According to a survey Social Dollars: The Economic Impact of Customer Participation in a Firm-sponsored Online Community run in 2011, every second of the top 100 global brands host a so-called on-line community. But is it really worth investing? The answer is... YES, writes the Strategy and Business Magazine.
The Magazine reviewes a research paper published by The Ross School of Business in January 2012, and here's what they found out:
"We find that 19% of the post-launch revenue from community customers can be attributed to their joining the community. This result is robust across a variety of tests. In addition, social dollars persist over time, arise in both online and offline channels and affect all product categories sold by the firm. The analysis of community data reveals that social connections – the number and importance of friend ties – and interactions – personal page displays – are positively linked to social dollars." - the research authors say.
