Social proof, also referred to as social influence, is a psychological phenomenon where individuals mimic the actions of others in an attempt to emulate the “correct” behavior for in particular situations. At this point, some are probably scratching their heads in confusion. Rest assured, social proof has an enormous impact when it comes to brand optimization.
Marketers who are on top of their game know that social proof is the marketing tactic that eases the minds of worried customers. By using positive social proof technique trust and loyalty is built between the brand and its customers, current and potentially new.
Loyalty and Consumption
Loss aversion can have a great impact of the success of a brand. Customer perception and their choices of brands largely depends on social influence. Simply put, customers would rather remain loyal to their current brand even if that means they could possibly lose out on something better. If brands take this phenomenon into consideration, they can corner the market of their chosen niche.
Past, Present and Future
In the ever-changing world of digital marketing, what happened in the past plays a key role in the present and future of a brand’s success. In addition to the number of website visitors, past sales play a huge role in the future success of a brand.
Measuring analytics of past behavior can help to build a brand’s strategy for the future. Known as sales forecasting, using data from the past helps to predict what is going to happen in the short-term future. Brands need to keep their eyes on the future while simultaneously studying trends of the past.
How Sales Forecasting Works, money.howstuffworks.com
7 Things You MUST Understand When Leveraging Social Proof in Your Marketing Efforts, blog.kissmetrics.com