Tuesday, April 19, 2005

The business behind blogging: Bespoke tailor sees sales lift

Here's a merry statistic behind the buzz of blogs and the business they can potentially generate. According to fellow blogger Red Couch, Tom Mahon's English Cut blog has created a 300% increase in new business in 10 weeks since posting his first blog entry at the beginning of 2005. The English Cut, if I'm not mistaken, is the world's first blog by a bespoke tailor.

Now, this sales lift is probably not sustainable over time but it does illustrate the power of technology-assisted marketing to reach and convert new customers for your product or service. Synergies between $3,000 bespoke suits and RSS feeds - who would have thought?

Yet the logic is powerful - blogs are proven to generate what is known as "buzz". Here's how it works. Blogs immediately extend your available network of influencers (e.g. those who generate buzz). These newly added influencers interact and communicate with their own social networks, clients, peers, colleagues and captive audiences. If the buzz is compelling, it's passed onto their friends, colleagues and acquaintances. Bingo - you've just increased your potential customer base by tapping into the buzz generated by blogs.

The concept should sound familiar. When buzz converts a certain percentage of listeners, that is called old-fashioned "word of mouth". Blog-assisted buzz is just word of mouth plus technology.

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