A great article on MediaPost's Research brief blog outlines the ways the Hispanic population is using digital media and technology in their lives.
Click on over to see the whole post and the data, here is a juicy tidbit to wet your appetite:
Word of Mouth in the digital age is no longer neighbors talking over the fence, and Hispanics appear to be embracing digital means. While face-to-face remains the #1 way for them to give or seek advice about products and services, things like email, text and mobile are making their way on the list.
A recent article in the Atlantic outlines the power Mom's have in the blogoshpere.
You should read the whole post here, but here is a choice bit of information:
"Women are the major users of Facebook, Twitter, blogs, Pinterest, and every social media site except YouTube. They are engagers. They are sharers. It is natural to a women's personality to say why she buys something and why she like it. Women love to share news about the bargains that they got. They love deals and they love to talk about it."
The whitepaper a great read and worth the time (if you have it). If you don't, the image can serve as your cliff's notes. Happy Reading!:
This is a great illustration of the value and influence of social commerce. The infographic says it all:
- Identify your strongest customers by asking them how likely they are to recommend your products. You can use the Net Promoter Score (NPS) from Bain to determine the rating or use your own home grown system
- Once you have ID'd these customers, ask them to write a review about their experience with your products
- Once they have written a review, ask them to share it (Facebook is the most popular way folks share these reviews).
Its a very instructive read and the article highlights one of the primary players in the Brand Advocacy space for brands, Zuberance. They have a great solution to create 'advocate armies', put them to work for you, and track the efficacy of your brand's activities.
We are thrilled to announce that we are now taking applications for our Beta. Our tech team has been hard at work pulling together loose ends and prepping the service for the Beta.
We are looking for some folks who will test out the service and tell us what they think of our offering.
We only ask that you provide us with bug reports, feature requests, and fill out a survey at the end of the 30 day beta.
The RevenueNation Beta application form is located here.
Once you have applied, we will get back with you shortly with an invite and other pertinent details.
We look forward to your particiaption and feedback!
Another good one from emarketer. They outline some recent research about what channels consumers use to share information online. The main highlights are below:
- For the April 2011 “Content is the Fuel of the Social Web” report, AOLand Nielsen Online analyzed more than 10,000 social media messages to see how consumers share content online. The study found that 93% of internet users turn to email to share content, while 89% use social networks and 82% use blogs.
- Social networks are the top method for sharing content with friends, as 92% of users do so, while email is the most popular way to share with family (86%) and colleagues (26%). In sharing online content with the general public, consumers prefer to use message boards (51%) or blogs (41%).
- Paul Adams, global brand experience manager at Facebook, said that the average person has four different friend or influence groups. Each has an average of 10 people and they are based around life stages, experiences or hobbies.
- the study found that 60% of shares were links to published content, such as a news or media site. Meanwhile, 36% of shares consisted of embedded content, such as branded experiences on a social network, enabling users to share content without leaving the platform or social network.
So what does it all mean for those of you who use word-of-mouth to give and receive recommendations?
- People choose the word-of-mouth channel that is most contextually relevant to the folks they are sharing with. Mom and Dad probably get and send emails. Younger, more tech savvy folks are more likely using Twitter or Facebook because thats where their friends are.
- The high level take-away for RevenueNation Advocates is that you should be capable of communicating in many channels, and you should choose which based on the comfort level of the recipient.
- You need to be thinking: Where is your recipient most likely to see and take action on your recommendation? What medium do they prefer to receive content?
- While you consider the relevance of the actual recommendation, you also need to think about which channels are appropriate to who and what you are passing on via word-of-mouth marketing.
When you are talking about folks who influence purchase decisions via word-of-mouth marketing, no conversation is complete without talking about female influencers. These ladies have the power, energy and influence to get people excited about what they recommend and they do it because they genuinely enjoy helping out and being known as an expert.
Some quick highlights for your skimming pleasure:
- The smallest groups overall were the most active online and contributed the most to online word-of-mouth.
- Social expressionistas, which make up just 8% of the online female population, were overwhelmingly the most likely to say that they use the internet as a way to express their views and that they interact online with people like themselves. (According to AOL, the social expressionista “defines herself as using the web to connect with others and to express her views, her art, and her projects.”)
- Other groups, like shopsessives (7%), businesswireds (15%) and alpha trendsetters (13%) liked spreading the word about brands more, but the research suggested they were somewhat less likely to do so on the web.
- Social expressionistas' love of spreading the word online translates to a love of social networking sites. Nearly nine in 10 social expressionistas said social networks were their favorite type of site, 13 percentage points above the next group, alpha trendsetters. Social networks are vital to them as the location where they interact with like-minded people and express their views.
- According to the report, the best way for marketers to encourage buzz among social expressionistas is to make them part of a dialogue and give them the opportunity to play with brand assets and use them to create their own content
So what does this mean for marketers and influencers? Pretty simple, actually:
To harness the power of the female influence voice, you need to get them access to your product, give them them means to promote easily and quickly, and to get them over the hump, you should consider giving them some additional incentives for talking product...things like discounts or commissions on sales are always effective.
Marketers, feel free to reach out to us if you want to set up a campaign.
Ladies, you are always welcome as a RevenueNation Brand Advocate. Click here to sign up for the beta...
We love smartphone-toting Moms here at RevenueNation. They are very influential and are very well respected by their peers when it comes to recommendations of products...
The folks at eMarketer have some data about connected Moms from Baby Center that we think the RevenueNation would be interested in seeing:
- Nearly six in 10 moms have a smartphone, vs. 50% of all internet users. Overall, 62% of mom respondents told BabyCenter they use the mobile internet regularly, up from 22% just two years ago.
- Mothers were significantly more likely to access games, social media and health information, and somewhat more likely to check the weather, listen to music or shop via mobile.
- Moms were below average on accessing content like maps, productivity tools, and financial and business information, suggesting they’re sticking to activities to help—or help occupy—their families.
- Activities like these lead smartphone-owning moms to spend an average of 6.1 hours a day with their phone, compared to 2.5 hours among moms with only a feature phone.
- smartphone-owning moms considered ads with coupons (55%) or that featured nearby deals (34%) most appealing
Here is a synopsis of what Moms are up to on their phones:
Another good one from the folks at eMarketer. They pulled together some data from a research shop regarding the expectations brand marketers have regarding their social followers:
According to a July 2010 survey of social media marketers by Millward Brown and Dynamic Logic, the most valuable aspects of social media brand fans go beyond anything with an immediate monetary value. Increased short-term and long-term spend on the brand were the bottom two results.
At the top of the list were the fan’s value as a source of insight and increased loyalty overall. Advocacy and engagement were also important to at least three-quarters of respondents.
Whats most intriguing is the third line of the following graphic. "An increased chance of advocacy/recommendation". To us at RevenueNation, this is the sweetspot. We think that every brand -- large or small -- will eventually create strategies and tactics to build and monitor their own online Word of Mouth marketing just like they do for search and display.
Obviously, we don't feel that just having a facebook or twitter page is a strategy in and of itself. We think brands should engage in consciously designed and architected word of mouth campaigns leveraging dedicated tools set up expressly for this purpose (ahem: RevenueNation).
As we roll our product out of our test phase, we look forward to engaging directly with brands and advertisers looking to their online Word-of Mouth programs just like they run SEM or display campaigns: simply, accurately and with tools to monitor their efficacy.
If you are an advertiser interested in participating in our beta, click here. We look forward to hearing from you!
A new article on emarketer today talks about a dip in the amount of word-of-mouth recommendations occurring online. In the article there are some very interesting stats (quoted):
- "An April 2010 survey from ROI Research found 33% of Twitter users shared product opinions weekly
- About a fifth of Facebook users did the same.
- A Harris Poll taken the same month found 19% of US social media users shared product reviews and recommendations.
- Research has consistently shown figures in the 70% to 80% range for face-to-face discussions."
Also of note:
- "The digital channel used most for product discussions was mobile—when used for conversations, however, not text messages.
- Only 35% of the overall population, and 56% of the young adult population, talked about products and services on social sites."
Here also is a nice overview of the methods used in WOMM:
So why would we post about a seeming downturn in online word-of mouth when thats what we do?
Well, we aim to change the downward trend by making it very easy and rewarding for you to pass recommendations and links to friends online. We maintain that the ease and simplicity that RevenueNation offers will contribute to massive growth in the use of trackable online recommendations over the next few years.
RevenueNation empowers our Advocates (users) by providing easy tools (our offer catalog, tracking links, and knowledge base) and real incentives (you commissions when your friends buy and you get discounts on the products you recommend). We also provide the tools to send (email links to friends, tweet links, etc) and track your recommendations so you can easily see how much you earn and how often your recs get clicked.
We look forward to helping reverse this trend so advertisers can more confidently use the online word-of-mouth channel and our advocates realize more economic and psychic benefits of using word-of-mouth for profit.
Gotta start with the quote on this one:
But the human element remains key to engendering trust. Internet users worldwide reported a nearly 50% increase in their trust of social network contacts giving product recommendations, and a 21% increase for microblog contacts.
Another doozy from eMarketer regarding who gives the most trusted recommendations. The smart folks over there pulled together some research about Word-of-Mouth and those that use it. Here are a couple other nice snippets:
Other research tends to support the traditional view that word-of-mouth from friends, family and other peers is still the most trustworthy way of getting information about products and services. Teen influencers toldKetchum in May that friends with their top source of information
But Edelman’s “Trust Barometer” report for 2011 shows, for the second year in a row, an apparent decline in trust of a “person like me” (from 47% in 2009 to 43% in 2011) and a concomitant rise in trust for experts.
So the real question we all need to answer when we wade through our networks and daily reading is: who do we trust to provide recommendations? Perhaps for financial products, it make s sense to take a "pros" word, but maybe with such items as as smart phones and tablets, we are happier with personal recs from our friends? What do you think?
Lets start off with a stat from the recent emarketer article about earned media:
24% of agencies plan to significantly increase unpaid or earned media investments in 2011
(A quick reminder: Earned media is any media that allows the customer to become the sales channel where the result of the media investment is conversation between consumers and brands. Think Word-of-Mouth-Marketing). See below for clarification:
This is a large number...one quarter of all agencies will spend significantly more on earned media. One quarter of agency spending is a non-trivial amount of revenue coming to our humble channel. This is great news to those involved in the RevenueNation... we are in the earned media business!
The data is just another point of justification that the online word-of-mouth marketing channel is a large part of marketing's future (and that all of the RevenueNation brand advocates are on the bleeding edge of a movement that is reaching full force!)
We look forward to the continued journey!
Today, Google released a Chrome browser feature which will allow users to opt out of tracking cookies. A quote from the post:
Today we are building on this work, and that of others, by allowing you to permanently opt out of ad tracking from all companies that offer opt-outs through the industry self-regulation programs. Keep in mind that once you install the Keep My Opt-Outs extension, your experience of online ads may change: You may see the same ads repeatedly on particular websites, or see ads that are less relevant to you.
So now those consumers that "opt in" to "opt out" are going to see ads that are potentially less relevant to them. Bad for the ad networks, for sure. But I doubt many consumers really care... at this point most of us are banner blind anyway!
But why are we writing about this subject on the RevenueNation blog?
Simple: Personal advice from a trusted source will always cut through the clutter. Accordingly, advice through word-of-mouth will become even more important to those who get that advice (be it the brand or the purchaser).
Technology will always strive to find the "holy grail" of the perfect pitch and timing for every consumer itch, and we will all reap the rewards of such advancements. But, until we find marketing's Holy Grail, well have to rely on good old fashioned human intelligence to tell us what is good, bad, relevant, or a waste of time.
This is why we come to work in the morning. Our goal is to empower you to participate and profit in the online conversation.
There is a nice piece out on eMarketer today that breaks down how new Moms connect and use word-of-mouth marketing. A couple key highlights:
- The most important sources for learning about products boiled down to parenting websites and word-of-mouth from other moms.
- According to research from TRU and Oxygen/NBC Universal, women who are “in transition”—which includes new and expectant moms—are more likely to have a social network profile, have about 43% more social network friends on average, and are more likely to recommend brands and pass on coupons, making them the ideal influencers for marketers to target.
If you are a new Mom, keep in mind that if you make your recommendations using RevenueNation, you'll have some extra cash for formula, diapers, and wipes! Just look on the Offer Catalog and search for MOM category for some of the products that we think fit the bill. As always, be sure to suggest other advertisers you would like to recommend on RevenueNation!
A direct quote from today's eMarketer research snippet: How to influence teen girls online:
Friends and peers are an important part of teen girls’ experience, and Ketchum found they were the first place respondents turned for advice about buying apparel. Friends were the top source of new trend information and also the most influential when it came to making purchase decisions, making the social aspect of shopping key for this demographic.
No big surprises there, we suppose, but what does that really mean? What it means is brands should be seizing the opportunity to harness the recommendation power of these young ladies.
By using RevenueNation to set up a brand advocacy campaign, brands empower young ladies (and young men!) to benefit by the word-of-mouth recommendations they make to friends while building stronger brand loyalty with these folks via product discounts offered through RevenueNation.
If you are looking to get your brand in the hands of motivated teens, click here.
This is very cool. Blue Planet Foundation ran a word-of-mouth campaign that saved Molokai $6.5 Million! This is a great example of how word-of mouth marketing can make the world a better (and greener) place. Check out these stats:
The residents save $200 per swap, based on the life of the bulb. Do that calculation during this three-month engagement with the community and this translates to a savings of 17 gigawatt-hours of electricity. What's more, it prevents more than 16,000 tons of carbon dioxide from ever being emitted.
Even more compelling:
Based on a survey from 300 homes, 60% of participants exchanged bulbs and reported a decrease in their energy bill (about $10 a month). Each participant swapped an average of 15 bulbs. Nearly 90% of the participants felt that the program was effective.
As we all know the power of word-of-mouth is undeniable. The simple sharing of a compelling idea with those in our networks can get folks to act. With RevenueNation, you have the power to easily use online word-of-mouth to let folks know about your products or other brands you really love. And because these recommendations come from someone they trust (you!) , your friends will take action and you can reap the rewards!
Please feel free to submit your own success stories as they happen, the rest of us will want to hear what you did and how you got folks to take action!
The world is changing and all of us that use the web and participate in the online conversation are in the position to profit from our online activities.
The idea is not new...for decades publishers have been profiting from their content by selling ad space along side it. Dead tree media like newspapers have made a killing on this model, yet the winds of change are forcing them to evaluate how they get paid for content that used to be free.
Now that content creation has ben democratized, there is a huge opportunity for those of us that contribute user generated content (UGC) to blogs, sites and social networks. We should be compensated like professional publishers and "semi-pro" publishers like affiliate marketers.
To quote Steve Poland writing an article in TechCrunch called "Twitter and Facebook Turn Everyone into an Affiliate Marketer":
Most recently, it’s not just websites/blogs that are referring sales, but rather individuals themselves, who are using realtime sites like Twitter and Facebook to influence their friends and followers by recommending products to buy, music to listen to, and movies to watch. These realtime discussions are becoming important sources of referral sales and leads for websites—if someone is asking on Twitter what digital camera they should buy, you bet your ass that Amazon.com wants anyone on the Internet responding to that user’s question to be linking to a camera for sale on Amazon.com (and not Walmart.com or BestBuy.com)...
Everyone with access to the Internet today is a Publisher. They are a voice. This has always been the case, but not the way it is now with Microblogging. Individuals were Publishers on a smaller scale via email forwards, email replies, IM, or most recently blog posts. Blogging broadened individual’s view points (influence) up to a global scale—no longer would they only influence just a few friends in a closed-circuit email, but they could influence the masses online. But blogging wasn’t realtime discussions. Instant messaging and chat rooms were always realtime discussions—but primarily on a one-on-one or small-group basis. Twitter and Facebook status updates, aka microblogging, has mashed the realtime nature of instant messaging with the global scale and voice of blogging.
RevenueNation seeks to simplify the way in which amateur publishers like you and me can post relevant revenue-generating links to topical articles and conversations on the web. We help this new breed of amateur publishers become brand advocates to promote products and services they feel are relevant to their networks, followers, friends or conversations about our areas of interest.
By providing amateur publishers to access to a simple set of lessons and a catalog of brands to promote, we empower the modern amateur publisher to become a very powerful brand advocate and promoter that seeks to place relevant promotions so that their links get clicked.
Our team of advocates only get compensated when an action is taken by the reader, thus insuring that links posted are within relevant areas where interested audiences are present. Our advocates also gain access to discounts on the products they promote, so that they are both familiar with and loyal to the brands they promote.
The benefit to our advertisers is simple: our team of amateur publishers filter and find areas on the web where their products and services are relevant...effectively crowd-sourcing the identification of the relevant placements across the web. Further, with our model, advertisers only pay RevenueNation Advocates when an action (like a purchase) is completed...thus removing the budget risk to advertisers seeking to get their products and service placed in the right conversations.
We look forward to empowering our RevenueNation Advocates and RevenueNation brands with the ability to use the "wisdom of the crowd" to find and place relevant messages that lead to results.
Stay tuned as we get closer to launch. We look forward to the conversation!
All of us are publishers now that we contribute to the web with social media tools like Twitter, blogs, and Facebook. Since we all have friends and we all are experts in something, we naturally have ideas to share. In sharing, we advocate ideas, thoughts and even products or services. This type of word of mouth marketing is a very powerful means to move product, so many marketers are seeking a way to gain access to influencers like you who have something important to say.
As you know, Revenue Nation seeks to help us everyday publishers make a little money advocating products, services, and brands we love. Revenue Nation feels that if we are all going to make recommendations to our friends, and those brands benefits, we should get a little somethin' for the effort. So we have kept our model simple to help folks monetize the content they contribute to the web.
Think of us as an easy button for amateur web publishers like you, me and folks who spend time networking and contributing to the web. When we roll out the service, you'll be able to learn how to promote your own business or promote and advocate 3rd party products for profit (we also will provide discounts to our users when they buy products from advertisers in our portfolio). We'll provide you with all the tools necessary to setup and monetize your online activity and we will provide a catalog of offers you can promote while you interact on the web.
We are looking forward to our launch...and we hope you are as well. Please stay tuned here for more news!