Social Media Success Starts with the F-Factor
The social media space has turned into a busy night club. Everyone wants in because it's the coolest place to be. There's a velvet rope, red carpet and millions of people just milling around, waiting to get in on the action. Translation: the club is Facebook and the people milling around are brands who are waiting to do business with the consumers inside. Only those brands that leverage the F-Factor get into the club and dance the night away.
The folks over at Trendwatching.com did a briefing about the F-Factor and how consumers’ purchasing decisions are being influenced by their friends, followers and other people they “know” in new ways.
The readers digest version goes like this:
- F-DISCOVERY: How consumers discover new products and services by relying on their social networks.
- F-RATED: How consumers will increasingly (and automatically) receive targeted ratings, recommendations and reviews from their social networks.
- F-FEEDBACK: How consumers can ask their friends and followers to improve and validate their buying decisions.
- F-TOGETHER: How shopping is becoming increasingly social, even when consumers and their peers are not physically together.
- F-ME: How consumers’ social networks are literally turned into products and services.
Another way to look to put the power of Facebook into perspective is via an infographic put together by my future employer, One to One Interactive:
While it's hard to ignore the power of the F-Factor, what's hard NOT to ignore is the power of the consumer. Brands that win in social listen to their customers and develop social media programs that not only are super creative, but also provide an incredible brand experience. While the F-Factor is legit, what's really driving the space is human power — people and connections.