A Must need strategy for any business - WOM Marketing
By: Vignesh Shanmugam
- Oct 25, 2019
Word of Mouth Marketing (WOMM) is simply a customer statement about your product/service, which as more influence in your sales and business when compared to any other marketing strategies.
Why MOMM is important?
Before answering this, let’s try to read the recent stats,
- More than 90% believe in brand recommendations from their friends.
- People have 5X higher change to buy a product when someone refers.
- More than 80% of the online customers read reviews before they purchase.
- Customer description is valued over brand description.
- Twitter, YouTube, Facebook, reviews are creating more impact than many other advertising medium.
- It’s cost effective and reaches your targeted customer very quickly.
What Strategy must be Incorporated ?
- Sharing post, videos with unique #Hash-tag.
- Conducting polls, events and games as engagement activity.
- Announcing offers, new arrivals, news and updates etc.
Engaging your customer with your new arrivals, updates, news and events is more important because they will create a huge response from your customers.
Validating your strategy through Analytics:
With the advancement of Analytics and Technology, it’s possible to validate every activity in business.
Through sentiment analysis one can easily get know the people emotions with your product or service.
- Twitter Sentimental Analysis can be done for any brand or product or service which captures the customer satisfaction based on unique # hash-tag
- Topic modelling can be done for the comments posted on your brand which helps to understand the customer expectation.
- Competitor Analysis can also be done, which enable you to understand the competitor strength and weakness.
Finally, we will be presenting the clear picture of Return On Investment (ROI) on each strategy in social media.
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