There is gold in them there social media hills
Razorfish has data that shows the rush to profit from social media is working.
The big takeaway is that “those who discovered an application via a friend (aka, via a social connection) were almost four times more likely to download it. They were also more likely to spend money on the client site and spent much more on average.”
It’s not surprising. Consumer behavior (including my own) shows the value of customer reviews. It was the basis for Consumer Reports and has evolved to become a standard feature of online retailers large and small. We trust hearing from other people more than getting the message from an ad. Especially if we have an actual (or perceived) relationship with them. Developing those relationships is what social media is all about.
Check out Social Media Measurement: Widgets and Applications for details on the data points Razorfish collected.
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