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The Word on Word of Mouth
 

The Word on Word of Mouth

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    The Word on Word of Mouth The Word on Word of Mouth Presentation Transcript

    • BSI The Word on Word of Mouth Marketing 2.0 Conference, Barcelona 2006
    • Join the conversation MARKETING 2.0 CONFERENCE www.marketing2conference.com
    • The Word on Word of Mouth Dave Balter Founder / CEO BzzAgent, Inc.
    • Viral Marketing
    • Buzz Marketing
    • Consumer Generated Media BzzAgent © 2006 Proprietary and Confidential
    • Shilling: Evil Marketing
    • 2/3 of the US Economy is Influenced by WOM
    • 15% Of Every Conversation Includes a Product or Service
    • 40% Of Every WOM Interaction Includes Communication About Another Media Form
    • 4 Steps to Organizing Honest WOM 1. Enlist Volunteers 2. Provide Experiences 3. Educate 4. Communicate Continue Provide to Appreciate Educate Listen Engage Feedback
    • Key WOM Principles 100% Voluntary No Scripting Invitations, not Auto-Enrollment Positive and Negative Disclose, Disclose, Disclose
    • History of WOM Disclosure January 2006 - Northeastern Study 60 Programs Proves Disclosure Dec. 2001 Test, Study, Oct 2004 Extends Value of Be Anonymous Analyze Please Disclose WOM Programs 2001 2006 Nov. 2002 Nov. 2005 Be Discreet You Must Disclose BzzAgent © 2006 Proprietary and Confidential
    • Measuring WOM 1. Net Promoter 2. Comparative ROI 3. Media Norms
    • Net Promoter ™ Scoring “How likely are you to recommend to a friend or colleague in the future?” Extremely Extremely Likely Unlikely 10 9 8 7 6 5 4 3 2 1 0 Promoters Passively Detractors Satisfied • Median Net Promoter™ Score, all industries: 16 • Median BzzCampaign Net Promoter™ Score: 37 BzzAgent Proprietary and Confidential 2005
    • Case Study: Wharton School Publishing Comparative Return: 66% Lift in WOM Markets 96% of BzzTargets’ first introduction to WSP was through a BzzAgent 76% said they would continue to spread word-of-mouth about Wharton School Publishing BzzAgent Proprietary and Confidential 2006
    • INNER OUTER
    • G0 G1 G2 G3+ 18x 1.7x ??
    • G2 Measurement 10,000 Participants = 475,000 Communications
    • WHY?
    • WOM Volunteers Across the U.S.
    • 32% “Too many Ads”
    • Why am I a BzzAgent? Word of Mouth theory, Everyone is a BzzAgent in is SOCIAL CURRENCY I am just lucky enough benefit from the practice.” - BzzAgent Maria 1234 BzzAgent © 2005 Proprietary and Confidential
    • Weird Value of Negativity
    • Wake up your Quiet Advocates!
    • Who is Generating WOM?
    • Connectors Mavens Opinion Leaders Trendsetters Hubs Influentials Alphas Bees Sneezers
    • Field-Based Word-of-Mouth Experiment Who Generates Effective WOM?
    • Seth: The Trendsetter
    • Dwight: Heavy Loyal
    • Mario: Iron Chef
    • Mary: Light Loyal
    • $1.2 Million Above Trend 55% Increase in Memberships 37% Increase in Transactions Driven Primarily By Everyday People
    • What’s Next For WOM?
    • Media Options 2006 Marketing Format Platform COMMERCIAL TV AUDIO RADIO PRINT MAGS OUTDOOR BILLBOARD INTERACTIVE INTERNET New Media } ? BLOG VIRAL GAMES CGM BzzAgent © 2006 Proprietary and Confidential
    • Media of the Future: People Platforms New Media PEOPLE Media Platform } BLOG VIRAL GAMES CGM BzzAgent © 2006 Proprietary and Confidential
    • The Long Term Future Specialized Networks of Communicators BzzAgent © 2006 Proprietary and Confidential
    • Let Customers Do What They Do Best