Thanks to a few new connections over the past month, I’ve been able to get an interesting view of what apparently happens when you leave Gaylord, Michigan – YOU NEVER GO BACK! OK so diaspora is a little much, but it is passover-ish, so I get a little leeway. So here is a representational drawing of the distribution of 19 connections:
Satmetrix has some interesting research, as noted in the release excerpt:
Applying this framework to the computer hardware industry, Nowinski and his team discovered that each Promoter was worth approximately $2,634. Promoters spend $203 more than the industry average of $1,615 and account for roughly one-half of a new customer acquired through positive word-of-mouth. In comparison, each Detractor can cost a business 0.84 percent of a new customer through negative word-of-mouth. The lost business associated with their negative referrals subtracts nearly the entire value of their purchase behavior, leaving a total customer worth for Detractors of just over $100, accounting for $2,500 less than Promoters.
Church of the Customer furthers:
The study examined customers in the computer hardware industry and found, using the Net Promoter methodology, that “promoters” would spend about $1,818 of their own money and refer an additional $816 of revenue from friends and associates.
“While Detractors spend lags the average customer by only $158, their negative word-of-mouth behavior represents a significant hidden cost and net drain on future revenue,” said Nowinski.
Interesting stuff, wonder what the general CPG impact is?
So I continue to get amazed with the valuable information I receive from stumbling around folks links, browsing my network on Del.icio.us or just digging around. But then I realized that a great deal of folks don’t actually share their links, they more so browse. Why is that? Just in case you get the urge to share, he’s a reminder of why you have an account on mixx or propeller.
Thanks for the video Lee! Odd question have we all replaced social bookmarking with Twitter?
So with all the buzz around Kevin Kelly’s 1000 True Fans, the holy grail of social media artist, I was thinking how do you know if you’re a true fan, so I got a little introspective and did a little browsing of my network to TRY and identify 5 attributes/activities/attitudes of a true fan of social media:
1. YOU realized Facebook is not just a way to stay in touch, but a way to for YOU to understand: With the myriad of applications available, there are a lot of things you can do on Facebook, but do you use the network to better know people, what they do and WHO they are and WHY?
2. YOU use tags as your main browsing/search option: You prefer to browse by bookmarks rather than traditional search on google. Has folksonomy become your taxonomy?
3. YOU appreciate contribution/sharing as much as consuming: Community is about engaging and sharing and as much as any other noun, social media is about community and the conversations which emerge. This item also means you want your favorite sites to be up, rather than down, (think twitter) and you understand it’s the value of your network, not the size.
4. YOU are constantly on the lookout for the next killer widget: When new platforms emerge, new widgets show up on someone’s blog or you get an invite to participate in a beta -you do it because you want to see if it can improve your life and your relationships.
5. YOU vote with your spend/click for your key influencers: This is the final stop in social media fan-dom, you appreciate the folks who influence your social media experience and click on ads which are of low interest, buy their book or hire them for a speaking or consulting engagement. (That being said – I don’t like keyword ads.)