Markets are Conversations – What drives Word-of-Mouth Marketing Today?

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Markets are Conversations – What drives Word-of-Mouth Marketing Today?

  1. 1. BSI<br />MarketsareConversations – Whatdrives Word-of-Mouth Marketing Today? <br />Luxembourg, 1. July 2010<br />
  2. 2. WHY IS <br />WOM SO CRUCIAL?<br />
  3. 3. TRANSACTION MARKETING<br />
  4. 4. RELATIONSHIP MARKETING<br />
  5. 5. CONSUMERS LEARN!<br />
  6. 6. Transaction Marketing<br />WOM<br />Relationship Marketing<br />C<br />C<br />C<br />B<br />B<br />C<br />1960<br />1990<br />2003<br />SocialProductbenefit<br />+ Emotional Productbenefit<br />+ FunctionalProductbenefit<br />Emotional Productbenefit<br />+ FunctionalProducbenefit<br />FunctionalProductbenefit<br />
  7. 7. SO WHAT IS WOM?<br />
  8. 8. NO!<br />
  9. 9. NO!<br />
  10. 10. NO!<br />
  11. 11. THIS IS WOM!!!<br />
  12. 12. WOM 1969<br />
  13. 13. WHAT ARE THE DRIVING FORCES?<br />
  14. 14. NETWORKS<br />MOTIVATION<br />
  15. 15. WHO IS THIS?<br />
  16. 16. Connector?<br />Maven?<br />Opinion Leader?<br />Trendsetter?<br />Hub?<br />Influential?<br />Alpha?<br />Bee?<br />Sneezer?<br />Heavy Loyal?<br />Lead-User?<br />
  17. 17. NO WAY!<br />
  18. 18. LIGHT LOYAL:LUCY!<br />Quelle: Brand Science Institute 2008: Exploring The Effects of Weak-Ties on Brand Community Performance<br />
  19. 19. TIE STRENGTH<br />TIE DENSITY<br />„sparse“ network<br />„dense“ network<br />
  20. 20. WHAT MOTIVATES LUCY TO TALK ABOUT BRANDS/PRODUCTS/SERVICES?<br />
  21. 21. Interaction Target Groups<br />Marketing Management<br />WOM Motives<br />Purposive<br />Waste of money<br />Altruism<br />Best of luck<br />Self-Discovery<br />Low product/brand involvement <br />Enjoy Talking<br />(self-assurance) <br />Difficult to control and stimulate<br />SocialEnhancement(emotional/cognitiveincongruence)<br />Potentially powerful<br />Entertainment (information incongruence)<br />Hard to conceptualize<br />
  22. 22. = TREND SPREADER<br />
  23. 23. KEY APPROACHES<br />
  24. 24. 1.<br />
  25. 25. INTERRUPTING SCHEMAS<br />
  26. 26. WHAT COMPELS US TO TALK ABOUT AN EXPERIENCE?<br />DISRUPTED EQUILIBRIUM <br />
  27. 27. WHAT COMPELS US TO TALK ABOUT AN EXPERIENCE?<br />DISRUPTED EQUILIBRIUM <br />
  28. 28. 2.<br />
  29. 29. CONCEPTUAL BLEND<br />TWO FAMILIAR = UNFAMILIAR = DISRUPTIVE<br />
  30. 30. LET LUCY LOOK BETTER – DISRUPTION/BLENDS ARE KEY TO SOCIAL ENHANCEMENT<br />
  31. 31. TRY TO MEASURE WOM<br />
  32. 32. SELF-REPORT<br />1-DAY PROXIMITY<br />15% of all conversations involve brands and products<br />40% of all conversations are about media<br />Source: MIT Media Lab<br />
  33. 33. INNER<br />OUTER<br />Quelle: Northeastern University<br />
  34. 34. 18x<br />2.7x<br />??<br />G0<br />G1<br />G2<br />G3+<br />Quelle: Northeastern University<br />
  35. 35. WOM CHALLENGES<br />
  36. 36. WHO IS RESPONSIBLE FOR WOM?<br />
  37. 37. FEAR OF THE UNKNOWN<br />
  38. 38. KEY LEARNINGS<br />
  39. 39. UNDERSTAND THE MARKETING-PARADIGM CHANGE<br />FIND THE RIGHT PERSON(S) TO MANAGE WOM IN-HOUSE<br />GET TOP-LEVEL SUPPORT FOR WOM INITIATIVES<br />OBSERVE AND LISTEN TO YOUR CONSUMERS AND THEIR NETWORKS FIRST<br /> UNDERSTAND WHAT SCHEMAS ARE AT PLAY<br />DISRUPT SCHEMAS MILDLY/OR FIND BLENDS THAT MAKE SENSE<br />TEST AND VERIFY DISRUPTED SCHEMAS/BLENDS UNTIL YOU REACHED THE TIPPING POINT<br />CONNECT WITH TREND SPREADERS TO ROLL-OUT YOUR DISRUPTED/CONCEPTS AND BLENDS<br />MEASURE THE SUCCESS OF YOUR WOM INITIATIVE<br />

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