High reach influencer
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High Reach Influencer (HRI) is a marketing term that identifies a person who refers a significantly higher number of other people to conduct business with a given company or organization relative to others who recommend the company or its brands. The term is closely related to influencer marketing.
Coined in 2008 by professional certified marketer, Dave Dolak, and based on an October 2007 Harvard Business Review article[1], "How Valuable Is Word Of Mouth?", Dolak puts forth that High Reach Influencers are critical to identify, understand and quantify as part of one's marketing efforts in order to understand who is responsible for helping to drive the sales in any given company. High Reach Influencers often engage in word-of-mouth marketing and lead others to purchase products or services based on their personal recommendations.
While the authors of the original article identify Customer Referral Value (CRV) as an important outcome of these people which is an important metric often overlooked by customer lifetime value calculations, Dolak underscores the importance of defining and profiling these HRI's themselves as an important metric to better understand how to improve the marketing efforts of a company or organization by understanding and influencing these people. He further suggests that HRI's may not themselves even be customers of the company thus making their identification difficult yet critical when designing marketing strategy. The fact that HRI's might not themselves be customers of the firm by definition means they are often neglected when organizations calculate customer lifetime value and customer referral value.
[edit] Notes
"How Valuable is Word of Mouth?"; Kumar, Petersen, and Leone; Harvard Business Review, October 1, 2007.
[edit] See also
- Customer engagement
- Influencer marketing
- Advertising
- Evangelism marketing
- Publicity
- Business Marketing
- Reputation management
- Customer lifetime value