Comments on: Word of Mouth is very valuable – as long as you do not pay for it

By: Social Business Innovation | | Collaborative InnovationCollaborative Innovation

Thu, 22 Sep 2011 16:50:36 +0000

[...] evaluate things in a social framework or in a market framework – with the social framework being much more powerful than the market framework. If you pay [...]

By: Rethinking customer reference programs

Rethinking customer reference programs — Sat, 27 Mar 2010 23:23:05 +0000

[...] (WOM) activity the company is trying to foster. Since customers who are acquired through WOM are much more profitable than those acquired by traditional marketing programs, companies should make that a high priority. [...]

By: hypersocialorg.com

hypersocialorg.com — Sat, 27 Mar 2010 23:21:44 +0000

By: Deborah Overdeput

Deborah Overdeput — Thu, 14 Jan 2010 20:23:08 +0000

Really enjoyed meeting you at the IERG meeting in Boston. I listened to your MENG presentation today — it was great. Communities and word of mouth marketing was the focus. This article touches a bit on what you said. Your presentation was even more engaging. Can’t wait to read your upcoming book!

By: Charles

Charles — Fri, 18 Dec 2009 11:34:50 +0000

I recall that part of Predictably Irrational that discusses how framing a request can influence behavior. If the request to tell friends is framed with self interest, I don’t think people will be as likely to share and the recommendation may seem less trustworthy if the self interest is revealed.

By: Paul Gray

Paul Gray — Fri, 18 Dec 2009 11:20:05 +0000

Great post. Just the other day I received a generic direct mail from my subscription TV provider encouraging me to sign up four friends to the service. I’ve received these before from this company as well as banks, utilities, mobile phone companies and more.

I don’t think I’ve ever used one. Why? Because it seems incredibly complicated – what am I meant to do? Go give a sales pitch to a friend telling them to sign up for service X so that we can both get $20 off our next bill? No thanks, couldn’t be bothered.

Also, another problem I have with this type of marketing is that the systems are inevitably quite complex. It can be very difficult to track things with either the referer or referree required to enter/mention my name or some sort of code at time of registration.

I agree with your argument – marketers must focus on making the product compelling, valuable, easy to understand and explain and people will take it upon themselves to talk about it.

@paulalexgray

By: Stefano Maggi

Stefano Maggi — Thu, 17 Dec 2009 08:27:25 +0000

Great thinking.

I think word of mouth is something you “have to pay for” but the difference with traditional media is that you’re not paying a media investment. You need to invest time (and this means money, too) to find out the best way to build engagement.

So, social media is nothing you have to buy, but it’s something you definitely need have to pay for (or invest in).

It’s not free.

By: Shannon Paul

Shannon Paul — Thu, 17 Dec 2009 01:24:23 +0000

“The key to success is not by commercializing the social – it’s by making the social stronger.”

This is my instinct, too.

People in social networks do connect with companies in order to receive deals and special promotions, but I think there definitely needs to be an awareness to the psychology that fuels this kind of connection. Does the deal or promotion feel like a gift or a financial incentive. Curiously enough we have a word for “financial incentive” — bribery — which, is not a very nice word.

I’m especially skeptical of the sort of “retweet to win” contests we see all over Twitter recently. The connection is so thin and can often put a person’s social capital at risk, however, these are the ideas that are often attempted first as companies wade their way into social media. Although, I suppose not every connection should require depth. Sometimes a short-term buzz could be beneficial, but I’m with you in the sense that benefits that arise from social connection and reciprocation are much more powerful in the longterm.

I’m so glad I nudged you on Twitter into writing this. It’s always good to pick your brain

By: uberVU - social comments

uberVU - social comments — Thu, 17 Dec 2009 01:06:48 +0000

Social comments and analytics for this post…

This post was mentioned on Twitter by fgossieaux: New blog post: Word of Mouth is very valuable – as long as you do not pay for it http://bit.ly/4SutFB...

By: Tweets that mention Word of Mouth is very valuable – as long as you do not pay for it -- Topsy.com

Wed, 16 Dec 2009 22:31:14 +0000

[...] This post was mentioned on Twitter by francois gossieaux, Darrin Johnson. Darrin Johnson said: RT @fgossieaux: New blog post: Word of Mouth is very valuable – as long as you do not pay for it http://bit.ly/4SutFB [...]