Word of Mouth, a Growing Segment in Advertising

image_pdfimage_print

According to a recent PQ Media research report, many major brands are increasing their word-of-mouth marketing campaigns despite the worst recession in decades.

Last year, companies increased their word of mouth advertising efforts by more than 14 percent, to more than $1.54 billion. Furthermore, according to the report, spending on WOM campaigns is expected to reach as much as $3 billion by the year 2013.

PQ Media defines WOM marketing as “an alternative marketing strategy supported by research and technology, which encourages consumers to dialogue about products and services through various online and offline tactics, often facilitated by brand ambassadors.”

“The most invluential marketer in a consumer’s life is someone they know and trust, such as a family member, friend or colleague,” according to Patrick Quinn, president & CEO of PQ Media.

Developing WOM communities both online and offline is part of an emerging trend. What are you doing to participate in this trend? I’d love to hear your feedback on this important and growing element in business.


Related Posts Plugin for WordPress, Blogger...
9 replies
  1. Joe Costantino
    Joe Costantino says:

    The more cluttered the marketplace becomes with marketing messages from every angle, the more important, I believe WOM marketing will become.

    More times than not, most people do business with people they know and trust. If you believe this, then the real objective of any business owner is to continually build credibility and trust.

    Reply
  2. Mike Vickers
    Mike Vickers says:

    Hi
    What surprises me is that WOM is only now being featured. It seems to me from the beginning of time people have recommended products and services by mouth or even by signs.
    Sorry I have been a member of BNI for close on 10 years so perhaps I am biased!

    Reply
  3. Lisa Raymond
    Lisa Raymond says:

    I have visited several networking groups in Phoenix, Scottsdale, and Glendale, and hearing how people are growing their businesses rather than giving in to the recession and making excuses is by far THE most motivating testimony for a new entrepreneur to witness! I don’t believe WOM will become; it is HERE for those who choose to embrace it, learn it, and achieve it.

    Reply
  4. H M SUTHAR
    H M SUTHAR says:

    I consider it most important to build trust and confidence. VCP concept is of prime important. I therefore always see that my approach to my clients is positive and honest. It is very important that once advise is asked for one must be very sincerely attempt with the best of his knowledge to attend to the issue raised by client.

    If one is not sure about something it must be directly or indirectly brought to the knowledge of client. WOM being very crucial in the profession such as legal profession one’s nature, behaviour with client, timely attendence, and sincere approach to the issue play major role.

    It is also important that the client must be given clear idea about one’s weak points if one does not have reasonable knowledge in such matter.

    This help you get reasonable mouth publicity through every one who comes in tourch with you.

    Reply
  5. Terry Miller
    Terry Miller says:

    WOM, Basic and to the point. I have never been able to get my point across to anyone better the WOM. I see you, feel the emotion and I am able to react personally with you. WOM to me, cannot be replaced on a 1-1 scale.

    Reply
  6. Tim Vernon
    Tim Vernon says:

    Word of Mouth has always been and always will be the most powerful way of marketing our businesses. One thing to remember is that when you do a great job, the customer is likely to tell 3 friends or colleagues, if you do a bad job they are likely to tell up to 10. Which makes it even more important to get right.

    The bottom line is, if somebody recommends you to a business , you are far more likely to buy from them than any other marketing method. It’s all about trust. Build relationships with people who trust you and they will spread the word.

    Tim Vernon, Collingtree Chapter, UK

    Reply
  7. Arrowood
    Arrowood says:

    I have visited several networking groups in Phoenix, Scottsdale, and Glendale, and hearing how people are growing their businesses rather than giving in to the recession and making excuses is by far THE most motivating testimony for a new entrepreneur to witness! I don't believe WOM will become; it is HERE for those who choose to embrace it, learn it, and achieve it….

    Reply
  8. Gordie Allen
    Gordie Allen says:

    Like so many other BNI practioners, I’m surprised its taken so long for WOM to be recognized as the premier marketing tour de force in our entrepreneurial marketplace. I guess better late than never! Bravo to you Ivan for staying the course and making WOM gain the recognition it deserves! Thanks for making it happen. Gordie Allen, Professional Connections, Central Florida

    Reply
  9. Katahryn Eaton
    Katahryn Eaton says:

    I come from a family of multi-generational business owners. WOM was the only way they built their businesses. My father had an auto body shop in NJ with a waiting list soemtimes 1-2 years long. He built it solely on WOM. As an accountant, it is crucial to the growth and success of my firm. With the exception of a website soon to come for links and information sharing, and the occasional sponsorship ad for a school or sports program, all my business marketing and development is done through WOM. It has been very effective.

    Reply

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

nine − 1 =

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>