I read a lot everyday: literature, international news, education trends, and business advice. Today, two items in my in-box reported that after studies, analysts came up with two predictors of buzz (which is at least a step toward success): luck and money.
Hmm, I spent four years earning a business degree. Somehow, somewhere in my common sense I must have known that money and luck work. And to think of all the case studies I wrote.
After reading the newsletter I quote from below, I went looking for the “luck” article but must have deleted it. Sorry. But the money one is below.
From Max Kalehoff of Online Spin writing about the results of an experimental study by his Nielson associates:
Advertising Is Best Predictor of Buzz: After analyzing blog buzz volume, ad spending, purchase intentions and actual product sales, researchers found that the best predictor of buzz for newly launched CPG is a large advertising budget.
Kalehoff hopes more studies will be done.
I hope this work prompts more foundational work across our industry. Advertisers need more insight into the linkage among marketing, media, consumer behaviors and expression, influence and sales. And among the practitioners, I hope to see more marketing and communications informed by these emerging principles in this new age of buzz and consumer-generated media.
I wonder if he knows folks who will pay me to tell him to sell quality products that work.