The Latest Marketing Trend in 2011

For those who want to know all there is about Marketing today.

Let me tell you about the latest Marketing trend in 2011, which i read in an article this month and found it most interesting since we live in a world where social networks are getting more "power" each day. here goes a brief summary.

 

"Consumers are increasingly tapping into their networks of friends, fans, and followers to discover, discuss and purchase goods and services, in ever-more sophisticated ways. As a result, it's never been more important for brands to make sure they too have the F-FACTOR."

Consumption has always been social, meaning that  people have always been influenced by what others think and buy. The reason why the F-Factor is so important, is because it offers a more trustworthy, faster and interesting way (especially Facebook) for consumers to get information that will influence their purchasing decisions unlike the common platforms that consume more time and effort from "us".

With this said, here are 5 ways of the F-Factor influences consumption behavior:

1.  F-DISCOVERY: How consumers discover new products and services by relying on their social networks. People are curious and interested in what their friends and contacts think, do, read, etc. because often this will be similar to how they want to think, act and buy. No surprise then that consumers are embracing communities, tools and apps that allow them to dive into and discover selections from friends, fans, followers and so on.

2. F-RATED: How consumers will increasingly (and automatically) receive targeted ratings, recommendations and reviews from their social networks. Because while consumers sometimes enjoy finding the best of the best through discovery, they are increasingly able to access personalized recommendations and reviews on something they know they want to purchase through these growing platforms.

3.  F-FEEDBACK: How consumers can ask their friends and followers to improve and validate their buying decisions. Over the last decade, online reviews have greatly empowered consumers, however anonymous reviews aren’t always what consumers need or want; they can lack relevance and context. This is where F-FEEDBACK comes in, allowing consumers to actively display their purchasing intentions and reach out to their friends and contacts for personalized feedback.

4.  F-TOGETHER: How shopping is becoming increasingly social, even when consumers and their peers are not physically together. Consumers have strong incentives to share certain purchases, especially for F-FACTOR-friendly experiences such as buying event tickets. For example what’s not to like about automatically inviting friends to a concert or movie right after purchasing a ticket?

5.  F-ME: How consumers’ social networks are literally turned into products and services.

The F-FACTOR is about being so exceptional that consumers will find and ultimately choose you, without you as a brand having to do anything extra. It’s not about bribing or even compelling people to “Like” your Facebook page. This is something of course, which brands that truly have the F-FACTOR don’t have to worry about.

In conclusion, i found this most amazing and very useful for any company nowadays and that is the the main reason why i posted this. My intention is to show once again how social networks can be essential for any brand to succeed when used properly and not by just dumping random information about it. With strategy and effort this tool can make an exponential difference in the accomplishment of your objectives.

If you wish to check the whole article go to: http://trendwatching.com/trends/ffactor/