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Idea behind Peer Influence Analysis
Peer Influence Analysis introduces that idea that there are two distinct groups on influential consumers online:
1) the Mass Mavens who use blogs, forums, and review sites to share complete opinions about brands and products online (creating what we call "influence posts") and
Previous US data has shown the following concentrations: "only 13.8% of online consumers create 80% of influence posts, and just 6.2% of online consumers create 80% of all influence impressions."
A new Peer Influence research for the Western European market shows the following -even more- concentrated influence: "Across Western Europe, just 11.1% of online users create 80% of all influence posts and only 4% of online users are responsible for 80% of all influence impressions."
Having the characteristics in mind of the Mass Mavens and Mass Connectors, the TV industry can develop strategies to engage with both types of influencers in order to co-create the experience with them. It's important to understand that a small group of people effect a more-than-average amount of other people. Direct or close contact with them is important in terms of promotion, visibility and understanding what can be enhanced.
On AppMarket.tv we've reported and written much on the impact of Social Media and how co-creation can evolve the TV industry from this point of perspective. An update on the Social Technographics by Forrester implies increasing opportunities for Social TV. In terms of new business models that can boost conventional revenue streams, Social TV helps to drive Television Advertising growth.
That social media is already used during watching TV has been research and almost half of all British use social media while watching TV meaning it's a concrete and real development that can further be enhanced by means of the Peer Influence Analysis.
Let Mass Mavens and Mass Connectors work -orchestrated and/or virally- together to create content and visibility on it, and achieve reach by the Mass Connectors. In this case counts the same as what I've explained in this article:
Small niches (mini social networks) are created by the viewers themselves, creating loyalty and engagement amongst the mini network towards specific content. This in turn will boost TV advertising but more importantly, it will co-create together with the technology of a Social EPG a guidance what to watch.
This latter is important, because indeed the amount of offered content is increasing, it's hard for providers to be visible. Making use of the power of the crowd is a good example of co-creation, where relevancy and engagement occur, more money can be spend and made. Long tail is key and as explained by McKinsey's Word-of-Mouth Equity a strong and small network will have more influence in the end.