The “New Thing” in marketing the second half of this decade has been social media marketing and brand management. If you have avoided it thinking it was a useless trend that was all hype, you want to continue reading this post and think again…
From TV, radio, Internet, cellular technology, to print media, the exchange and delivery of information broadens our knowledge base and enhances our decision-making ability. Marketers are keenly aware of this inasmuch as they soberly realize that not all avenues of communication provide the same measure of control when it comes to brand exposure and consumer perceptions. Indeed, there is some valid concern over product-related discussions occurring on a mass scale via social media outlets. But there is good news.
According to a study conducted by Keller Fay Group, a firm dedicated to researching word-of-mouth marketing by sampling thousands of online and offline conversations, brand references are largely “positive.” If this isn’t cause for encouragement, two-thirds of those surveyed believed that positive word-of-mouth reviews were credible, whereas less than half were influenced by negative buzz. Obviously word-of-mouth is powerful, but apparently when positive, all the more persuasive. This kind of advertising carries considerable weight. Not only is it free, but based on the study favorable brand reviews appear to have a much more pervasive effect, resulting in consumers being twice as likely to engage in further brand research, and nearly four times as likely to make a purchase.
Thanks Keller Fay. The word is in- word-of-mouth advertising has a profound impact in driving brand growth.