Did you know…
In November, 2014, the first-ever study of the return on investment of online and offline WOM was conducted by the Word of Mouth Marketing Association. Here is the summary of findings:
RETURN ON WORD OF MOUTH
Word of Mouth (WOM) drives 13% of sales (paid marketing in total drives 20-30% of sales).
WOM amplifies the effect of paid media by 15%.
Offline WOM produces 2/3 of the impact; online 1/3.
WOM has a more immediate impact than traditional advertising—most in the first two weeks.
One offline WOM impression drives sales at least 5 times more than one paid media impression, and much more (as much as 200 times more) for high-ticketed items and services.
Register today for WVF’s free workshop: Word-of-Mouth Marketing Today: How Social Media Fuels WOM