Measure Your Social Coefficient

[Editor’s Note: This article was originally written for Emerson Social Media.]

Blogging live from the Geo M event (part of the Future M series), I’d like to introduce you to a smart new marketing metric called a “social coefficient.” What is a social coefficient? According to SCVNGR’s Chief Ninja, Seth Priebatsch, a social coefficient measures the percentage of people coming to your venue with at least one friend.

SCVNGR is a particularly handy tool for measuring this because its social check-in feature allows users to simultaneously alert their social networks that they are enjoying life together, in the same place.

Why is this metric so important? Chances are, consumers who bring along friends may likely develop social bonds around your particular venue. Perhaps they have some meaningful reaction that triggers some form of emotional response to your location, forming a type of loyalty that traditional marketing cannot match. Furthermore, social engagements at venues tend to last longer, on average, than solitary visits. The more time spent in your store, the more attachment the consumer will build.

The social coefficient is, presently, a measure of the number of social visitors using SCVNGR, compared to non-social visitors using SCVNGR. Ultimately, businesses might like to measure the number of consumers engaging in any sort of social behavior compared to the total number of consumers. Needless to say, certain venues will naturally attract higher social coefficients than others.

What do you think about this metric? Do you think it could be used for your company/brand? What if your company/brand doesn’t have a physical location – are LBS metrics at all applicable?

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