Do Social Media friends influence buying?

The basic outcome; yes people influence each other through their networks. On the other hand; what’s new? Humans are social animals that live in groups. In this research there are leaders (12%), followers (40%) and laggards (48%). Leaders keep moving on (revenue -14%), the followers imitate (revenue +5%) and the laggards (revenue change 0%), well, just lag unaffected. “Keeping up with the Joneses” is as always the game being played by customers and this can play tricks on your ROI from marketing.

As the researchers point out there is still a lot of groundwork to be done. The last paragraph of their conclusion:

Our findings are relevant for social networking sites and large advertisers. The members in high status group have an influence on those in the middle status group for the diffusion of a new product. However, a successful diffusion in the middle status segment may make high status members lose interest in the new product. This interplay of product diffusion and customer segmentation leaves much room for future research.

To my knowledge this is the first scientific research done on the effects of social media in terms of revenue effects. The  research and report “Do friends influence purchases in a social network?” is crafted out by Raghuram Iyengar, Sangman Han and Sunil Gupta. It is a free download from Harvard Business School.


Is er licht in de marketing tunnel?

Hier word ik niet vrolijk van. Recent heeft de CMOCouncil (gezaghebbende club van Amerikaanse Chief Marketing Officers) haar jaarlijkse Marketing Outlook gepubliceerd. (Korte registratie en gratis downloaden.) Hoe was het in marketingland in 2008 en hoe wordt het in 2009? Marketing wordt steeds moeilijker en complexer en de Chiefs zitten als kreeften in een pan met water. Lees ook het no-nonsense commentaar van Jim Sterne.

Jeff Jonas (IBM topdog) Explores the Nature of Data

…. his first principle. “If you do not treat new data in your enterprise as part of a question, you will never know the patterns, unless someone asks.”

… Jonas calls enterprise amnesia. “The smartest your organization can be is the net sum of its perceptions.”

Getting smarter by asking questions with every new piece of data is the same as putting a picture puzzle together, Jonas said. This is something that Jonas calls persistent context. “You find one piece that’s simply blades of grass, but this is the piece that connects the windmill scene to the alligator scene,” he says. “Without this one piece that you asked about, you’d have no way of knowing these two scenes are connected.”

The Four Hundred–Jeff Jonas Explores the Nature of Data in COMMON Keynote

Why think?

Niet gesponsored!

Vele handen maken licht werk.

Investigate your MP’s expenses.

De bonnetjesaffaire in Engeland. Alle declaraties zitten in een ‘schoenendoos’. Het zijn er zoveel dat er geen peil op te trekken is. Wat doet The Guardian? Zij roept lezers op om allemaal een stapeltje op te pakken en te turven. Uniek in de wereld!

10 Things Your CFO Should Know About Measuring Marketing Effectiveness | MarketingNPV

10 Things Your CFO Should Know About Measuring Marketing Effectiveness | MarketingNPV.

Een hechte relatie met Finance is niet bepaald gangbaar in de meeste organisaties. Waarom daar meer aandacht voor zou moeten zijn en welke agenda je zou moeten hanteren wordt in dit artikel uitgelegd. Het is natuurlijk logisch als je het hebt over de feiten van Marketing en de financiële consequenties voor de ‘bottom line”.  Je kunt er meer budget door krijgen!

The basics in marketing

No matter how many facts we have available we should realize that the fundamentals of marketing are based on basic human needs. This is what makes marketing such a fascinating area of work.