SocialTwist, a social referral marketing platform, today launched Influencer Quotient (iQ) to help brands classify customers into influence segments based on the impact of their social influence on driving measurable brand outcomes, specifically conversions and sales.
iQ is a rigorous statistical approach that measures the social outreach of individuals and its impact on desired brand outcomes within the marketing funnel, from impressions to conversions. It then assigns consumers into actionable influence groups, based on standardized scores derived from these measurements.
SocialTwist's iQ is based on the marketing premise that a consumer influences others – on behalf of a brand – by driving awareness, engagement, affiliation and conversion. SocialTwist measures each outcome, constructs an associated composite iQ score for each consumer, and then groups them. The score reflects a consumer's effectiveness in promoting the brand's product and services. This allows brands to engage more deeply with those individuals who drive business for them and truly impact their bottom lines.
iQ scores are weighted by the importance of the outcomes created. For example, conversions from referrals are more valuable, hence scored higher, than mere impressions. Influencer scores can be standardized across brands and marketing programs.
SocialTwist's iQ then segments influencers into five categories. Segments are actionable and named, like Champions, Supporters, and Passives, and assigned based on normalized iQ scores. While smallest in number, Champions are those who really drive the lion's share of bottom line results for a company. This segment is now identifiable and actionable for appropriate brand outreach.
"We actually observe a type of 80-20 rule, where about 15 percent of all influencers drive 80 percent of a brand's desired outcomes," said Vijay Sundaram, chief marketing officer and head of sales at SocialTwist, in a statement. "We segment customers, based on measured impact, into meaningful and actionable categories that help brands build tailored strategies, like loyalty, membership, premium services, and others that value the right customers."