In: Economics
1. How are social media sites affecting social influence?
2. Why do companies sometimes target opinion leaders for marketing attention?
3. Why is word of mouth so important for marketers?
Ans 1-Social media sites are affecting social influence by the following points-
Coming to the positive side, it gives people a solution to stay in touch who live far away and also allow them to share fun, interesting and informative content. It also gives businesses a way to engage with customers. It plays a crucial role in interacting with one another.
But the negative side is that in some cases, real harm is done when people spread false, unverified information which can also have a harmful effect on society. Moreover, a great deal of content is also spread through memes, images which may or may not be valid.
According to a study social sharing has encouraged people to use computers and mobile phones to express their concerns on social issues without actually having to engage actively with campaigns in real life. Their support is only limited to the 'Like' button or sharing content.
Ans 2-Companies sometimes target opinion leaders for marketing attention because opinion leaders can validate a company's product or idea.
Many marketers often look out for opinion leaders for advertising campaigns, collaboration, or product endoresements.
Partnership of both increases a brand's visibility and builds trust between the business and influencer's audience.
Ans 3-Word of mouth recommendations are a vital marketing tool for any brand because they from those sources which are familar to us already, that is friends and family.
Another reason is that due to 'Buzz's user generated content can induce, they are likely to be more trustworthy and valuable.