Word-of-mouth Marketing (WOM)

Word-of-mouth Marketing (WOM)

Resource type: 
Idea scaling
Category: 
Tools

Word-of-mouth (WOM) is one of the oldest techniques for sharing opinions and experiences on various topics, such as product, service or company etc. With a shift from real world to virtual one, word-of-mouth mechanism got new significance. Now people can share their opinions and views in larger scale (Dellarocas, 2003). And firms in its turn can get benefits by implementation of word-of-mouth marketing to their strategy.

Word-of-mouth effect in Internet can be seen in different forms, for example, it can be online feedback on product or service on the web-page of the sellers; or it can be referrals at the social networking site (Dellarocas, 2003; Chevalier and Mayzlin, 2006; Trusov et al., 2009) WOM effect discussed in the studies on social media marketing and growth hacking considers it as powerful mechanism for acquiring customers (Holiday, 2013).

Source

Chevalier, J.A. and Mayzlin, D., 2006. The effect of word of mouth on sales: Online book reviews. Journal of marketing research43(3), pp.345-354.​

Dellarocas, C., 2003. The digitization of word of mouth: Promise and challenges of online feedback mechanisms. Management science49(10), pp.1407-1424.

Holiday, R., 2013. Growth Hacker Marketing: A Primer on the Future of PR, Marketing and Advertising. Profile Books.

Trusov, M., Bucklin, R.E. and Pauwels, K., 2009. Effects of word-of-mouth versus traditional marketing: findings from an internet social networking site.Journal of marketing73(5), pp.90-102.

13

investors

14 active in the last 30 days

52

Start-ups

52 active in the last 30 days

12

Number of ideas

 

52

Number of messages exchanged between members