1. Promoting consumer arrogance proven to increase consumer word-of-mouth
Want to increase word of mouth around your company or product? A new study from Michigan State University found that you might want to work on tapping into your customers’ sense of consumer arrogance. That’s right, appealing to customers’ pride at finding a great deal or product means more word-of-mouth recommendations to family and friends. Why? Well, we’re all familiar with that feeling of getting a really great deal and wanting to tell others about it. We brag about shopping triumphs for the same reason we brag about anything else—it makes us look good. However, companies should obviously still focus on the quality of their product or offering before activating consumer arrogance—the same study also found that triggering consumer arrogance meant more word-of-mouth communication about the experience whether or not customers liked the product, meaning more positive word-of-mouth information if they were happy and more negative word-of-mouth communication if they weren’t. So while it could be a bit of a double-edged sword if companies aren’t careful, activating consumer arrogance is clearly a safe bet for increasing word-of-mouth. Read on.
2. Education campaigns turn to influencer marketing in the pandemic
It’s safe to say that the pandemic has forced all industries to alter their operations in some way. With months of stay-at-home orders and layoffs, people aren’t spending or consuming media in the same ways. But happily, for brands, this has also meant consumers are spending more time on social media than ever before. In an effort to spread important information quickly and efficiently, government, educational, and public health entities are turning to influencers to amplify educational campaigns and public service announcements for the first time. The Finnish government turned to influencers to spread practical tips about flattening the curve, and the UK’s Department for International Development used YouTubers to quash false virus rumours. While product-based influencer campaigns aren’t going anywhere, the move by new industries and public entities towards influencer marketing shows that influencers have become more integral than ever to global marketing, no matter the industry. Learn more.
3. Words from the wise at Harvard say friend incentives are crucial
When it comes to referral, there are endless questions (believe us, we’ve heard them all). One recurring question is: Should I offer an incentive to the friend. And while we naturally advise doing so, that doesn’t always convince people. Luckily for us, in July, researchers from Olin Business School, University of California San Diego and Harvard Business School looked into the question of consumer behavior, and whether “prosocial,” that is friend-benefitting, or “selfish,” that is sender-benefitting, incentives worked better when it came to referral and driving the desired consumer behavior. In a survey of more than 6,000 customers, they tested different reward and incentive mixes to drive them to download an app. From no monetary incentive whatsoever to one-sided incentives, to a shared reward and incentive, their conclusion found that, the friend incentive may actually be the most important part of a referral scheme. So what does this tell us? Well, the biggest one: don’t underestimate the power of social connections and prosocial consumer behavior. Read the full article.
4. Pandemic proves influencer marketing is as powerful as ever
At the beginning of the pandemic, many wondered whether reduced marketing budgets and lockdown restrictions would mean the end of influencers as we knew it. But, if anything, the pandemic has made the influencer marketing industry stronger than ever. So what did these predictions get so wrong? To start, with social media consumption at an all-time high, many brands decided to follow consumers and turn to influencers. With the production of traditional broadcast ads on hold, brands looked into sponsored posts and influencer-created content. Also, while stuck at home, consumers were looking for practical content that reflected and addressed their shopping and leisure limitations. YouTube saw a growth of 145% for home and fitness content alone, and influencers were poised and ready to provide relatable, home-grown content. Plus, with brick and mortar stores closed, e-commerce also saw astronomical growth, as shopping became less about browsing in person and more about swiping up to get the look. While it might be too early to say this is ‘the new normal,’ it’s clear that influencer marketing is here to stay. Read on.
5. Improve employee engagement with these six questions
With employees the world over working from home, employee engagement is more important than ever. Plus, with more and more research linking employee engagement and overall organisational success, it’s in everyone’s best interest to focus on driving employee engagement. So how can you identify and address any issues your employees may be facing? Start by asking your employees how you can do better. Questions like: Is there anything you need from the organisation to be successful in your role? Is there anything unclear about your role? Do you have a vision as to how this role will help you achieve your goals? Another tip: try to check in with employees at least once a month to prevent smaller issues from turning into significant problems. If you don’t have time, create an employee engagement team made up of leaders and assign them specific colleagues to check in with. But that’s just the start. Don’t just sit on this information. Act fast to ensure your employees are in it for the long haul. Keep reading.