Word of Mouth Cheat Sheet (Agent Wildfire)
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167 facts and stats you need to know about word of mouth, community-building, social media and marketing in a conversation marketplace, culture and society
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Word of Mouth Cheat Sheet (Agent Wildfire)
- 1. AGENT WILDFIRE’S WORD OF MOUTH CHEAT SHEET: July, 2007
- 3. WORD OF MOUTH WORD OF MOUTH Also known as: In Canada In the U.S.
- 4. i. WORDS ARE IMPORTANT
- 5. Word of Mouth By Numbers - Importance 67% - Percentage of consumer purchase decisions primarily influenced by word of mouth, #1 factor Source: Mckinsey/Thompson Lightstone 93% - Percentage of customers who identify word of mouth as the best, most reliable source about ideas and information on products and services - up 26 pts. vs. 25 years ago Source: NOP World - Percentage of Inc. 500 marketers planning a word of mouth program next year – #1 growing marketing vehicle Source: eMarketer 70% 66% - Companies who state “social media” is very important/somewhat important to company strategy Source: University of Massachussetts-Dartmouth 50% - Percentage of U.S. and U.K. executives highly likely to buy a product or service based on word of mouth Source: Keller Fay 46% - Percentage of senior marketers who believe generating “buzz and press” is the most important part of building a brand Source: Business Week
- 6. ii. IS THERE ANYBODY LISTENING, IS THERE ANYBODY WATCHING? …
- 8. iii. IT’S OK, BLAME THE MARKETER…
- 10. iv. WORD OF MOUTH -GEARED TO SPREAD…
- 12. v. WORD OF MOUTH: MARKETING ON STEROIDS …
- 13. Word of Mouth By Numbers - Powerful - Amount of reduction of negative word of mouth to generate 1% of business growth Source: London School of Economics 7% - Amount of lift in word of mouth to generate 1% in business growth – top correlated growth factor Source: London School of Economics 4x - Difference in growth rate of high net promoter score brands vs. low net promoter score brands Source: London School of Economics 7to1 - Percent of people who claim word of mouth is one of the most reliable info sources - ranked #1 & up 50% vs. 1977 Source: NOP World 93% - Ratio of positive word of mouth about products compared to negative word of mouth in the marketplace Source: Keller Fay 70% Percentage of word of mouth conversations having an impact on brand purchase (37% buy it/try it, 24% consider it, 9% avoid purchase based on WOM) Source: Keller Fay 2%
- 14. vi. HOCKEY, MAPLE SYRUP, WORD OF MOUTH…
- 15. Word of Mouth By Numbers - Canadian 1 st ,2 nd, 4 th - Percentage of Canadians Who Trust Mass Advertised Brands (vs. 44% for Americans to the same question) Source: Environics 67% 56% 17% #1 Canada’s rank globally on broadband connection, visiting blogs & per-capita Facebook members Source: comScore/Facebook - Friends, spouses and parents rank in most passionately embraced subjects by Canadians Source: Arnold Mood and Mindset - of Canadians who have stopped doing business with a company that doesn't respect them Source: Arnold Mood & Mindset - Percentage of Canadians are willing to provide emails to websites that ask (up from 61% in 2005) Source: ipsos-NA 65% - of Canadian consumers feel bombarded by ads Source: Yankelovich
- 16. vii. TRIED, TESTED & TRUE
- 18. viii. SOME PEOPLE ARE NOT LIKE THE OTHERS
- 20. Word of Mouth By Numbers – Influencers Feel a Connection To - Religious/spiritual group Source: NOP World - Neighborhood/town Source: NOP World 53% 72% 85% 96% 58% 57% - Youth related group Source: NOP World - Professional group Source: NOP World - Workplace Source: NOP World - Political group Source: NOP World - (tie) Alumni association or hobby/interest group Source: NOP World 43%
- 22. ix. NOT JUST THE WATERCOOLER…
- 24. x. IT STARTS WITH A GREAT EXPERIENCE
- 26. xi. AND THEY TOLD XX PEOPLE AND SO ON…
- 29. xii. MAKE NEW FRIENDS AND KEEP THE OLD…
- 30. Word of Mouth By Numbers – The Transmitters 11% - Tastemakers – the ones who create Source: Agent Wildfire 7% 8% - Trendspotters – the ones who notice Source: Agent Wildfire 19% - Opinion Leaders – the ones who sell & convert Source: Agent Wildfire 36% - Experts/Mavens –the ones who know Source: Agent Wildfire - Celebrities – the ones who attract Source: Agent Wildfire 18% - Social Ringleaders – the ones who spread Source: Agent Wildfire
- 31. Word of Mouth By Numbers – The Recipients 35% - Friends Source: Agent Wildfire 24% 4% - Family Source: Agent Wildfire 20% - Work Colleagues Source: Agent Wildfire 9% - Neighbours Source: Agent Wildfire - Online community members Source: Agent Wildfire 4% - Hobby/interest/team members Source: Agent Wildfire
- 32. xiii. WORD OF MOUTH: THE LANGUAGEOF SOCIAL GROOMING
- 33. Word of Mouth By Numbers – What Do We Talk About Generally 25% - Life/Living(i.e. food, events, relationships) Source: Northeastern University 13% 10% 12% 11% 6% - The Arts (i.e. movies, music, TV) Source: Northeastern University - Buying/using services Source: Northeastern University - Technology/science Source: Northeastern University - Buying products Source: Northeastern University - Health Source: Northeastern University 4% - (tie) Workplace/Professional and Hobbies Source: Northeastern University 3% - (tie) Sports/Education/Current Events Source: Northeastern University
- 34. What Do We Word of Mouth About – Brand Conversations Per Week 12 - Media/Entertainment Source: Keller Fay 10 8 8 8 7 - Food & Dining Source: Keller Fay - Beverages Source: Keller Fay - Public Affairs Source: Keller Fay - Telecommunications Source: Keller Fay - (Tie) Tech & Travel Source: Keller Fay 7 - Health & Health care Source: Keller Fay 6 - (tie) Shopping/Auto/Financial/Beauty Source: Keller Fay
- 35. xiv. WORD OF MOUTH: WHAT MOTIVATES US TO BUZZ
- 36. #1 Reason Why We Word of Mouth – Products & Services That Are: 32% - Exciting/buzzworthy Source: Agent Wildfire 20% 9% 13% 13% 9% - Real problem solvers/smart ideas Source: Agent Wildfire - Exclusive and not yet discovered Source: Agent Wildfire 3% - Things You Personally Experience/Associate With Source: Agent Wildfire - New or just breaking Source: Agent Wildfire - Innovative and one-of-a-kind Source: Agent Wildfire - Fashionable & Stylish Source: Agent Wildfire
- 39. xvi. MARKETING IS NOW A TRIBAL GAME…
- 41. xvii. GATHER ‘ROUND THE FIRE, WE’RE HAVING A SOCIAL…
- 44. xix. PEOPLE WANT IN…
- 46. xx. GIVE UP SOME POWER TO GET SOME POWER…
- 49. Brand Communities Word of Mouth Campaigns Word of Mouth Media Word of Mouth Insights Word of Mouth Consulting
- 50. Let’s Put your Word of Mouth on an Accelerator Pedal! Inquire: smoffitt (at) agentwildfire.com Phone: 647-436-6802 URL: www.AgentWildfire.com Join/Share: www.TheInfluencers.ca Blog: http://BuzzCanuck.typepad.com/ Learn: The Buzz Report (monthly e-newsletter)
- 51. Agent Wildfire Inc. 2006 Agent Wildfire President & Chief Evangelist - Sean Moffitt Led and managed some of Canada’s most loved brands VP Marketing/Strategy - Molson & Diageo-Guinness Various Brand/Innovation management roles - P&G VP Business Development/Client Service - Echo Successfully practiced word of mouth as a client, agency executive and now as a specialist expert Founded Agent Wildfire in 2004 , operates as a full service WOM marketing, media & research firm Frequent speaker at conferences, seminars and universities on new media & word of mouth Chair and organizer - Canadian Marketing Association’s word of mouth conferences and seminars Co-developed Canada’s 1st Word of Mouth MBA course at Schulich School of Business Author of Buzz Canuck blog and The Buzz Report e-newsletter Consultant with New Paradigm Group on the open source Future of Brands (Wiki Brands)
Editor's Notes
- Thank you for the chance to talk about word of mouth… Personal background: Client for many years at P&G, Molson, Guinness/Diageo, a place called Echo Having spent a wealth on traditional advertising – I’m a born-again marketer My bet is it’s a big part of marketing’s future and at the end of this presentation, you’ll grab three things: - word of mouth is really powerful and for a wide a variety of brands, I should be thinking about it as an integrated part of upcoming plans - word of mouth can be orchestrated and you can do it credibly and avoid the pitfalls, you can make it a valuable marketing touchpoint and maybe even strategy for your business - Agent Wildfire is Canada’s Expert here – they have the experience, knowledge, database, assets and team to help my business – they are not one size fits all, they have options sized for my business