As always, Third Tuesday (on a Monday) was a success! Nate Elliott on The Future of Influence

I had to dash out of Third Tuesday (which fell on a Monday due to St. Patrick’s Day) but I had promised Tanya and Nate that I would come by and that I wouldn’t miss it so I stayed for most of Nate Elliott’s talk on The Future of Influence. Tris liveblogged it on the M2O blog, and here are my rough notes.

- The lasting appeal of influential consumers

- Who are the new influentials?

- The changing nature of influence

- What does it mean?

Marketers have always used consumer-to-consumer influence. They find influential people. They get them to pass along the message. Amway follows a similar message. Avon, Tupperware. People trust what other consumers tell them. You find influential people in the community. As a company, you give these influential people an interesting message and then you rely on these influential people to spread around the message.

Traditionally, personal recommendations have carried strongest influence

Axis X (Proactive vs. Reactive recommendations) axis Y (Broadcast vs. Personal recommendations)

Strongest influence – high volume, high trust (e.g. personal request for advice)

Medium influence – highest volume, medium/high trust e.g. Tupperware party, email from a friend

Weaker influence – lowest volume – medium trust – messsage boards, forums

Weakest influence – low volume, lowest trust – Amazon review, sandwich board.

New influentials – are internet users who maintain a weblog or personal homepage, who join in discussions on internet message boards, forums, or chatroooms, or who regularly update their social networking profile page.

Classic influentials – internet users who say they are the first person others come to for recommendations on music, films, tv programmes, books, consumer electronics, and technology

New influentials exert active influence but are rarely sought out.

Classic influentials – primarily exert passive influence by responding to requests for advice

New influentials – primarily exert active influence by proactively giving advice

New influentials and classic influentials sit at opposite ends of spectrum.

While classif influence remains stagnant, new influence continues to grow. 69% of Canadian online users are Spectators, 67% Joiners, 28% are Creators and 27% are Critics.

As users grow overwhelmed by influence, they will look for greater context. In the past the value of new influence was (not enough reviews/trust of consumer advice).

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