W is for Wisdom of the Crowd
You have two similar restaurants to choose from on an unfamiliar high street. One is empty and one is crowded. Which do you choose?
About half of Europe has a Facebook account – when the other half look for a Social Platform, where will they look first?
Metcalfe’s law is that the value of a network is the number of users squared (n2).
Gianfranco’s Law of Crowds – Attraction of a network is based on .
(The Number of Users × The Number of Users you know × The Number of Sites it gives you access to
(The Number of Ways it Offers Brands the Opportunity to Gain Access to you)2
Conversely a Brand can learn a lot from the Crowd ( look at how Starbucks use the crowd for product development through ),but remember that sometimes the needs of the one outweigh the needs of the many.