{"id":27591,"date":"2009-08-03T01:28:13","date_gmt":"2009-08-03T00:28:13","guid":{"rendered":"http:\/\/www.corporate-eye.com\/blog\/?p=27591"},"modified":"2009-08-01T19:46:57","modified_gmt":"2009-08-01T18:46:57","slug":"brands-spending-more-than-ever-on-word-of-mouth-marketing","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/brands-spending-more-than-ever-on-word-of-mouth-marketing\/","title":{"rendered":"Brands Spending More Than Ever on Word-of-Mouth Marketing"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignleft size-full wp-image-27601 lazyload\" title=\"word-of-mouth-marketing-report\" data-src=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/08\/word-of-mouth-marketing-report.jpg\" alt=\"word-of-mouth-marketing-report\" width=\"186\" height=\"248\" data-srcset=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/08\/word-of-mouth-marketing-report.jpg 186w, https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/08\/word-of-mouth-marketing-report-150x200.jpg 150w\" data-sizes=\"(max-width: 186px) 100vw, 186px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 186px; --smush-placeholder-aspect-ratio: 186\/248;\" \/>There is no doubt that word-of-mouth marketing on the social web can have a significant effect on a brand.\u00a0 That effect has not gone unnoticed and according to a <a href=\"http:\/\/www.pqmedia.com\/about-press-20090729-wommf.html\">new report<\/a> from <a href=\"http:\/\/www.pqmedia.com\">PQ Media<\/a> with the Word of Mouth Marketing Association (<a href=\"http:\/\/womma.org\/main\/\">WOMMA<\/a>), brand spending on word of mouth marketing in 2008 grew by 14.2% to $1.54 billion.\u00a0 The growth is expected to slow to 10.2% in 2009, but that&#8217;s still a strong double-digit growth rate.\u00a0 Clearly, word of mouth marketing is taking a chunk out of some other traditional marketing tactics.<\/p>\n<p>It&#8217;s important to understand that word of mouth marketing spending still only comprises a small fraction of overall brand marketing spending, but it also represents a shift in marketing investments that is not likely to stop growing anytime soon.\u00a0 Connecting with consumers on websites like Facebook, YouTube and Twitter is the low hanging fruit that every brand manager wants to pick but still hasn&#8217;t found the way to detach from the branch.\u00a0 That makes the shift in marketing investment from traditional tactics to online word of mouth marketing a scary one, and that&#8217;s a risk that many executives still aren&#8217;t prepared to make.\u00a0 It&#8217;s a shame really.\u00a0 The opportunities are so great.<\/p>\n<p>With the growing importance of word of mouth marketing, consultants are reaping the rewards.\u00a0 In fact, PQ Media reports that the word of mouth business grew by 18.7% in 2008 to $197 million.\u00a0 There are even awards and recognition for word of mouth marketing campaigns like the <a href=\"http:\/\/womma.org\/WOMMY\/story\/\">WOMMY Awards<\/a>.<\/p>\n<p>Interest in word of mouth marketing is coming from all sides these days.\u00a0 It&#8217;s not surprising.\u00a0 Consumers are tired of being spoken at and want to be spoken to.\u00a0 With the economic client failing them, they have lost trust in brands and look to people they know more so than ads and traditional marketing tactics to get information and make purchase decisions.\u00a0 The only question brand managers and executives should be asking themselves is <em>how much<\/em> can we invest in word of mouth marketing this year?\u00a0 If they&#8217;re still wondering if they should invest in word of mouth marketing <em>at all<\/em>, then they&#8217;re in trouble.<\/p>\n<p>Your thoughts?<\/p>\n<p><em>Image: <a href=\"http:\/\/www.pqmedia.com\/word-of-mouth-marketing-forecast-2009-read.html#displayMore\">PQ Media<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There is no doubt that word-of-mouth marketing on the social web can have a significant effect on a brand.\u00a0 That effect has not gone unnoticed and according to a new report from PQ Media with the Word of Mouth Marketing Association (WOMMA), brand spending on word of mouth marketing in 2008 grew by 14.2% to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95],"tags":[100,520,647,5541,1011,245,5551,125],"class_list":{"0":"post-27591","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-brand","7":"tag-brand-strategy","8":"tag-online-branding","9":"tag-online-marketing","10":"tag-pq-media","11":"tag-social-media-branding","12":"tag-womma","13":"tag-word-of-mouth-branding","14":"tag-word-of-mouth-marketing","15":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ 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