Brands seek more and more to influence their consumers via digital and social channels. But how exactly can a brand influence consumer behaviour online?
According to a recent Altimeter report, digital influence is all about three things: REACH, RESONANCE and RELEVANCE
These three pillars form the basis of influence for brands in the online space:
REACH: In this case a combination of popularity, affinity and potential impact of a brand
RELEVANCE: Authority, Trust and Affinity
RESONANCE: Frequency, Period, Amplitude
Altimeter provides some details and case studies around how to achieve the above pillars here. Not sure if we agree with these steps totally, but there are some really good points here. For an alternative view, check out some of our pasts articles here and here.
Let’s have a look at how do you measure online reach, relevance and resonance. And what is the ROI of having digital influence? Here some thought starters:
- Sales/Referrals: online sales vs offline sales but also monitor where your sales referrals come from, e.g. via your blog or Facebook page
- Brand Awareness: Awareness = Sales – simple as that. Measure where your brand is in the social space and aim to increase the awareness gradually
- Brand Resonance: Similar to awareness, resonance measures how often your brand is mentioned in the social web (via Radian 6 or Sysomos for example)
- Reach Through Advocacy: Brand Advocates are powerful “sales people” as they influence their peers for your brand- too easy!
- Sentiment/Shift: Negative views or perceptions can be shaped into positive ones. Ensure you have measures in place to make a grumpy customer happy again
These above metrics are a good starting point for any brand to get a grip on their online influence. Metrics change from time to time so you might want to add metrics or adapt existing ones. Let us know how you go!