How many ways can we divide up the social media pie to begin to understand value and return on investment? Let’s remember, reputation – even before the viral power of social media – is a big intangible asset to your business and brand. Think of it like this: how many times do we hear about the value of word-of-mouth advertising? We see its impact all over social media; in LinkedIn endorsements and in about all facets of Facebook advertising – it’s the principle of the unsolicited badge of approval and the solid psychology of trusting what our friends recommend.
On the topic of the return, how would one place a value on a great referral? On the recommendation of a happy customer? This, we believe, is the same realm in which social media influence operates. The value in goodwill and trust created by reputable influencers is inestimable. Like in the olden days of radio, and then, TV advertising, one could hardly guess how (or whether) an advertisement was likely to strike a chord with listeners or viewers. It’s pretty easy to notice when the sales start ticking up, though. THIS is the same today in social media. The investment is a bit of a leap of faith, but the payoff is there – why else would so many businesses and brands be investing in it?
Celebrity endorsements of the golden age of radio and television have their analogs in the digital age. But be careful, one doesn’t necessarily have to gain the confidence of a pop-culture mainstream media celebrity to reap the benefits of influence in the social sphere. Is one tweet going to 75,000 followers ‘better’ than 20 tweets going to four thousand each? We’ll leave you to consider that. 🙂
If you follow @marksalke on Twitter, you may see a trend in resources that I find interesting and useful. One especially inspiring person that I follow is Brooke Ballard of B2 Media. You can find her company BSquared Media on Twitter @B2MediaLLC and the woman herself @MadSMScientist and follow her always insightful B2BLOG. Today’s chat is topic is inspired by the B2BLOG post of April 17. 2013 titled How To ID Social Influencers.
Q1) What is your definition of a social media influencer?
Q2) Where do social influencers come from?
Q3) Can we attract influencers to our brand?
Q4) What are good ways to reward top influencers?
Q5) How can we measure the impact of influencers?
Q6) Is influence accurately measured by a numeric score?
Image credit: appinions.com