FR3 Minutes #2 | Social Proof In Your Fitness Business
Social proof is a psychological phenomenon referring to people’s reliance on the feedback and actions of others to determine what is right and what is wrong for them.
Studies show that 70% of consumers say they look at product reviews before making a purchase, and product reviews are 12x more trusted than product descriptions from manufacturers.
Thanks to social media, social proof has been turbo boosted and catapulted into many of lives. People sharing successful or unsuccessful experiences on-line is social proof.
Asking friends on Facebook do they know a gym or a personal trainer who gets results is also social proof.
There are 5 types of social proof and they go beyond what I imagined . . .
- Expert Social Proof. This is when you get the thumbs up from a credible expert. Their proof can come in the form of a Twitter mention, a Facebook share or holy grail a dedicated blog post.
- Celebrity Social Proof. A thumbs up from a celebrity is generally a pure gold endorsement – if it authentic. Take into account a celebrity in your community may not be someone on TV or radio, they could be the captain of the local sporting team – whom everyone knows.
- User Social Proof. The benefit of this proof is we can imagine ourselves in other people’s shoes when we read or hear their story – so long as that person is like me! Stories can be incredibly persuasive as they feel more real.
- Wisdom of the Crowds Social Proof. Ever lined up to get into a nightclub? This is the approval from large numbers of people and we suffer FOMO – fear of missing out. So we act.
- ‘Wisdom of Your Friends’ Social Proof Social media has sparked dozens of different ways to provide this kind of social proof. Facebook widgets that show other Facebook friends that “like” a brand is just one example.
Which is the most powerful?
They are all as good as each other as an independent third party is telling others how good you are!
One study of a German bank found that customers who came from customer referrals had 16% higher lifetime value than those who came from other acquisition sources and the customers churn was 18% less.
What now . . .
Well now you know this stuff, start using it! Start being pro-active!
Justin is the Managing Director of Active Management, which he began January 2004. He offers coaching to businesses worldwide in everything from start up and design to marketing and sales systems. Justin also facilitates four Australian and New Zealand ‘fitness industry roundtables’ events, which allows him to see a huge cross section of business models.