Wednesday, January 23, 2013

Smart calculator measures potential impact of word of mouth

I was honored when the Useful Ideas team invited me to provide input for a 'smart calculator' they wanted to create to help marketers gauge word of mouth activity. Our goal was to get end users to think through the fundamentals of getting a message cascade online and offline vs. claim to have a crystal ball for viral outcomes. The calculator algorithm is based on four elements:

1- Number of customers

2- Percentage of customers who would share a message

3- Average number of recommendations/customer

4- Impact of recommendations (i.e., % of recommendations that turn into purchases)

The site is full of fun, 'useful' calculators that help you figure out how addicted you are to Facebook, how you rank in work overtime, your income before and after taxes, etc. Below is the word of mouth impact calculator.


<div style="margin-bottom: 5px">WOMM (Kulaktan Kulağa Pazarlama) Etkisini Hesaplama, diğer tüm hesaplama araçları için</div>


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Info-Currents January Trends: Smart Online Calculators and Social TV Guides

I shared the following trends earlier in the month with my Info-Currents subscribers. Enjoy!

Emerging trend:  Smart online calculators will coach increasing number of users to estimate outcomes of their life events or work-related decisions. 

Implication: Immediacy in access to online information has increased our expectations to find answers to complicated questions such as ‘How much should I pay for a mortgage?’ or ‘How many people can I reach with this message?’ While providing estimates only, calculator apps can shorten time to insight.

Action: Creating customized calculators for your web site can take considerable resources. Increase site stickiness and sharing by white labeling calculators created by utility marketing shops such as Useful Ideas.  


Emerging trend: As indicated by Instagram’s change of privacy policy, social businesses’ need to monetize will reduce consumers’ content ownership rights. 

Implication: Consumers will need to gain an understanding that what’s posted – in private or public accounts – can be up for grabs by Facebook and other mega platforms. Upon news of changing privacy policies, people will curb sharing habits briefly. Most will continue to socialize online, perceiving the benefits of social connections as more than the risk of being publicized.

Action: Be transparent in communicating how your business intends to use ‘consumer data.’ Make this information accessible and understandable, to earn trust and grow business.


Emerging trend: Twitter-based social TV guides will give consumers more ways to find out about new shows and choose programs.

Implication: Online chatter about new shows, premiers and plot twists will increase, giving content providers more ways to tap into audience excitement with social engagement tactics.

Action: When evaluating branded programming, product placement or traditional TV advertisement plans, review social activity around the show. You may discover additional value from hyper social TV users who are likely to influence their peers’ purchasing decisions.


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