The WORD on Word-of-Mouth
I am so excited to have two WOM specialists speaking at the AMA Symposium next month. We all already know that word-of-mouth is the #1 marketing tool we have. Shoot, it probably drives about 99.9% of my business. But most of us spend an inverse proportion of our marketing budget to harness and stimulate WOM. Nielsen just released a study that shows that “consumers around the world still place their highest levels of trust in other consumers;” “recommendations from consumers” are the #1 form of advertising that customers trust. 78% of the study’s respondents said they trust WOM compared to 56% who say they trust TV ads, 38% who trust move theatre ads, and 26% who trust online banner ads. Some of the comparisons by country are really interesting and might influence how you recruit international students. Recommendations from current customers make the biggest difference in Asia. “Relying on someone else’s recommendation” makes less difference in Denmark, Italy, and Lithuania. Consumer generated media (such as blogs) were considered a reliable source of information for the largest percentage of respondents in North America; though the magnitude of the different from the average was small. Still, it’s fair to say that WOM is the best thing we got going. I can’t wait to hear from Lois Kelly and Andy Sernovitz at the AMA so they can teach us more about it.