Traffic Blaster

In many respects marketing by word of mouth can be said to be the “hidden statistic” for all programs, as it’s well near impossible to actually gauge the effectiveness of marketing done this way. It should be mentioned that every product in this digital age has relied on this marketing methodology to drive public awareness of a product or service.

A recent study exemplified that two thirds of online marketing is expected to be done this way next year, which when coupled with the advent in leaps of Web 2.0.0 social networking and social marketing sites point towards promoting your product by word of mouth may be both more cost effective, and have an increasingly better ROI than more “traditional” online advertising media.

Consider the business model of any of the current online social networking sites. There has yet to be a successful site of this type that charges monthly, relying instead as they do on ad generated income. While there is no metric that can be used to measure marketing by word of mouth, there is one method of knowing if your campaign is worth while – sales.

A company must know from their output exactly the difference between pre campaign, during a campaign and post campaign. This in itself gives businesses a measurable statistic to show effectiveness of this marketing methodology. It is true that not all businesses need or desire this form of sales technique, but is also through that not one business turns away prospects garnered from the by word of mouth method either.

Whatever you sell, a great study completed by Hill and Knowlton in February this year showed that decision makers are largely influenced by personal experience’s (58%), with recommendations and industry reports coming in at 51%. Coming in third was direct marketing at 21% with internet advertising at 17%. These figures may only reflect the purchasing habits of key decision makers, but a young lady in Oregon deciding to buy one car insurance or another IS the key decision maker for that purchase, and her buddy Becky telling her to go with this company over that company will have a greater influence than any gravel-voiced actor pushing the product in a TV advert.

In essence, this statistic may be calculated into any industry, any niche, if every person is classified as the key decision maker. This makes the re-appearance of the world’s oldest method of marketing a no brainer – so get talking or tweeting, but tell everyone!

This entry was posted on Saturday, May 9th, 2009 at 9:56 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.