The importance and power of the word of mouth is likely to grow in the future as stated earlier on this blog (“Word of Mouth: The Future of Marketing). The three major reasons come first to mind:
1) The Internet and social media dramatically accelerate the speed of word of mouth,
2) Smart mobile phones and text messaging make now this process even faster,
3) Unlike before, with the new online technologies most of the conversations stay recorded forever.
We are entering the new era of business. The new era of word of mouth. The Word of Mouth 2.0!
According to mark Hughes (and his book titled “Buzzmarketing”) there are five (more) trends that make WOM even more important:
1) Trust in consumer advertising plummeting
2) DVR penetration
3) Consumer content creation
4) Acceleration of buzz with new digital media
5) The Law of Six
The Law of Six? According to research done in 1970 by David Ogilvy of Ogilvy & Mather on average people pay attention to the content in print media six times more than its advertising. Similarly, according to recent research done by Jupiter people who search on Google click six times more on the content or organic search results than on sponsored advertisements.