An interesting piece in eMarketer today about why folks follow brands on facebook. (Link is here).
The second most cited reason: To receive coupons and discount offers.
Whats that mean to us, the RevenueNation? Simple. People are looking for ways to express brand loyalty and want to be rewarded for doing so. Aside hearing of discounts directly from brands, folks rely very heavily on word-of-mouth from friends to cut through the advertising clutter, in fact, McKinsey states that:
"...our research shows that a high-impact recommendation—from a trusted friend conveying a relevant message, for example—is up to 50 times more likely to trigger a purchase than is a low-impact recommendation."
Word of Mouth Marketing is a very powerful channel as you all know, yet it is largely unharnessed on the web because tools to make 1:1 recommendations are scarce and to difficult to use. RN makes it easy for you to feed this consumer hunger for recommendations and discounts by making these recommendations (and getting rewarded for doing so!).
RevenueNation allows all of its Brand Advocates to recommend products and services to friends and benefit when their friends take action. RN also offers discounts to our advocates for recommending products and brands so our Brand Advocates remain loyal to the brands they advocate.
We think the RevenueNation model will help make online word-of mouth marketing a more successful and legitimate channel...so join us if you haven't already!