Tuesday, October 12

Facebook's 'Herding Instinct'

Research from Oxford University shows that consumers have a herding instinct to "follow the crowd" once a clear winner is established. However, this instinct appears to switch off almost entirely if the product fails to achieve a certain popularity threshold. The study concludes that while some books and films are highly advertised by their producers, that element is only a small fraction, leaving the great majority of books and films exposed to the forces of social influence.

The study concludes that social influence had a key role in whether apps became flops or hits.
They discovered that once an app had reached a rate of about 55 installations a day, its popularity then soared to reach stellar proportions.

Read more here.