Word-of-Mouth Marketing, 2010 Style
Published 1/6/2010
Author: Paul M. Rand
Paul M. Rand is president and CEO of Zócalo Group (www.zocalogroup.com) and president of the Word of Mouth Marketing Association (www.womma.org). He'll be contributing to Marketing News Exclusives' Expert Assessment feature.
Summary
2009 is going down in marketing history as the year marketers began truly working to understand and embrace social media. 2010 likely will be marked by companies aggressively pushing to become the most talked about and recommended brands in their categories—finding ways to not just be on social media, but to meaningfully engage and drive conversations.
According to a recent PQ Media study, spending on word-of-mouth marketing is expected to grow nearly 80% in the next three years, rising from $1.70 billion in 2009 to $3.04 billion by 2013. That’s heady growth, to be sure. But it’s not surprising, as more marketers take to heart reports that more than 90% of consumers list word-of-mouth recommendations as the leading influence on their purchase behavior.
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Saul Bekin wrote:
Posted on : 1/6/2010