The Future of Social Influence in a Social Capital WorldPresentation Transcript
Social Influence is the KILLER APP to Social Capital
A consumer who has a greater than average impact through word-of-mouth in a relevant marketplace
Figuring out Social Influence to derive business value has been challenging
There is no standard for defining the influence of the online consumer
Technology isn’t there yet
Companies are frustrated or worse yet basing decisions on incomplete metrics
Social influence continues to Grow in Importance
Social enables: Customer acquisition Customer loyalty Better product development Hyper-personalized marketing Improved customer service Higher sales Recommendations from family and friends trump all other consumer touchpointswhen it comes to influencing purchases. Inner circle trumps at decision time 58% of Americans say that people that they know well and trust are the most important single factor in the final decision on major purchases.
What percent of social conversations lead to purchase intent? Credibility Purchase Pass-Along Base: Brand conversations across all categories (n=105,450) Source: TalkTrack®, January – December 2010
The Shift to Influence Metrics
Understanding Social Influence Reach
Reflects the potential number of impressions an author can generate
Amount of relevant posts an author contributes to the community
How much activity is generated when an author publishes relevant content
The importance of a person in a community
Community Rank Which consumers have influence in a given community
Community Rank Authors with strong “Influence Rank” have more and deeper connections to others
Discussion Authority helps identify which parts of automobile conversations the author participates in. This provides a more granular look into what made the author relevant.
Centrality – assessment of community strength which considers links, # of authors, and quality of sites being linked to/from.
Page Views and Traffic ranking calculations.
Author Activity = ranking based on total # of posts by author. Site Activity = ranking based on total site volume.
Term Cloud showing what else the author talks about.
Influence Rank shows where the author ranks from the list of top automobile authors.
Consumer Influence 2.0: The Age of confluence Intersection of online and offline consumer data and intelligence Game changing technology integration: Semantic & Social Behavior mapping across communities and channels
The future is Predicative Analysis Social Influence Brands are flocking to … find, reward and recruit their most-influential consumers, … (and) the push to measure influence shows no signs of stopping. —Greg Shove, Halogen Network & Kohlberg Ventures