Although companies spend millions of dollars on advertising and marketing campaigns, Word of Mouth Marketing (WOMM) is actually the most successful form of marketing. This unpaid form of promotion initiates conversation both consumer to consumer, and consumer to brand.
WOMM actually enables trust within costumers because consumers have a desire to share positive stories about the companies, services, and products they are loyal to. However, this trust may take years to develop. This type of marketing is very credible because when customers speak well about a product, they put their reputation on the line. On the other hand, it can also be very harmful for a company that does not have a good reputation among its current and past customers.
According to the Word of Mouth Marketing Association, the most effective WOMM follows five principles: it is credible, social, respectful, measurable, and repeatable. When a brand repeats things, the brand then becomes “talkable” among its consumers.
Although word of mouth has existed since the beginning of time, marketers are just learning how to effectively create a positive image for their company by using this tactic. This strategy is mainly based on the concept of customer satisfaction. In order for this strategy to be successful, a company must educate its customers about the products and services they offer by providing tools, such as Twitter or blogs, where customers can share their information and experiences.
Cirque Du Soleil, one of the biggest entertainment organizations in the world, enacted a WOMM campaign for the launch of The Beatles LOVE show. During this campaign, the company engaged in thousands of conversations with individuals via instant messenger programs, message boards, and chat rooms. In these conversations, the company first asked consumers if they had heard about Cirque Du Soleil’s The Beatles LOVE show before they revealed any information about the show, including the release date, the music involved, and advanced preview performances. This campaign not only increased awareness, but also revealed that 42% of the engagements indicated intent to buy tickets for the show.
Now that some companies have successfully carried out WOMM campaigns, it is essential that all companies learn how to use this strategy to their favor.