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1、1APRIL2010marketing&salespracticeAnewwaytomeasureword-of-mouthmarketingAssessingitsimpactaswellasitsvolumewillhelpcompaniestakebetteradvantageofbuzz.JacquesBughin,JonathanDoogan,andOleJørgenVetvik2Consumershavealwaysvaluedopinionsexpresseddirectlytothem.Marketersmayspen
2、dmillionsofdollarsonelaboratelyconceivedadvertisingcampaigns,yetoftenwhatreallymakesupaconsumer’smindisnotonlysimplebutalsofree:aword-of-mouthrecommendationfromatrustedsource.Asconsumersoverwhelmedbyproductchoicestuneouttheever-growingbarrageoftraditionalmarketing,wordo
3、fmouthcutsthroughthenoisequicklyandeffectively.Indeed,wordofmouth1istheprimaryfactorbehind20to50percentofallpurchasingdecisions.Itsinfluenceisgreatestwhenconsumersarebuyingaproductforthefirsttimeorwhenproductsarerelativelyexpensive,factorsthattendtomakepeopleconductmore
4、research,seekmoreopinions,anddeliberatelongerthantheyotherwisewould.Anditsinfluencewillprobablygrow:thedigitalrevolutionhasamplifiedandaccelerateditsreachtothepointwherewordofmouthisnolongeranactofintimate,one-on-onecommunication.Today,italsooperatesonaone-to-manybasis:
5、productreviewsarepostedonlineandopinionsdisseminatedthroughsocialnetworks.SomecustomersevencreateWebsitesorblogstopraiseorpunishbrands.Asonlinecommunitiesincreaseinsize,number,andcharacter,marketershavecometorecognizewordofmouth’sgrowingimportance.Butmeasuringandmanagin
6、gitisfarfromeasy.Webelievethatwordofmouthcanbedissectedtounderstandexactlywhatmakesiteffectiveandthatitsimpactcanbemeasuredusingwhatwecall“word-of-mouthequity”—anindexofabrand’spowertogeneratemessagesthatinfluencetheconsumer’sdecisiontopurchase.Understandinghowandwhymes
7、sagesworkallowsmarketerstocraftacoordinated,consistentresponsethatreachestherightpeoplewiththerightcontentintherightsetting.Thatgeneratesanexponentiallygreaterimpactontheproductsconsumersrecommend,buy,andbecomeloyalto.Aconsumer-drivenworldThesheervolumeofinformationavai
8、labletodayhasdramaticallyalteredthebalanceofpowerbetweencompaniesandconsumers.Asconsumershavebecomeoverloaded,
