Marketing with the Masses the Science of Word of Mouth

1 MARKETING WITH THE MASSES THE SCIENCE OF WORD OF MOUTH WHAT IS WORD OF MOUTH? WHERE DOES IT START AND WHY? Word of mouth marketing (WOMM) is the sharing of a brand message from consumer to consumer without financial incentive. Though employing this method as part of a marketing effort is seemingly unpredictable, many companies are seeking to harness the potential power that lies within social communities. í All things being equal, you root for your own sex, your own culture, your own locality... And what you want to prove is that you are better than the other person. Whomever you root for represents you; and when he wins, you win. WHY IS IT WORTHWHILE? 500,000,000,00 -Dr. Robert Cialdini, author of Influence: The Psychology of Persuatsion The number of brand impressions each year generated by word of mouth sharing, according to Forrester Research. Experiential: Dialog resulting from a consumers direct experience using a product or service. The most common and influential form, this accounts for 50-80 percent of all word-of-mouth activity. Top 3 Factors That Influence Whether A Product Is Considered Stage 3 Moment Of Purchase Consequential: Discussion as a result of a brand's marketing activities. This occurs when a consumer relays the message in traditional advertising, which often carries more weight than the ad itself. Stage 1 Initial Stage 2 Active Consideration Evaluation 65 Mature Intentional: Dialog originating from an influencer chosen to speak for a brand, often a celebrity or top blogger. This form is less common and significantly less Markets 29 20 19 20 effective. 10 • Advertising • Previous Usage • Word Of Mouth • Internet Information • Internet Information WHERE IS IT HAPPENING? • Shopping Shopping Word Of Mouth • Word Of Mouth .................... The largest and most powerful venue for word of mouth sharing is the ever-growing and ongoing conversations enable users to spread their thoughts about the companies, products and services they use everyday. This provides an important opportunity for a brand's reputation to be either built or tamished by consumers. social communities online. Constant connec ness 26 18 17 Developing Markets 13 9 • Word Of Mouth • Word Of Mouth • Advertising • Previous Usage: • Word Of Mouth. • Advertising • Previous Usage • Advertising • Previous Usage Influencer Pyramid Influencers with a large audience such as top bloggers with many followers HOW CAN YOU MAKE YOUR WOMM Account for 80% of all influence impressions about products EFFORTS SUCCESSFUL? • Social Broadcasters (1%) .....: The average consumer, who has high levels of trust with friends and family • Mass Influencers (16%) D Contact key influencers • Potential Influencers (83%) ........ 2. Target Relevant Social Channels Share of impressions Share of posts o facebook • ratings/reviews Communicate clear and 3. discussion forums •myspace shareable message o twitter • blog comments o linkedin e other social network • blog posts COLUMNSFIVE SMASH SUMMIT 1 MARKETING WITH THE MASSES THE SCIENCE OF WORD OF MOUTH WHAT IS WORD OF MOUTH? WHERE DOES IT START AND WHY? Word of mouth marketing (WOMM) is the sharing of a brand message from consumer to consumer without financial incentive. Though employing this method as part of a marketing effort is seemingly unpredictable, many companies are seeking to harness the potential power that lies within social communities. í All things being equal, you root for your own sex, your own culture, your own locality... And what you want to prove is that you are better than the other person. Whomever you root for represents you; and when he wins, you win. WHY IS IT WORTHWHILE? 500,000,000,00 -Dr. Robert Cialdini, author of Influence: The Psychology of Persuatsion The number of brand impressions each year generated by word of mouth sharing, according to Forrester Research. Experiential: Dialog resulting from a consumers direct experience using a product or service. The most common and influential form, this accounts for 50-80 percent of all word-of-mouth activity. Top 3 Factors That Influence Whether A Product Is Considered Stage 3 Moment Of Purchase Consequential: Discussion as a result of a brand's marketing activities. This occurs when a consumer relays the message in traditional advertising, which often carries more weight than the ad itself. Stage 1 Initial Stage 2 Active Consideration Evaluation 65 Mature Intentional: Dialog originating from an influencer chosen to speak for a brand, often a celebrity or top blogger. This form is less common and significantly less Markets 29 20 19 20 effective. 10 • Advertising • Previous Usage • Word Of Mouth • Internet Information • Internet Information WHERE IS IT HAPPENING? • Shopping Shopping Word Of Mouth • Word Of Mouth .................... The largest and most powerful venue for word of mouth sharing is the ever-growing and ongoing conversations enable users to spread their thoughts about the companies, products and services they use everyday. This provides an important opportunity for a brand's reputation to be either built or tamished by consumers. social communities online. Constant connec ness 26 18 17 Developing Markets 13 9 • Word Of Mouth • Word Of Mouth • Advertising • Previous Usage: • Word Of Mouth. • Advertising • Previous Usage • Advertising • Previous Usage Influencer Pyramid Influencers with a large audience such as top bloggers with many followers HOW CAN YOU MAKE YOUR WOMM Account for 80% of all influence impressions about products EFFORTS SUCCESSFUL? • Social Broadcasters (1%) .....: The average consumer, who has high levels of trust with friends and family • Mass Influencers (16%) D Contact key influencers • Potential Influencers (83%) ........ 2. Target Relevant Social Channels Share of impressions Share of posts o facebook • ratings/reviews Communicate clear and 3. discussion forums •myspace shareable message o twitter • blog comments o linkedin e other social network • blog posts COLUMNSFIVE SMASH SUMMIT 1 MARKETING WITH THE MASSES THE SCIENCE OF WORD OF MOUTH WHAT IS WORD OF MOUTH? WHERE DOES IT START AND WHY? Word of mouth marketing (WOMM) is the sharing of a brand message from consumer to consumer without financial incentive. Though employing this method as part of a marketing effort is seemingly unpredictable, many companies are seeking to harness the potential power that lies within social communities. í All things being equal, you root for your own sex, your own culture, your own locality... And what you want to prove is that you are better than the other person. Whomever you root for represents you; and when he wins, you win. WHY IS IT WORTHWHILE? 500,000,000,00 -Dr. Robert Cialdini, author of Influence: The Psychology of Persuatsion The number of brand impressions each year generated by word of mouth sharing, according to Forrester Research. Experiential: Dialog resulting from a consumers direct experience using a product or service. The most common and influential form, this accounts for 50-80 percent of all word-of-mouth activity. Top 3 Factors That Influence Whether A Product Is Considered Stage 3 Moment Of Purchase Consequential: Discussion as a result of a brand's marketing activities. This occurs when a consumer relays the message in traditional advertising, which often carries more weight than the ad itself. Stage 1 Initial Stage 2 Active Consideration Evaluation 65 Mature Intentional: Dialog originating from an influencer chosen to speak for a brand, often a celebrity or top blogger. This form is less common and significantly less Markets 29 20 19 20 effective. 10 • Advertising • Previous Usage • Word Of Mouth • Internet Information • Internet Information WHERE IS IT HAPPENING? • Shopping Shopping Word Of Mouth • Word Of Mouth .................... The largest and most powerful venue for word of mouth sharing is the ever-growing and ongoing conversations enable users to spread their thoughts about the companies, products and services they use everyday. This provides an important opportunity for a brand's reputation to be either built or tamished by consumers. social communities online. Constant connec ness 26 18 17 Developing Markets 13 9 • Word Of Mouth • Word Of Mouth • Advertising • Previous Usage: • Word Of Mouth. • Advertising • Previous Usage • Advertising • Previous Usage Influencer Pyramid Influencers with a large audience such as top bloggers with many followers HOW CAN YOU MAKE YOUR WOMM Account for 80% of all influence impressions about products EFFORTS SUCCESSFUL? • Social Broadcasters (1%) .....: The average consumer, who has high levels of trust with friends and family • Mass Influencers (16%) D Contact key influencers • Potential Influencers (83%) ........ 2. Target Relevant Social Channels Share of impressions Share of posts o facebook • ratings/reviews Communicate clear and 3. discussion forums •myspace shareable message o twitter • blog comments o linkedin e other social network • blog posts COLUMNSFIVE SMASH SUMMIT 1 MARKETING WITH THE MASSES THE SCIENCE OF WORD OF MOUTH WHAT IS WORD OF MOUTH? WHERE DOES IT START AND WHY? Word of mouth marketing (WOMM) is the sharing of a brand message from consumer to consumer without financial incentive. Though employing this method as part of a marketing effort is seemingly unpredictable, many companies are seeking to harness the potential power that lies within social communities. í All things being equal, you root for your own sex, your own culture, your own locality... And what you want to prove is that you are better than the other person. Whomever you root for represents you; and when he wins, you win. WHY IS IT WORTHWHILE? 500,000,000,00 -Dr. Robert Cialdini, author of Influence: The Psychology of Persuatsion The number of brand impressions each year generated by word of mouth sharing, according to Forrester Research. Experiential: Dialog resulting from a consumers direct experience using a product or service. The most common and influential form, this accounts for 50-80 percent of all word-of-mouth activity. Top 3 Factors That Influence Whether A Product Is Considered Stage 3 Moment Of Purchase Consequential: Discussion as a result of a brand's marketing activities. This occurs when a consumer relays the message in traditional advertising, which often carries more weight than the ad itself. Stage 1 Initial Stage 2 Active Consideration Evaluation 65 Mature Intentional: Dialog originating from an influencer chosen to speak for a brand, often a celebrity or top blogger. This form is less common and significantly less Markets 29 20 19 20 effective. 10 • Advertising • Previous Usage • Word Of Mouth • Internet Information • Internet Information WHERE IS IT HAPPENING? • Shopping Shopping Word Of Mouth • Word Of Mouth .................... The largest and most powerful venue for word of mouth sharing is the ever-growing and ongoing conversations enable users to spread their thoughts about the companies, products and services they use everyday. This provides an important opportunity for a brand's reputation to be either built or tamished by consumers. social communities online. Constant connec ness 26 18 17 Developing Markets 13 9 • Word Of Mouth • Word Of Mouth • Advertising • Previous Usage: • Word Of Mouth. • Advertising • Previous Usage • Advertising • Previous Usage Influencer Pyramid Influencers with a large audience such as top bloggers with many followers HOW CAN YOU MAKE YOUR WOMM Account for 80% of all influence impressions about products EFFORTS SUCCESSFUL? • Social Broadcasters (1%) .....: The average consumer, who has high levels of trust with friends and family • Mass Influencers (16%) D Contact key influencers • Potential Influencers (83%) ........ 2. Target Relevant Social Channels Share of impressions Share of posts o facebook • ratings/reviews Communicate clear and 3. discussion forums •myspace shareable message o twitter • blog comments o linkedin e other social network • blog posts COLUMNSFIVE SMASH SUMMIT 1 MARKETING WITH THE MASSES THE SCIENCE OF WORD OF MOUTH WHAT IS WORD OF MOUTH? WHERE DOES IT START AND WHY? Word of mouth marketing (WOMM) is the sharing of a brand message from consumer to consumer without financial incentive. Though employing this method as part of a marketing effort is seemingly unpredictable, many companies are seeking to harness the potential power that lies within social communities. í All things being equal, you root for your own sex, your own culture, your own locality... And what you want to prove is that you are better than the other person. Whomever you root for represents you; and when he wins, you win. WHY IS IT WORTHWHILE? 500,000,000,00 -Dr. Robert Cialdini, author of Influence: The Psychology of Persuatsion The number of brand impressions each year generated by word of mouth sharing, according to Forrester Research. Experiential: Dialog resulting from a consumers direct experience using a product or service. The most common and influential form, this accounts for 50-80 percent of all word-of-mouth activity. Top 3 Factors That Influence Whether A Product Is Considered Stage 3 Moment Of Purchase Consequential: Discussion as a result of a brand's marketing activities. This occurs when a consumer relays the message in traditional advertising, which often carries more weight than the ad itself. Stage 1 Initial Stage 2 Active Consideration Evaluation 65 Mature Intentional: Dialog originating from an influencer chosen to speak for a brand, often a celebrity or top blogger. This form is less common and significantly less Markets 29 20 19 20 effective. 10 • Advertising • Previous Usage • Word Of Mouth • Internet Information • Internet Information WHERE IS IT HAPPENING? • Shopping Shopping Word Of Mouth • Word Of Mouth .................... The largest and most powerful venue for word of mouth sharing is the ever-growing and ongoing conversations enable users to spread their thoughts about the companies, products and services they use everyday. This provides an important opportunity for a brand's reputation to be either built or tamished by consumers. social communities online. Constant connec ness 26 18 17 Developing Markets 13 9 • Word Of Mouth • Word Of Mouth • Advertising • Previous Usage: • Word Of Mouth. • Advertising • Previous Usage • Advertising • Previous Usage Influencer Pyramid Influencers with a large audience such as top bloggers with many followers HOW CAN YOU MAKE YOUR WOMM Account for 80% of all influence impressions about products EFFORTS SUCCESSFUL? • Social Broadcasters (1%) .....: The average consumer, who has high levels of trust with friends and family • Mass Influencers (16%) D Contact key influencers • Potential Influencers (83%) ........ 2. Target Relevant Social Channels Share of impressions Share of posts o facebook • ratings/reviews Communicate clear and 3. discussion forums •myspace shareable message o twitter • blog comments o linkedin e other social network • blog posts COLUMNSFIVE SMASH SUMMIT