Why should Marketers care about WOMM?
The Marketing form that consumers trust above all others and the one that is most likely to drive sales for your company — would you instead choose to ignore it or leave it to chance?
92% of consumers believe recommendations from friends and family over all forms of advertising. 64% of marketing executives indicated that they believe word of mouth is the most effective form of marketing. However, only 6% say they have mastered it.
If consumers value word of mouth and marketers believe it is effective, then why aren’t marketers more focused on it?
The problem is that for the last few years, marketers have been focused on “collecting” instead of “connecting.” In other words, brands are too caught up in collecting social media fans and they are forgetting to actually connect with them. Having 100 really passionate fans that love your brand or product is exponentially more effective than having 10,000 “fans” who signed up just to win a free iPad from you.
Just like in life—if you have to buy your friends, are they really your friends?
Marketers used to focus on the 4 P’s. You probably had them drilled into your head as you pursued your marketing degree.
The 3-E Rule
Engage: Engage with them. The Nike support is a prime example of customer service done well. They constantly respond to followers on Twitter, whether it’s about their apparel, Fuel Band or other products.
Equip: Give them reasons to talk. It can be amazing products, great service, insider knowledge, social elevation, incredible stories… It’s on you. Apple revolutionizes technological devices and delivers amazing products to its consumers, allowing them to naturally raze about the newest iPhone.
Empower: Give consumers different ways to talk and share. Lay’s is an excellent example to highlight how they empowered their fans to “Do Us a Flavor,” and allow consumers to create a new flavor of potato chips to hit store shelves. Over 3.8 million submissions were sent in 2013 making it one of the biggest marketing campaigns for PepsiCo owned Frito-Lay.