Difference between revisions of "Word of Mouth Marketing"

Latest revision as of 13:39, 3 January 2023

What is Word of Mouth Marketing?

Word of mouth marketing (WOMM) is a type of marketing that relies on the recommendations and referrals of satisfied customers to promote a product or service. It can take many forms, including face-to-face conversations, online reviews and ratings, and social media posts.

WOMM is often seen as more trustworthy and credible than traditional marketing, as it comes from real people who have firsthand experience with the product or service. It can be an effective way to build brand awareness and loyalty, as well as to generate new leads and sales.

There are several strategies that companies can use to encourage and amplify WOMM, including:

Providing excellent customer service: Happy customers are more likely to recommend a product or service to others.
Creating shareable content: Creating content that is interesting, informative, or entertaining can encourage people to share it with their network.
Leveraging social media: Using social media platforms to connect with customers and encourage them to share their experiences can amplify WOMM efforts.
Offering incentives: Offering incentives, such as discounts or rewards, to customers who refer others can encourage WOMM.
Tracking and measuring WOMM: Using tools to track and measure WOMM can help companies understand its impact and identify areas for improvement.

WOMM can be an important part of a company's overall marketing strategy, as it can help build trust and credibility with potential customers.

References

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-Word-of-mouth marketing (or WOM marketing) is when a consumer's interest in a company's product or service is reflected in their daily dialogues.<ref>[https://www.investopedia.com/terms/w/word-of-mouth-marketing.asp Word-of-Mouth Marketing: Meaning and Uses in Business]</ref>
+== What is Word of Mouth Marketing? ==
+'''Word of mouth marketing (WOMM)''' is a type of marketing that relies on the recommendations and referrals of satisfied customers to promote a product or service. It can take many forms, including face-to-face conversations, online reviews and ratings, and social media posts.
+WOMM is often seen as more trustworthy and credible than traditional marketing, as it comes from real people who have firsthand experience with the product or service. It can be an effective way to build brand awareness and loyalty, as well as to generate new leads and sales.
+There are several strategies that companies can use to encourage and amplify WOMM, including:
+#Providing excellent customer service: Happy customers are more likely to recommend a product or service to others.
+#Creating shareable content: Creating content that is interesting, informative, or entertaining can encourage people to share it with their network.
+#Leveraging social media: Using social media platforms to connect with customers and encourage them to share their experiences can amplify WOMM efforts.
+#Offering incentives: Offering incentives, such as discounts or rewards, to customers who refer others can encourage WOMM.
+#Tracking and measuring WOMM: Using tools to track and measure WOMM can help companies understand its impact and identify areas for improvement.
+WOMM can be an important part of a company's overall marketing strategy, as it can help build trust and credibility with potential customers.
 ==See Also==
-*[[Business Strategy|Define Business Strategy]]
+*[[Business Strategy]]
-*[[IT Strategy (Information Technology Strategy)|Definition of IT Strategy]]
-*[[E-Strategy|Define e-Business Strategy]]
-*[[IT Governance|Define Corporate Governance of Information Technology]]
-*[[Enterprise Architecture|Define enterprise architecture]]
-*[[IT Sourcing (Information Technology Sourcing)|What is IT Sourcing?]]
-*[[IT Operations (Information Technology Operations)|Define IT Operations]]
-*[[Chief Information Officer (CIO)|CIO]]