Like my flights to and from Barcelona, this blog post is rather late...
On Friday morning, I spoke about the need for us to reconsider customers on a social level. As marketers, we find ourselves relying more and more on consumers to impact others in their purchase decisions. Evaluating customers based only on their business or financial value - such as my much-loved Life Time Value, or an operation's ROI - is *has been*.
I called for marketers to integrate a second dimension - the social value - into their thinking. What's social value? I've simplified it into 3 components:
1) A customer's knowledge and involvement - in short, his level of expertise and interest in the category and brand.
2) How he participates, and the value of his connections - what social activities is he involved with (both on and offline) and where (on what networks is he active). The value refers to the value of the connections themselves: are the communities more tightly-knit or diffused, are they public or more intimite.
3) The number of contacts the customer has in each network.
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