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Agent Wildfire Key Belief #1– The Power of Word of Mouth “ The clear and away strongest predictor of a company’s growth rate is “would you recommend this to a colleague or friend?” Fred Reichheld, Bain Fellow and Author, The Ultimate Question – Driving Good Profits & True Growth
Broadcast TV hours and newspaper reading are down dramatically
Consumers are less engaged with the media and more connected to each other
Given trust erosion in public institutions, people are turning to “people like themselves” and close friends for advice
Digital technology/virtual networks allows us to access these people more efficiently and track their activities
Word of mouth is getting more sophisticated
xi. Why do people word of mouth about products/services?
“ I notice and talk about products and services that are”: 32% - Exciting/buzzworthy 20% 9% 13% 13% 9% - Real problem solvers/smart ideas - Exclusive and not yet discovered 3% - Things You Personally Experience/Associate With - New or just breaking - Innovative and one-of-a-kind - Fashionable & Stylish
xii. Why do people get involved in word of mouth programs?
The Who #1 - Passionate about the topic #2 - Logo Lovers #3 – Knowledge Seekers #4 - Social Brokers #5 – Altruistic #6 – Involved/Committed #7 – Feedback Seekers #8 – Ego-driven #9 – Reciprocity Dealers #10 – Self-Expressives It’s because of them
The What #11 – Social Currency #12 – Brand Experience(s) #13 – Fame #14 – VIP Treatment/Customization #15 – Scarcity #16 – Influence #17 – Intimacy #18 – Visibility #19 – Tight Boundaries #20 – Rallying Cry #21 – Rewards #22 – Expertise #23 – Bite-Sized Participation #24 – Network Effects #25 – Memes It’s because of what you provide
#26 - Innovative #27 – Remarkable/ Outrageous #28 – The Best at What You Do #29 – Authentic #30 – Liberating/ Problem Solving #31 - Edgy #32 – Trustworthy #33 – Likable #34 – Easy to Talk About #35 – Ritualistic #36 - Sensory It’s because of who you are
xiii. Who spreads word of mouth?
The Influencers – 6 Archetypes “ The Ones Who Create Ideas” “ The Ones Who Spot & Scout New Stuff” “ The Ones Who Sell and Lead Opinions” “ The Ones Who Provide Credibility” “ The Ones Who Attract Attention” “ The Ones Who Connect & Spread the Word”
The Influencers– Canada’s Word of Mouth Network
Influencers & Civic Engagement (vs. general public) Attended public meeting - 78% (+58 pts. ) Wrote/emailed/called a politician – 68% (+56 pts.) Attended a political rally, speech, protest – 45% (+38 pts.) Active members trying to influence gov. policy - 35% (+30 pts.) Worked for a political party - 25% (+18 pts.) Source: The Influentials
Word of Mouth By Numbers - Where 77% Of word of mouth is face to face. 17% 6% 76% 40-27 Of word of mouth by phone.
Of word of mouth online.
Of orchestrated word of mouth is spontaneous
Percentage of word of mouth that happens at home and work Source: North Eastern University
xvii. What roles can Influencers play for your business?
The Influencers – 6 Archetypes The Influencers– A Volunteer, Multi-Talented VIP Army Thinktank/ Sounding Board Scout/ Mystery Shopper Advisory Council/ Cause Torchbearer Seeded Adopter/ Beta Tester Customer User Consumer Collaborator/ Producer Evangelist/ Ambassador/ Advocate Community Member/ VIP Insider Influencer
xviii. What peer-to-peer benefits does word of mouth tap into?
4 Key Peer Benefits They Produce Content for You They Engage/ Rally Behind You They Collaborate With You They Advocate You
xix. How does it operate differently than mass marketing?
Puts Mass Marketing on its Head - A Distinct Marketing Approach Different Brand Stories Different Approach To Market Different Audience Different Tactics Different Commun- -ication Different Outputs/ Measures
xx. Is there a magic buzz, word of mouth marketing and/or community formula?
Viral/Buzz Success Drivers 8. Clever Visual Idea i.e. Honda Cog 9. Schadenfeude (embarassing) i.e. Dell Hell 10. Interactive/Customized i.e. Subservient Chicken 11. Unusual Talent i.e. OK Go 12. User-generated i.e. iPod Touch Ad 13. Spoof i.e. Slob Evolution 14. Free i.e. Radiohead
Word of Mouth Campaign Success Formula W ord O f M outh C ategory & B rand Attributes WOM S tory & I dea WOM E xperience & E ngage-ment WOM T ools To Spread & Dialogue I nfluential Audience -C onnected/ Informed/ Involved = X X X X CB SI EE T I CII
Brand Community Success Formula Source: Debute
Brand Community Success Formula Source: Debute