A great article on MediaPost's Research brief blog outlines the ways the Hispanic population is using digital media and technology in their lives.
Click on over to see the whole post and the data, here is a juicy tidbit to wet your appetite:
Word of Mouth in the digital age is no longer neighbors talking over the fence, and Hispanics appear to be embracing digital means. While face-to-face remains the #1 way for them to give or seek advice about products and services, things like email, text and mobile are making their way on the list.
A recent article in the Atlantic outlines the power Mom's have in the blogoshpere.
You should read the whole post here, but here is a choice bit of information:
"Women are the major users of Facebook, Twitter, blogs, Pinterest, and every social media site except YouTube. They are engagers. They are sharers. It is natural to a women's personality to say why she buys something and why she like it. Women love to share news about the bargains that they got. They love deals and they love to talk about it."
Search Engine land published the third installment of their Local Consumer Review study. Its a great read and offers some interesting insights into WOMM. We highly recommend any marketer reads this study.
Here are some of the highlights:
- 77% of respondents said they had shared a recommendation through word-of-mouth in the past year
- men use a greater number of channels for their local business recommendations than women (1.53 vs. 1.33)
- Women are more likely than men to have shared a recommendation by word-of-mouth (78% vs. 74%)
- Men are more likely to have shared via Facebook (34% vs. 32%) and Twitter (12% vs. 7%)
- When citing reasons for recommending businesses, women are more likely than men to hone in on reliability and professionalism (68% vs. 62%), friendliness (50% vs. 39%), the existence of a special offer (46% vs. 27%), and a unique and original experience (44% vs. 25%)
- Consumers seem to be increasingly influenced by offers. This year, 2 in 3 said they would be more likely to recommend a local business to people they know if the business has a good value offer or discount.
- Also check out the chart below to see how the genders responded to incentives for receommendations.
As always, Giga Om is on the money with a nice comparison of the two hottest social platforms. The highlights:
- Pinterest users spend WAY more but dont hang around much after they buy.
- Facebook users spend much more time on the site
The infographics do all the work:
The whitepaper a great read and worth the time (if you have it). If you don't, the image can serve as your cliff's notes. Happy Reading!:
This is a great illustration of the value and influence of social commerce. The infographic says it all:
It usually goes without saying that if you build a great product, you'll get your share of word-of-mouth recommendations. Seems pretty obvious, right?
The irony is tht there are a LOT of small and large brands out there who only give this lip servcie and don't live the mantra. If you truly want your product to be your marketing, you need to commit to a grea product and a great product experience.
Recent work by Temkin Group reveals some data to support this:
The most telling quote:
Satisfied customers are not only more likely to recommend customers, but also more likely to purchase again from them in the future.
You should also check out their self assesment form to see how you are doing. Its a worthwhile excercise to get your team thinking about delivering great customer experiences so you can enjoy the power of word-of-mouth.
- Identify your strongest customers by asking them how likely they are to recommend your products. You can use the Net Promoter Score (NPS) from Bain to determine the rating or use your own home grown system
- Once you have ID'd these customers, ask them to write a review about their experience with your products
- Once they have written a review, ask them to share it (Facebook is the most popular way folks share these reviews).
Its a very instructive read and the article highlights one of the primary players in the Brand Advocacy space for brands, Zuberance. They have a great solution to create 'advocate armies', put them to work for you, and track the efficacy of your brand's activities.
One of the highlights that stands out is the number of recommendations that occur offline. According to this graphic, its 9 out of 10! That says that folks arent recommending enough online!
Wow, that this number is low (in our very biased opinion)!
As followers of this blog know, we are working on some very cool tools to allow you to make these recommendations simply and easily online so you can track them and even earn a commissions for yourself or your favorite charity. With our new beta (sign up here) we also have a few more tricks up our sleeve to give our users better access to information that really helps them make purchase decisions.
For brands this will eventually mean that tracking WOMM will be easier and more intuitve as well. If you are a brand interested in learning more about Word-of-Mouth Marketing (WOMM), check out the WOMMA summit here.
Ok, so this is a week or so old, but after digging into this post from eMarketer called Experienced Social Media Marketers Add More Goals, Metrics, we found a couple nuggets we thought you should see. The gist of the article is that the more experience a marketer has, the more likely they are to track social channels.
From the below chart, we see that those using social marketing for more than a year are using it to track purchase transactions. Younger marketers are less likely to be concerned with tracking purchases.
A few things come to mind:
- Once they are using social channels, the more experienced marketers realize the power inherent in social media to get to the purchase, and thus seek for ways to quantify the effects of the social word-of-mouth channel. (30% of the surveyed experienced marketers are tracking purchases. None of the less experienced participants are tracking purchases.)
- It might be inferred that inexperienced marketers would seek to track transactions, yet don't yet know of simplified and turn-key ways to track social word-of-mouth. HINT: This is where RevenueNation steps in!
- Judging from the trend lines here, it might be assumed that the more experience a marketer has with social, the more likely they are to move even more dollars into the social channel once they are aware of it's efficacy.
What does it mean for word-of mouth advocates and marketers? It means that with each passing year, more smaller brands are going to become more experienced with social and begin to pour dollars into the channel due to both its effects on brand awareness and influence on purchasing decisions. Logically, this means more products that have been hiding beneath all the big spend marketing budgets are going to find creative ways to user social marketing to rise above all the noise and generate leads and purchases.
What do you think...are we going to see a big uptick in the number of smaller, less experienced firms that leverage social? Comment away below...
We are thrilled to announce that we are now taking applications for our Beta. Our tech team has been hard at work pulling together loose ends and prepping the service for the Beta.
We are looking for some folks who will test out the service and tell us what they think of our offering.
We only ask that you provide us with bug reports, feature requests, and fill out a survey at the end of the 30 day beta.
The RevenueNation Beta application form is located here.
Once you have applied, we will get back with you shortly with an invite and other pertinent details.
We look forward to your particiaption and feedback!
A quick snippet from emarketer's recent article: Social Marketing’s Benefits Rival Email for Small Businesses
The quote we like the most is this one:
Social media has quickly moved up the ranks of top marketing tactics among small and medium-sized business (SMBs). April 2011 research from Pitney Bowes indicates that by some measures of desirability, it’s in close competition with email.
What do we think this means in the broader perspective?
- SMB Marketers realize the power of connecting with customers directly via social channels
- SMB Marketers like the control of the channel and freedom it represents to realize their creativity
- SMB Marketers are more likely to experiment with the channel to light small marketing fires to see what takes off
- SMB marketers will look for simple uses of social channels to create buzz and awareness via online word-of-mouth marketing
What does this mean for RevenueNation Advocates?
- There should be more interest from SMBs for services like RevenueNation
- There will likely be more cool new products promoted via social channels, and thus higher earning potential for Brand Advocates!
As always, feel free to chime in on the comments below!
Can't start this one without once again tipping the hat to eMarketer. They have their fingers on the pulse of WOMM and cover the trends brilliantly.
In an article posted today on why Moms recommend products they drill into the incentives that drive Mom'suse of word-of-mouth marketing. A very enlightening quote:
..moms love to trade information and engage in online conversations about themselves and their families. But moms say they would be significantly more inclined to refer a brand or product to friends when offered an incentive. Marketers can boost engagement and motivate moms to spread word-of-mouth about products by providing coupons, discounts, deals and other tangible financial rewards.
Also, some other highlights:
- if offered an incentive, nearly 66% of moms said they would be more likely to refer a brand or website to others.
- The mom segment is made up of vocal, tech-savvy, price-conscious consumers who are an important purchase influencer for families and more apt to use incentives than the average consumer.
- Moms are highly engaged in brand conversations and are keen on finding bargains and additional ways to save. Incentives, including coupons, local deals, discounts and product samples, serve as a powerful marketing tool to drive moms to discuss and pass information about products on to their network of friends.
- With wide social circles and a high tendency to communicate and share ideas via word-of-mouth marketing, moms are extremely receptive to brand referrals and product recommendations from their peers.
Moms, like any other savvy internet citizen, will reward the brands that reward them. Just as with offline social networking, the network effect of having an influencer make a word-of-mouth recommendation to their networks of friends can have an exponential impact on who sees and buys a product.
Pretty soon we will have some tailor-made updates to the service that focus on this powerful group of Mommy WOMMers, and we look forward to making them successful!
Another good one from emarketer. They outline some recent research about what channels consumers use to share information online. The main highlights are below:
- For the April 2011 “Content is the Fuel of the Social Web” report, AOLand Nielsen Online analyzed more than 10,000 social media messages to see how consumers share content online. The study found that 93% of internet users turn to email to share content, while 89% use social networks and 82% use blogs.
- Social networks are the top method for sharing content with friends, as 92% of users do so, while email is the most popular way to share with family (86%) and colleagues (26%). In sharing online content with the general public, consumers prefer to use message boards (51%) or blogs (41%).
- Paul Adams, global brand experience manager at Facebook, said that the average person has four different friend or influence groups. Each has an average of 10 people and they are based around life stages, experiences or hobbies.
- the study found that 60% of shares were links to published content, such as a news or media site. Meanwhile, 36% of shares consisted of embedded content, such as branded experiences on a social network, enabling users to share content without leaving the platform or social network.
So what does it all mean for those of you who use word-of-mouth to give and receive recommendations?
- People choose the word-of-mouth channel that is most contextually relevant to the folks they are sharing with. Mom and Dad probably get and send emails. Younger, more tech savvy folks are more likely using Twitter or Facebook because thats where their friends are.
- The high level take-away for RevenueNation Advocates is that you should be capable of communicating in many channels, and you should choose which based on the comfort level of the recipient.
- You need to be thinking: Where is your recipient most likely to see and take action on your recommendation? What medium do they prefer to receive content?
- While you consider the relevance of the actual recommendation, you also need to think about which channels are appropriate to who and what you are passing on via word-of-mouth marketing.
When you are talking about folks who influence purchase decisions via word-of-mouth marketing, no conversation is complete without talking about female influencers. These ladies have the power, energy and influence to get people excited about what they recommend and they do it because they genuinely enjoy helping out and being known as an expert.
Some quick highlights for your skimming pleasure:
- The smallest groups overall were the most active online and contributed the most to online word-of-mouth.
- Social expressionistas, which make up just 8% of the online female population, were overwhelmingly the most likely to say that they use the internet as a way to express their views and that they interact online with people like themselves. (According to AOL, the social expressionista “defines herself as using the web to connect with others and to express her views, her art, and her projects.”)
- Other groups, like shopsessives (7%), businesswireds (15%) and alpha trendsetters (13%) liked spreading the word about brands more, but the research suggested they were somewhat less likely to do so on the web.
- Social expressionistas' love of spreading the word online translates to a love of social networking sites. Nearly nine in 10 social expressionistas said social networks were their favorite type of site, 13 percentage points above the next group, alpha trendsetters. Social networks are vital to them as the location where they interact with like-minded people and express their views.
- According to the report, the best way for marketers to encourage buzz among social expressionistas is to make them part of a dialogue and give them the opportunity to play with brand assets and use them to create their own content
So what does this mean for marketers and influencers? Pretty simple, actually:
To harness the power of the female influence voice, you need to get them access to your product, give them them means to promote easily and quickly, and to get them over the hump, you should consider giving them some additional incentives for talking product...things like discounts or commissions on sales are always effective.
Marketers, feel free to reach out to us if you want to set up a campaign.
Ladies, you are always welcome as a RevenueNation Brand Advocate. Click here to sign up for the beta...
We love smartphone-toting Moms here at RevenueNation. They are very influential and are very well respected by their peers when it comes to recommendations of products...
The folks at eMarketer have some data about connected Moms from Baby Center that we think the RevenueNation would be interested in seeing:
- Nearly six in 10 moms have a smartphone, vs. 50% of all internet users. Overall, 62% of mom respondents told BabyCenter they use the mobile internet regularly, up from 22% just two years ago.
- Mothers were significantly more likely to access games, social media and health information, and somewhat more likely to check the weather, listen to music or shop via mobile.
- Moms were below average on accessing content like maps, productivity tools, and financial and business information, suggesting they’re sticking to activities to help—or help occupy—their families.
- Activities like these lead smartphone-owning moms to spend an average of 6.1 hours a day with their phone, compared to 2.5 hours among moms with only a feature phone.
- smartphone-owning moms considered ads with coupons (55%) or that featured nearby deals (34%) most appealing
Here is a synopsis of what Moms are up to on their phones:
Another good one from the folks at eMarketer. They pulled together some data from a research shop regarding the expectations brand marketers have regarding their social followers:
According to a July 2010 survey of social media marketers by Millward Brown and Dynamic Logic, the most valuable aspects of social media brand fans go beyond anything with an immediate monetary value. Increased short-term and long-term spend on the brand were the bottom two results.
At the top of the list were the fan’s value as a source of insight and increased loyalty overall. Advocacy and engagement were also important to at least three-quarters of respondents.
Whats most intriguing is the third line of the following graphic. "An increased chance of advocacy/recommendation". To us at RevenueNation, this is the sweetspot. We think that every brand -- large or small -- will eventually create strategies and tactics to build and monitor their own online Word of Mouth marketing just like they do for search and display.
Obviously, we don't feel that just having a facebook or twitter page is a strategy in and of itself. We think brands should engage in consciously designed and architected word of mouth campaigns leveraging dedicated tools set up expressly for this purpose (ahem: RevenueNation).
As we roll our product out of our test phase, we look forward to engaging directly with brands and advertisers looking to their online Word-of Mouth programs just like they run SEM or display campaigns: simply, accurately and with tools to monitor their efficacy.
If you are an advertiser interested in participating in our beta, click here. We look forward to hearing from you!