Analytic Partners President, Nancy Smith, will discuss key findings from WOMMA's groundbreaking study, "Return on Word of Mouth"
On February 24, 2015 at Social Media Week in New York, NY, Nancy Smith of Analytic Partners will present "Return on Word of Mouth," a WOMMAstudy conducted by Analytic Partners, The Keller Fay Group, andConverseon, in conjunction with brand sponsors Discovery Communications, PepsiCo, and Weight Watchers.
Key findings of the study regarding the impact of word of mouth marketing on sales and business performance will be discussed and debated in an open forum. Some findings to be explored include:
- WOM drives 13% of sales (versus the 20-30% of sales driven by all marketing)
- Two-thirds of WOM’s impact is from offline WOM, one-third from online
- WOM amplifies the effect of paid media by 15%
- WOM’s impact is more immediate (most of it is in the first two weeks)
- An (offline) WOM impression drives 5-200 times more sales than a paid impression
Some action areas to be explored include:
- To what degree are you driving WOM directly (advocacy and influencer programs) and indirectly (designing marketing to drive WOM)?
- How are you planning to measure WOM’s relative impact going forward?
- What opportunity areas are ripe for further study (e.g. the value of an online impression; the impact of advocacy and influencer marketing, etc.)?
For more information, including how to register, please visit Social Media Week.
To learn more about the session including the speakers, please visit Return on Word of Mouth.