Recently, Yahoo did a study regarding word-of-mouth marketing and the internet. They discovered that consumers who engage in social media are extremely influential in word-of-mouth. While this is new to those that work and live in the social media space, it is interesting to see the numbers from their study.
MediaPost News writes,
“While many marketers have little doubt that the Internet can influence WOM marketing nearly as much as TV, the huge gap in budgets for online versus television tells a different tale, says Radha Subramanyam, Yahoo vice president, who heads corporate and media research. “There’s a bit of an intellectual gap in how marketers spend their budget that doesn’t exactly tie to ROI,” she says.
Although only 7% of all brand-WOM conversations occur online, 38% of people have brand-WOM conversations both online or offline influenced by the Internet, which Yahoo estimates at 74 million people.
Among the media channels influencing WOM, the Internet has grown while others like television and print remain flat. The level of Internet references rose to 15% in January 2010, compared with nearly 12% during the same time in the year-ago period.
About 15% of all conversations include something from people who found the information online, Fay says. People sit side-by-side with a mobile device in hand, talking about restaurants, clothing stores or services they read about online, he says.”
You can read the rest of the article HERE.
Do you see in your industry a move away from television and print? Have they incorporated social media into their marketing strategy? What have been their results?
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