Overestimation of a friend's ability

Asking your friend for choosing a dress for you can actually be a disaster. Research has shown that we normally overestimate our friend's knowledge about us. So they are not the best agents when it comes to making choices for us. And the reason for this over estimation is over confidence. This overconfidence is the over confidence about the knowledge about us. Our friends normally have an automated part in their memory that knows all about us and the mind does not bother to reason that automated part, because it is expensive to use the memory. Ultimately the big question is "Does our friend even bother about us ?" Well research has not ventured into that domain, but it can be argued that the "Know it all attitude about a friend" may cause insensitivity.

The impact of this research is more for consumers than marketers. The bottom line: "Never trust a friend in making choices. They are bad agents."

Social Networking on Mobile - The Big opportunity for marketers

Facebook has been the dominant social network for quite a while and has an active user base of more than 1.3 billion. Its proliferation in the 18-35 years of age group (52%) makes it ideal for most advertisers. An interesting statistic to observe is the number of people accessing Facebook through Mobile. One of the biggest shifts in social media behavior has been its greater usage through mobile devices (in particular smartphones). According to a report , the internet traffic on mobile accounts for one forth the total internet traffic. Even more important is its growth, which is over 1.5 times per year and according to analysts would stay the same way in the years to come. This shift is even more significant for emerging economies where in a sector such as e-commerce organizations are witnessing close to 65% sales through mobile.

Your Customer - Another line in a database

Email marketing can be the trickiest thing in the online marketing jigsaw. Most promotional emails end up as being marked as read or spam. No one cares! Well because most of the time, the ones sending it through a database also don't care.

How do brands use Instagram to connect with fans?

Instagram is increasingly becoming a favorite platforms for Brands globally to engage with their customers. It's importance can be gauged by the fact that it is the world's largest mobile ad network. Instagram now has a community of over 500 million users liking over 4.2 billion photos and sharing over 95 million pictures daily. The format of Instagram makes it a great medium for visual story telling.

Economy of Social - Social Media Tips, Marketing and Business

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