Last week we teamed up with our friends at Crayon to host a live webinar focused on word of mouth marketing (WOMM). We had a lively discussion breaking down the way consumers are shopping today, why brands struggle building formal WOMM programs, and actionable steps to kickstart an effective WOMM strategy.
Why WOMM matters
According to a Nielsen report, 92% of consumers believe suggestions from friends and family more than advertising. Despite this overwhelming consumer dynamic, it is estimated that less than 1% of marketing dollars are allocated towards word of mouth marketing. Brands that initiate effective WOMM strategies set themselves apart throughout the buying journey.
Advertising is the cost of being boring.
– Andy Sernovitz
Why more brands don't have WOMM programs
It can be extremely difficult finding loyal, trusted, brand advocates amongst your core customer base. For brands that overcome this hurdle, activating and managing WOMM campaigns is resource demanding and often proves to be impossible to manually scale.
Word-of-mouth has been shown to improve marketing effectiveness by up to 54%. – MarketShare
When brands execute WOMM the results are staggering
When brands commit to developing and executing WOMM programs, the results are positive. Brands see a decrease in customer acquisition costs, and increase in average cart size, and a deeper loyalty with existing customers. In this webinar, we explore 4 examples of brands executing great WOMM programs.
Robust advocacy-marketing programs are achieving significant revenue gains—10 to 20 percent for established products and up to 100 percent for new products.
Listen to our webinar
Listen in as Wooly CMO, Nick Stagge shares why WOMM is important, what makes an effective program, and how brands like Salomon, Lululemon, Patagonia, and nuun have grown their business through savvy word of mouth marketing.