The Future of Influence, Northern Voice 2009

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Information about The Future of Influence, Northern Voice 2009

Published on February 24, 2009

Author: nate_elliott

Source: slideshare.net

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Presentation on The Future of Influence by Forrester Principal Analyst Nate Elliott. Delivered at Northern Voice 2009 in Vancouver BC, February 21, 2009.

 

Nate Elliott Principal Analyst Forrester Research February 21, 2009 The Future of Influence

Agenda The lasting appeal of influential consumers Who are the new influentials? The changing nature of influence What does it mean?

The lasting appeal of influential consumers

Who are the new influentials?

The changing nature of influence

What does it mean?

Marketers Have Always Used Consumer-to-Consumer Influence Source: JupiterResearch (9/08)

Traditionally, Personal Recommendations Have Carried Strongest Influence Reactive Recommendations Proactive Recommendations Personal Recommendations Broadcast Recommendations MEDIUM INFLUENCE Highest volume Medium / high trust e.g., Tupperware Party, e-mail from a friend STRONGEST INFLUENCE High volume Highest trust e.g., Personal request for advice WEAKER INFLUENCE Lowest volume Medium trust e.g., Message boards, forums WEAKER INFLUENCE Low volume Lowest trust e.g., Amazon review, sandwich board

Agenda The lasting appeal of influential consumers Who are the new influentials? The changing nature of consumer influence What does it mean?

The lasting appeal of influential consumers

Who are the new influentials?

The changing nature of consumer influence

What does it mean?

Definitions New Influentials are Internet users who maintain a weblog or personal homepage; who join in discussions on Internet message boards, forums, or chat rooms; or who regularly update their social networking profile page. Classic Influentials are Internet users who say they are the first person others come to for recommendations on music, films, TV programmes, books, consumer electronics, and technology.

New Influentials are Internet users who maintain a weblog or personal homepage; who join in discussions on Internet message boards, forums, or chat rooms; or who regularly update their social networking profile page.

Classic Influentials are Internet users who say they are the first person others come to for recommendations on music, films, TV programmes, books, consumer electronics, and technology.

New Influentials Exert Active Influence but Are Rarely Sought Out Source: JupiterResearch (9/08) New Influentials Classic Influentials Primarily exert active influence by proactively giving advice Primarily exert passive influence by responding to requests for advice ? ? ? ? ? ? ! ! ! ! ! !

Classic Influentials and New Influentials Sit at Opposite Ends of the Spectrum Reactive Recommendations Proactive Recommendations Personal Recommendations Broadcast Recommendations CLASSIC INFLUENCE NEW INFLUENCE

Agenda The lasting appeal of influential consumers Who are the new influentials? The changing nature of consumer influence How to leverage the power of influence

The lasting appeal of influential consumers

Who are the new influentials?

The changing nature of consumer influence

How to leverage the power of influence

While Classic Influence Remains Stagnant, New Influence Continues to Grow Base: Canadian online users Source: Forrester’s North American Technographics Benchmark Survey, Q1, 2008

As Users Grow Overwhelmed by Influence, They Will Look for Greater Context Value Of New Influence Present Future Past Trust of consumer advice Not enough reviews Difficulty identifying relevant advice Too few centralized sources of advice Critical mass of reviews Richer, deeper advice Privacy concerns Spread of reviewer profiles Integration of social graph

Agenda The lasting appeal of influential consumers Who are the new influentials? The changing nature of consumer influence What does it mean?

The lasting appeal of influential consumers

Who are the new influentials?

The changing nature of consumer influence

What does it mean?

Marketers Must Find, and Activate, Their Most Influential Customers Do what Avon, Tupperware and Amway do: Identify influential consumers Give them something worth talking about Motivate them to talk about it in the ways they want

Do what Avon, Tupperware and Amway do:

Identify influential consumers

Give them something worth talking about

Motivate them to talk about it in the ways they want

Sites and Services Must Help Consumers Filter Through the Sea of Influence Implement at least basic user profiles Recognize and reward the best contributors For large sites, implement technology-based filtering

Implement at least basic user profiles

Recognize and reward the best contributors

For large sites, implement technology-based filtering

Users Must Be Willing to Share – Not Just Their Opinions, But Their Profiles Sharing even just a bit of personal information lets: Other users value what you’re saying Sites help you find the most relevant advice

Sharing even just a bit of personal information lets:

Other users value what you’re saying

Sites help you find the most relevant advice

Thank you Nate Elliott [email_address] twitter.com/nate_elliott www.forrester.com

Nate Elliott

[email_address]

twitter.com/nate_elliott

www.forrester.com

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