Ralph Treeborn says Word of Mouth advertising will be huge!
Posted by Admin @ November 19th, 2007 in Social Marketing
Word-of-mouth advertising is projected to grow at a large rate over the next few years, after an already impressive growth over the last six years, reports MarketingCharts. The study was based on US spending, but at 77 we see important information mostly in the following data:
‘Helping to fuel WOM marketing’s growth are a projected 3.5 billion brand-related conversations per day in the US, according to Keller Fay Group, with nearly 80% of consumers trusting recommendations from family, friends and “influential” persons over all other forms of advertising and marketing.’
As we have noted before, practically all markets are becoming more transparent all the time. Consumers have less faith in marketing messages than they have in the opinions of friends and online connections have made these opinions more available. Brands will need to work on influencing the public opinion – in an ethical way – and the research mentioned above shows that at least American companies are catching on. We will keep looking out for a similar European research.
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Brilliant, thanks for the heads-up