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February 2006

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Measuring the Impact of Word of Mouth

In a new white paper on BtoB word of mouth marketing, The Phelon Group has outlined three key strategies crucial for measuring the impact of word of mouth programs:

* Measure and promote "Return on Reference" -- Determine the impact that satisfied customers have on various influencers.

* Measure and leverage market visibility -- Use new tracking services to monitor company mentions across all media (print, broadcast, and online media).

* Evaluate and foster customer commitment -- Go further than loyalty and measure a customers' willingness to recommend a product or service to a friend.

Source: The Phelon Group, "How B2B Marketers Shape, Measure and Leverage the Power of 'Word of Mouth' for Increased Revenue Growth".

Get the paper

Posted by WOMMA Editor at February 26, 2006 |

Study Finds WOM Big Influence on Car Purchase

When it comes to gathering information on vehicles, nearly half of all perspective car buyers rely on word of mouth as a key influencer.

According to a new Harris Interactive poll, 52 percent of consumers said they relied on recommendations from friends and family. Dealership visits were still the biggest single influencer at 77 percent and information gleaned from auto manufacturers' web sites came in second at 58 percent.

The study also confirmed the Internet as a huge influencer by itself. 68 percent of all new car buyers said that the Internet was a huge influencer on their choice, with Edmunds.com and ConsumerReports.org the most visited destinations.

Source: Harris Interactive, "Automotive Website Assessment Study".

Read the press release

Posted by WOMMA Editor at February 13, 2006 |

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