Centres of influence

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Centres of Influence, or Circles of Influence (COI) is a common marketing term that describes the key people within a businesses target client segment they wish to penetrate.[1][2]

Building a COI network takes time and a common mistake businesses make when engaging with COI’s is to expect immediate results. These professional advisers of customers generally take a lot longer to develop trust with than what it takes for a satisfied customer to refer a friend.[3]

The benefits of this referral isn't only towards the business being advocated, but also to the person making the referral. They are motivated to make the referral as it will increase their standing amongst their peers; as such the referral acts as social currency and both parties benefit.[4]

References

  1. Focus on your InfluenceBusiness Women Media, 17/05/18, Retrieved 06/04/18
  2. Lublin, J. Leveraging Circles of Influence: Be Influential Workbook: Step-by-Step Publicity Strategies to Success. Morgan James Publishing. 2006
  3. Dagher, Veronica (16 August 2013). "Don't make these mistakes with Centres of Influence". https://www.wsj.com/articles/SB10001424127887323639704579016550217786932. 
  4. Wershing, Stephen (2 October 2012). United States of America: McGraw-Hill Education. pp. 162–163. ISBN 0071808191. 

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