123 eGuides

1 Minute Advice: The Best Influencers are Family Members

Family members are the best influencers with adults when it comes to product recommendations according to a recent study reported by Marketing Charts. Almost three-quarters (71 percent) of adults have bought products or services that were recommended by family members. Two-thirds (66 percent) of adults have done so based on close friends' recommendations. Only 39 percent made a purchase based on the recommendation of an acquaintance, and 38 percent say a recommendation from company or store personnel.

Companies or brands on social media influence 35 percent of adults to make a purchase, while groups on social media influence only 28 percent of adults. Individual influencers don't impress adults either -- their recommendations only influence 27 percent of adults.

More about the study here: https://www.marketingcharts.com/cross-media-and-traditional/word-of-mouth-227501?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: Marketers Need a "Community Flywheel"

According to McKinsey, the “big idea” in 2020s marketing is community—reaching consumers in the communities they are a part of and helping them express community membership by participating in your brand.

"Brands that excel at this use five reinforcing techniques—know your communities, make your brand story talkable, zoom in on hero products, fuel the conversation across channels, and make transactions effortless—to encourage the development of a community flywheel."

McKinsey states: "This methodology is well suited to the fast feedback cycle of cross-functional agile teams and doesn’t require extensive marketing technology investment ahead of demand; it thereby enables rapid growth, provides high return on investment at low risk—and encourages energized, high-performing teams."

Read more here: https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/a-better-way-to-build-a-brand-the-community-flywheel?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.