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TOP OF THE WEEK TO YOU! (by realwired! CEO, Brenda Dohring Hicks)
Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry. |
What Happened to "Don't Do it Just Because Everyone Else is?"
I grew up, probably like many of you, being taught by my parents not to simply follow the crowd. Be our own person. Make our own decisions. Use our own judgment. So, how does this fit into today's world of social media? Social media is all about following the crowd...or is it? Let's look at some science.
A group of HP Labs computer scientists asked 600 participants to answer a few simple questions about online photos. Two of the questions were: "Which of the two baby pictures is cuter, and which of the two couches would you choose to buy for a friend?"
Whichever the participants chose, the researchers rigged it so the other picture was shown to be more popular by using a Facebook-style Like system. The participants were then given the chance to change their minds and the researchers also changed the number of Likes each picture got, and also waited a different length of time before giving them a second chance to choose.
The results? 22% of people were swayed by the peer pressure if there was a long gap between the first and second chance. When they had to choose immediately, only 14% of participants changed their minds. Fascinating don't you think? But here's the part that I found most interesting, people changed their minds when there were a moderate number of Likes for the other image and as soon as the Likes were outweighed by 20+ times, the participants stuck with their original choice. So it seems that if too many people disagree with us we dig our heels in. We aren't swayed. We get stubborn.
So what does all this mean? Well first, it's just plain interesting. And sometimes I think that's enough. But since I'm supposed to be on task here talking about technology, here's why I bring this study to your attention and what we should take away from it. Use this technology to get your message out, but be very, very careful to be gentle about how you do it. It seems that reporting that a few people having chosen your services is more persuasive than too many people having chosen you.
Remember our parents talking about friends jumping off bridges? Personally I never knew anyone who did such a thing. And what about the "Just because everyone else is doing it doesn't mean you have to do it." These words of wisdom seemed appropriate for everything from staying our after dark to fitting in one more game of hide n' seek, to wearing makeup and panty hose. I'm sure you have your own set of ..."just because everyone else is doing it." Clearly there were a lot of forms of peer pressure when we were kids. And the thing our parents didn't tell us is it never really goes away. Once we're older, the things that everyone else is doing are just on a grander scale. And it seems that social media makes it really acceptable.
I think most people use the Likes we see everywhere as innocuous and when we give it a tap, we generally think we're doing something good. Something nice. So I just bring this study on Likes to your attention this week mostly because I find it interesting. But I hope you'll get some insight on how to use and measure this very new, interesting form of peer pressure so it works for you rather than against you.
I welcome your feedback through email.
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Hot Deals/Leads
Wendy's of Rochester trades as Wendy's Old-Fashioned Hamburgers at 100 locations throughout MI, NY, OH and PA. The fast food restaurants occupy spaces of 3,600 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years with specific improvements. For more information, contact Greg Barkstrom, Wendy's of Rochester, 20 North Union Street, Rochester, NY 14607
Jersey Mike's Franchise System trades as Jersey Mike's Subs at 560 locations nationwide throughout 31 states. The sandwich shops occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in strip centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years with options. Preferred cotenants include grocery stores. Preferred demographics include a population of 50,000 within three miles earning $50,000 as the average household income. Major competitors include Blimpie, Subway and Quiznos. The company is franchising. For more information, contact Mike Parkhill, Jersey Mike's Franchise System, 2251 Landmark Place, Manasquan, NJ 08736
Rosa Mexicano operates 15 locations throughout CA, FL, GA, MN, NJ, NY, MA and Washington, DC. The Mexican restaurants prefer to occupy spaces of 5,000 sq.ft. to 12,000 sq.ft. in endcaps of strip and lifestyle centers and urban/downtown areas. Growth opportunities are sought throughout Chicago, IL; St. Louis, MO; Houston, TX, and metropolitan areas nationwide during the coming 18 months, with representation by Higdon Development. Typical leases run 10 to 12 years with options. A tenant improvement allowance is required. The company prefers to locate in affluent areas. For more information, contact John Higdon, Higdon Development, PO Box 3307, Cedar Park, TX 78630
Like these leads? Want More? Go to the Dealmakers website for a Subscription. Dealmakers, the nation's weekly news source on retail real estate.
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