Retweet: The Infectious Power Of Word Of Mouth
Per Manisha: "Jeremiah Oqyang discusses the power word of mouth marketing has in his article about WOM marketing and Twitter- "ReTweet: The Infectious Power of Word of Mouth". The repaid speed at which information is shared on Twitter makes it a powerful source for marketing- especially WOM marketing. If someone takes the time to "ReTweet" this means not only did they take it as a source of information, but that they also wanted to share this information with their friends by copying the original tweet and sending it on. He states "we trust the opinions of people we know more than anyone else", so how does this influence companies?"The Buzz Starts Here: Finding the First Mouth for Word-of-Mouth Marketing - Knowledge@Wharton
Call it viral, buzz or word-of-mouth advertising: Getting customers to spread the word about a new product through their social or professional networks is a hot strategy in the marketing world. Its proponents insist that the technique -- whether online or face-to-face -- is sure to boost a company's return on investment (ROI).
research papers or on conference speaker lists. "Physician 184 was self-effacing. He did not want to stand on a soap box," said Van den Bulte. "He was respected, but not in a flashy fashion. He was the opposite of a rock star."
The Buzz Starts Here: Finding the First Mouth for Word-of-Mouth Marketing
Knowledge@Wharton Marketing Research ArticleView Article on Knowledge@Wharton MobileCMO Council: Marketers Should Be in Charge of Social Media - Advertising Age - CMO Strategy
From Jenna A: Below is a great article about how the marketing departments and CMOs should own the word of mouth marketing and social media space within their company, through a survey to some of the world's top companies (i.e. J&J, P&G, etc.). The article also discusses that many of these same companies both do not understand how either of these tactics (WOM and social media) affect their brands nor the best way to track what's being said about them. Through this article, we learn that we need to help our clients better understand what we do everyday with WOM and social media and how it can and will help them. Also, we can see that our clients will be monitoring these tactics much more closely as they continue to grow, allowing us to develop better metrics, tracking methods and impressions calculations to provide the best possible programs for their needs.
One problem for marketing executives is that they're not clearly in charge now of managing the customer experience, customer loyalty or social media today, given that public-relations, sales, consumer-affairs and research-and-development departments all have a stake in those areas now.
Who in corporate America owns the consumer relationship, the customer experience, word-of-mouth or social media? The answer appears to be nobody.
"The survey of 400 executives found that 56% said their companies have no programs to track or propagate positive word-of-mouth."
Survey by the CMO Council of 400 executives. "Survey said that 56% of respondents said that their companies have no programs to track or propagate positive word-of-mouth; 59% don't compensate any employees based on improvements in customer loyalty or satisfaction; and only 30% rated their companies highly in their ability to handle or resolve customer complaints. " "Despite all the hype about social media, only 16% of respondents said their companies have any routine system in place for monitoring what people are saying about them or their brands online."
Looks at what P&G is doing to track WOMDefinitive Guide to Word of Mouth Marketing - Left The Box
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What is Word of Mouth Marketing Why Word of Mouth Marketing is Important - Pitfalls of Advertising - During Product Creation Elements of Word of MouthThe State of Online Word of Mouth Marketing [STATS]
In a session yesterday at Forrester’s Marketing Forum, Forrester analysts Josh Bernoff and Augie Ray presented research findings on peer influence and word of mouth marketing. Some of the statistics were surprising, and the presentation was rife with practical tips for marketers we thought worth sharing.
Masable word of mouth marketing