Last week’s blog talked about how third party endorsements can benefit both the endorser and endorsee. Endorsements, recommendations, approvals, or commendations are really valuable to marketing a business, product, or service. Their importance lies in the psychological phenomenon known as “social proof.”
A social proof, also referred to as informational social influence, is when a person is uncertain about a situation or course of action so they look to others to guide their decisions and actions. A third-party endorsement is a social proof and people will respond to it accordingly. If a respected company recommends the company, product, or service, then a person who hasn’t the experience or knowledge will align his or herself with the respected company’s endorsement.
For example, a person is looking to buy a new television, but hasn’t bought a new one in 10 years, and they are going to need help choosing which one to buy. After doing some research, when that person picks out a few models, his or her decision will likely be swayed by the product with the best reviews. When all else appears to be the same, a glowing recommendation from a respected source can be the deciding factor.
As Jenny Kintner, group manager of Content Sales & Licensing at The YGS Group puts it, “The value of a well-respected publication naming your company or product as the ‘Best’ or ‘Top’ in the industry goes a long way, (especially when you use it online, in advertising, on product packaging, in-store display, etc.) and it will help you win clients. If the list or award has a well-known mark (logo, seal, etc.) to go along with it, your clients will immediately identify your company or product with that same well-respected brand. Just what you want to get in front of your clients and prospects.”
The Content Sales & Licensing department at The YGS Group works with the reviewed company to license the recommendation—review and logo—so that they can take full advantage of the social proof that endorsement provides.
“When a company, product, or service receives a great quote, award, or ranking, we help those companies to understand the value of incorporating that accolade into their marketing and advertising campaigns,” added Jenny. “The Content Sales & Licensing Team at YGS contracts with publishers to license their content to the companies who are featured in their publications.”