Sunday, April 25, 2010

Online Word of Mouth Marketing?

You may all be familiar with the regular word of mouth marketing, for example, when you hear about a good company from someone telling you in person about how great it was.

Well today, word of mouth marketing has gone on the web. Like everything else, online word of mouth marketing has shot off into its own field. Social networking is higher in popularity than ever before. So it only makes sense that people are now using social networking web site to spread the word hints the online word of mouth marketing.

Mashable put together an Influence Impression Data: 500 Billion Per Year. The results are as follows..

Bernoff presented a number of research findings around influence impressions, defining two key buckets where people are sharing information about products and services online:

1. Influence impressions: these happen on social media and networking sites: Twitter, Facebook, MySpace (MySpace), LinkedIn (LinkedIn), and others. The people who make them know generally who they’re connecting with and who will read them (people they know).
2. Influence posts: these are more permanent data points in blog posts, ratings and reviews sites, and in discussion forums. These tend to be less directed, in that when putting a post online it’s not usually known how many or who will be reading it.

In the first category, the research study found 256 billion influence impressions occurring per year. Influence posts were numbered at 1.64 billion per year, which accounted for generating another 250 billion impressions. In other words, people are making 500 billion influence impressions on one another about products and services every year.

The research also looked at where those influence impressions are happening. The following graph captures the results of where people are sharing influence online in both of the above categories:

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