1. BSI MarketsareConversations – Whatdrives Word-of-Mouth Marketing Today? Luxembourg, 1. July 2010

2. WHY IS WOM SO CRUCIAL?

3. TRANSACTION MARKETING

4. RELATIONSHIP MARKETING

5. CONSUMERS LEARN!

6. Transaction Marketing WOM Relationship Marketing C C C B B C 1960 1990 2003 SocialProductbenefit + Emotional Productbenefit + FunctionalProductbenefit Emotional Productbenefit + FunctionalProducbenefit FunctionalProductbenefit

7. SO WHAT IS WOM?

8. NO!

9. NO!

10. NO!

11. THIS IS WOM!!!

12. WOM 1969

13. WHAT ARE THE DRIVING FORCES?

14. NETWORKS MOTIVATION

15. WHO IS THIS?

16. Connector? Maven? Opinion Leader? Trendsetter? Hub? Influential? Alpha? Bee? Sneezer? Heavy Loyal? Lead-User?

17. NO WAY!

18. LIGHT LOYAL:LUCY! Quelle: Brand Science Institute 2008: Exploring The Effects of Weak-Ties on Brand Community Performance

19. TIE STRENGTH TIE DENSITY „sparse“ network „dense“ network

20. WHAT MOTIVATES LUCY TO TALK ABOUT BRANDS/PRODUCTS/SERVICES?

21. Interaction Target Groups Marketing Management WOM Motives Purposive Waste of money Altruism Best of luck Self-Discovery Low product/brand involvement Enjoy Talking (self-assurance) Difficult to control and stimulate SocialEnhancement(emotional/cognitiveincongruence) Potentially powerful Entertainment (information incongruence) Hard to conceptualize

22. = TREND SPREADER

23. KEY APPROACHES

24. 1.

25. INTERRUPTING SCHEMAS

26. WHAT COMPELS US TO TALK ABOUT AN EXPERIENCE? DISRUPTED EQUILIBRIUM

27. WHAT COMPELS US TO TALK ABOUT AN EXPERIENCE? DISRUPTED EQUILIBRIUM

28. 2.

29. CONCEPTUAL BLEND TWO FAMILIAR = UNFAMILIAR = DISRUPTIVE

30. LET LUCY LOOK BETTER – DISRUPTION/BLENDS ARE KEY TO SOCIAL ENHANCEMENT

31. TRY TO MEASURE WOM

32. SELF-REPORT 1-DAY PROXIMITY 15% of all conversations involve brands and products 40% of all conversations are about media Source: MIT Media Lab

33. INNER OUTER Quelle: Northeastern University

34. 18x 2.7x ?? G0 G1 G2 G3+ Quelle: Northeastern University

35. WOM CHALLENGES

36. WHO IS RESPONSIBLE FOR WOM?

37. FEAR OF THE UNKNOWN

38. KEY LEARNINGS

39. UNDERSTAND THE MARKETING-PARADIGM CHANGE FIND THE RIGHT PERSON(S) TO MANAGE WOM IN-HOUSE GET TOP-LEVEL SUPPORT FOR WOM INITIATIVES OBSERVE AND LISTEN TO YOUR CONSUMERS AND THEIR NETWORKS FIRST UNDERSTAND WHAT SCHEMAS ARE AT PLAY DISRUPT SCHEMAS MILDLY/OR FIND BLENDS THAT MAKE SENSE TEST AND VERIFY DISRUPTED SCHEMAS/BLENDS UNTIL YOU REACHED THE TIPPING POINT CONNECT WITH TREND SPREADERS TO ROLL-OUT YOUR DISRUPTED/CONCEPTS AND BLENDS MEASURE THE SUCCESS OF YOUR WOM INITIATIVE