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A New Way to Measure Word-of-Mouth Marketing

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A new way to measure word-of-mouth marketing
Assessing its impact as well as its volume will help companies take better advantage of buzz.

By Jacques Bughin, Jonathan Doogan, and Ole Jorgen Vetvik

Summary

Consumers are usually value opinions expressed directly to them. Marketers should spend millions of dollars on advertising campaigns, as simples and free products are not as powerful as word-of-mouth, which is the primary factor behind 20 to 50 percent of all purchasing decisions, to make up customers’ mind. Actually, word-of-mouth could cut noise quickly and effectively.

Although customer will conduct more research, seek more opinions, and deliberate longer when they want to purchase new r expensive products, word-of-mouth …show more content…

For example, consumers are more likely to rely on trusted networks.

Harnessing word of mouth

Word of moth can create a sustainable and significant competitive edge marketing approaches. However, this is a concern for marketers that they cannot draw on extensive data or elaborate marketing tools fine-tuned over decades. The starting point for them is to understand which dimensions of word-of-mouth equity are most important to a product category. It will be better of companies to consistently refresh the product experience in order to make consumers more willing to talk about it positively.

Besides, companies can use customer satisfaction insights to develop new products and services for the purpose of fulfilling their needs. The insights should be deviate from both expectations of customers and dimensions that matter to the customer and that he or she is likely to talk about.

Interactivity and creativity is a must for creating positive word of mouth. More effort should be put on the ideas of marketing activities to create consumer-to-consumer word of mouth.

Comments/ What I have learnt

The importance of a product’s features
By emphasizing on the product’s features, the marketers can achieve the most for creating greater impact of word of mouth. It is because customers usually care more about the benefits that they can gain from a product or service. The greater advantages that they will

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