The Prospect of User Generated Content (UGC)

Since the last few years, User Generated Content (UGC) has emerged as a phenomenal creation all over the world especially in Ireland. Down the line, social networks, personal blogs, online communities, regular and casual product reviews will not only be looked upon by people only but will be significant to them. News sites, voyage sites, and photo-sharing sites have largely influenced our socio-economic lifestyle. However, the industry now seems hesitant about taking the next step! For instance, even the good old Retail industry will undergo a drastic transformation, which is evident from the stat given below. (A survey was conducted on 432 Danish enterprises for determining the key features that enabled them to outperform their peers, even in terms of surviving acute financial crises. The same study identified that 27% of the companies performed significantly better as compared to their industry peers.)

• Consumer purchasing decisions are influenced by online reviews apart from word-of-mouth marketing [Source: Rubicon Consulting]
• Nearly 81% of people rely on consumer reviews before making purchase decisions [Source: Nielsen Online via BizReport]

However, as it happens in the case of swift socio-economic transformation, UGC has developed some serious troubles that you might face if you adopt it as your business strategy in Ireland. The most significant ones among them are given below:

Volume – The sheer volume of it will overpower you, distracting you from short-listing the right path. Value – When everyone has something to say, it becomes difficult to listen to only one. This depicts the confusion created by UGC.

Excess of good things may turn towards a negative scenario

A limitless collection of information through UGC channels may lead you to nowhere, ending in utter desolation. A quick look at the following figures compiled from digital research firm Econsultancy will convince you about its vastness.

• More than 4.5 billion chunks of content, blog posts, web links, news stories and similar such things are shared each week on Facebook.
• Presently, the average number of tweets per hour is around 3.5 million.
• 5% bloggers spend more than 11 hours each week for blogging.
• 38% bloggers post brand or product reviews on a daily basis.

Nonetheless, the answer lies in seeking reliable content, though the filtration procedure can be as lengthy and time-consuming as happens in a Fractionating Column.

To what extent can we rely on UGC?

• 90% of aggregate online visitors to social sites are “lurkers” who hardly contribute
• 9% are occasional contributors
• Only 1% comprise active contributors