What word of mouth marketing

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  • http://www.flickr.com/photos/tuvamoenholm/
  • What word of mouth marketing

    1. 1. Word Of Mouth Marketing (WOMM) Presented By: Pooja Vora (54) Sanket Vyas (55) Tinaaz Wadia (56)
    2. 2. Flow Of Content              What word of mouth? What is WOMM? What is it not? WOMM communication pattern Traditional marketing VS WOMM Where WOMM fits? Organic VS Amplified WOMM WOMM umbrella term Key ingredients of WOMM How does WOMM works? 5 T’s of WOMM Positive and Negative WOMM Case study
    3. 3. What Is Word Of Mouth? “Positive or negative communication of products, services and ideas via personal communication of people who have no commercial vested interest in making that recommendation” - Silverman In Simpler terms:  Word of mouth is what everybody is taking about.  Word of Mouth is the act of consumers providing honest information to other consumers
    4. 4. What Is Word Of Mouth Marketing? Giving people a reason to talk about your stuff, and making it easier for that conversation to take place. -Andy Sernovitz Art and science of building active, mutually beneficial customer-to-customer and customer-to-marketer communication. “ The trick of getting your customers to talk about you. One of the most inexpensive and effective ways of marketing. C2C communication happening online/offline by phone conversations, gossips, blogs, social media tools, emails, etc. ”
    5. 5. So.. What Is Not?  Stealth Marketing  Shilling  Infiltration  Comment Spam  Falsification
    6. 6. Word Of Mouth Communication Pattern
    7. 7. Traditional Marketing VS WOMM Word Of Mouth Marketing Traditional Marketing
    8. 8. U.S WOMM Statistics Few more facts.. •Two thirds of the U.S Economy driven by WOM •Law of FEW: 10% influence purchasing behavior of other 90% •85% prefer buying on WOM recommendation
    9. 9. Where Does WOMM Fit? When a product, service or concept is (or perceived as): ―Expensive or a significant investment ―Complicated or complex ―New or innovative ―Mature with new ideas Or when a product, service or concept requires repositioning
    10. 10. Organic VS Amplified WOMM “Word of mouth is not created, it is co-created. People will only spread your virus if there is something in it for them.” -Hugh MacLeod Organic WOM occurs naturally as a result of the product/service on its own Amplified WOM is generated by marketers from a special marketing effort. Practices that enhance Organic WOM: Practices amplifying WOM activity: Focusing on customer satisfaction. Improving product/service quality. Responding well to concerns and criticisms. Earning customer loyalty. Developing tools that enable people to share their opinions. Identifying & reaching out to influential individuals/communities Researching & tracking online conversations Motivating the talkers to promote
    11. 11. The WOMM Umbrella Term 8 main types of WOMM:  Buzz marketing  Cause Marketing  Conversation Marketing  Community Marketing  Evangelist Marketing  Grassroot Marketing  Influencer Marketing  Viral Marketing
    12. 12. Key Ingredients in WOMM CREDIBILITY SKEPTICISM TRUST! Effective WOMM
    13. 13. How Does WOMM Work? WOMM is based on the principle that uses influencers to spread a message- online and offline. Activating online word-of-mouth is not free any more than activating word-of-mouth in the offline media. Key to WOMM is how many important influencers the company reaches not how many people/customers.
    14. 14. 5 T’s Of WOMM WOMM campaign is built on top of the FIVE T’s because marketing guys like to make things formal!
    15. 15. 5 T’s of WOMM • Talkers: Who will tell their friends about you? • Topics: What will they talk about? • Tools: How can you help the message travel? • Taking Part: When and how should you join the conversation? • Tracking: What are people saying about you? Topics Be remarkable or be invisible. Tools Make is easy to talk.
    16. 16. Positive & Negative WOM Positive word of mouth: 1 happy customer might tell max 5 others Negative word of mouth: 1 unsatisfied customer may tell 10 others
    17. 17. Impact Of WOMM
    18. 18. Case Study: Obama Campaign • Repeatable messages • Multiple occasions • 332 electoral votes

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