the fact that as a potential consumer makes a purchasing decision, he or she is being influenced by different circles of people through conversations with them, both online and offline.
Role of influencers in the marketing funnel Source: www.razorfish.com
Implications for Brands Brands must know who influences perception Brands must know the effect of influencers throughout the marketing funnel Known peer influencers matter most at the bottom of the funnel Don’t forget the impact of offline influencers
Why SIM ? Brands must socialize with consumers Brands must develop a credible social voice Brands must provide a return on emotion to their consumers.
Influencers drive brand affinity Key influencers have their own blogs, huge Twitter followings and rarely know their audiences personally. Social influencers are in consumer’s social graph and influence brand affinity and purchasing decisions through consumer reviews, by updating their own status and Twitter feeds and commenting on blogs and forums. Peer Influencers Social Influencers Key Influencers
Known Peer Influencers Are the closest to both the purchasing decision and to the consumer. They are typically family members, or part of the consumer’s inner circle. They influence the purchasing decision most directly.
Measuring Social Influence Marketing Social Influence Marketing (SIM) Score, which measures two critical attributes: The total share of consumer conversations your brand has online- a measure of reach. The degree to which consumers like or dislike your brand when they talk to each other about you online - consumer sentiment - a measure of likeability
CALCULATION SIM Score = Net Sentiment for the Brand/Net Sentiment for the Industry The components of the above formula are: Net Sentiment for the Brand = (Positive + Neutral Conversations – Negative Conversations) /Total Conversations for the Brand Net Sentiment for the Industry = (Positive + Neutral Conversations – Negative Conversations) /Total Conversations for the Industry Source: www.razorfish.com
Brands have to dance with the tunes of customer. Are social websites just a place ?