Peer index and Peer influence are two related but slightly different things. A Crowd Tap report:
The Power of Peer Influence highlights that “Influencer marketing is one of the hottest topics in marketing today”.
Legal Consolidated enables Accountants & Financial Planners’ voices to be heard like never before. We give you control over information. Social media such as www.legalconsolidated.com.au and PRUDENCE allows you to share information and influence your clients. Peer index relates to how frequent an engager you are. Peer influence reflects your ability to drive conversations and actions using Legal Consolidated as your influencer.
A Brief History of Influence: Technology and Opposing Views of Two Marketing Pioneers
In the late 1950s, Australia got television. (Greek and Latin for ‘far Seeing’.) It enabled adverts to reach families in their homes. This is on a personal level. The Internet and social media moved those goal posts. Now Dr Brett Davies, a pioneer peer influencer, believes that:
“almost any Accountant or Financial Planner can start a trend.”
With Legal Consolidated’s support, social media has the same power that TV had to influence on a personal level. But it is completely targeted, controllable and quantifiable.
DotRising Peer Index Report
A Peer Index report by DotRising.Com outlines:
“the commercial value of peer influence and customer recommendations” (p. 2)
There are several reasons why peer influencers, such as Legal Consolidated, manage to persuade others to take action. They include psychological, sociological and economic. Accounting and financial planning practices do well by adopting influencer marketing when promoting products and services. Legal Consolidated is Australia’s leader influencer for both professional groups. It used to be that celebrity endorsement (eg Greg Chappell) was the main attraction. However, it is more credible to receive a recommendation from someone who is influential in your field (eg Dr Brett Davies) as opposed to a celebrity (which would more suit a PR strategy). The report refers to:
The magic middle are passionate, interested and much more trusted within their social network than a celebrity endorser. (p. 10).
Credibility can be added to your firm if you leverage the power of customer recommendations. Not only does this strategy add credibility. It builds trust. It is a sign that says: “these people are great to work with”. Further, once the chain has begun, brand promotion can be done virally. This has the potential to reach wider audiences.
Shaping attitudes via Opinion Leadership
The Mass Communication theory, Two-Step Flow, (often used in Politics) is used when trying to convince people to adopt a product. In essence, they are ‘middle managers’ who endorse products and recommend them to the general public. Your business can be promoted by influencers such as:
* PRUDENCE and
* Dr Brett Davies
using social networks such as LinkedIn, for example.
Influential people inspire trust. Nielsen found that 92% of consumers trust recommendations from “known people” while only 70% trust any other form of referral or online review. This includes celebrity endorsements and paid-for quotes from random “happy customers” (p. 7).
Connectors vs Specialists
If you want to generate a buzz about your firm then Connectors are the way to go. Alternatively, Specialists drive trust over the long term and are better at driving action. These two archetypes are split into different practice functions. Connectors help promote a new product or service to your clients. Specialists help maintain client relationships. In addition, they build and maintain loyalty to your brand. Your clients stay with you as opposed to migrating over to your competitors. LegalConsolidated.com.au is both a Connector and a Specialist.
New areas of practice for Accountants & Advisers
Recently, Legal Consolidated through its publishing hub PRUDENCE released 13 new areas of practice for accountants and financial planners. Legal Consolidated provides both the online legal documents and marketing campaigns which your practice is free to adopt. Over 5,000 accountants and financial planners in Australia use the marketing and social platforms of Legal Consolidated to grow their business. We are the largest hub in Australia for these two professions.
By harnessing the power of peer influence and customer recommendations within social networks, small and large accounting and financial planning practices continue to reach out to their clients through social networking channels and the Internet.
Legal Consolidated promotes new products and services. It instils trust and builds your brand loyalty for existing products and services.
By applying influencer marketing to your practice you embrace the future of business. You will see a return on investment, a wealth of new customers and loyalty from established clients or customers.
Please telephone us for a chat. We dramatically grow your profit and client base.
Adj/Professor, Dr Brett Davies, CTA, AIAMA, BJuris, LLB, Dip Ed, BArts(Hons), LLM, MBA, SJD
Legal Consolidated Barristers and Solicitors
Australia wide law firm
39 Stirling Highway, Nedlands, WA
Mobile: 0477 796 959
Direct: 08 6389 0400
National: 1800 141 612
Reception: 08 6389 0100
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