Loyalty Rewards Based on Social Influence
October 28 2011 by Troy Blackman
Seeing the strong rumor that Klout raised $30 million on a valuation of $200 million got me to thinking about the future of endorsements and loyalty programs. This 3 year old company has a vision of their Klout becoming like a credit score. Klout calculates how socially influential a person is on the web. Just think, Loyalty Programs can target individuals for special rewards based on their Klout score. Highly influential people will get discounts or endorsement deals based on Klout. Klout runs on Twitter, Facebook and LinkedIn.
This model allows brands to truly leverage the strength of peer recommendations. We’ll all trust someone we know over a generic add or celebrity endorsement. Audi, Disney, Popchips and Lot18 all are using Klout Perks for the launch of products. It makes total sense!
Not only will your product be supported by people who are trusted by peers you’ll be collecting enormous amounts of data that will help you better understand why they like it, what influences the purchase by the peers, what purchases are made and for how much, and the ability to align the reward accordingly. Integrating this with offline data only makes your profiling, segmenting and predictive capabilities stronger.
Brilliant!
