Word of mouth matters.

July 19, 2010 at 11:42 am Leave a comment

from The Daily Stat | Harvard Business Review

Word of mouth is no longer just an intimate act: Consumers post product reviews online and disseminate opinions through social networks. McKinsey research indicates that in developed markets, word of mouth has its biggest impact when consumers decide which products to consider and when they’re actively evaluating products — at those moments, 18% and 19%, respectively, see it as the single most important factor influencing them. In developing markets, WOM is most significant at the moment of purchase (46%). In both kinds of markets, word of mouth is the only factor that ranks among the top three at every stage.

Source: A new way to measure word-of-mouth marketing | McKinsey

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Entry filed under: advertising, customer focus, digital strategy, marketing, marketing coach, social media.

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