Social Media Marketing: The Latest BUZZ on Word of Mouth!

Credit Visible Technologies in Seattle for working with the Aberdeen Group to come up with new research on Word of Mouth marketing. Here are some key findings:

  • Best-in-Class companies are nearly 19 times more likely than Laggards to increase marketing effectiveness.
  • Best-in-Class companies are more than 2.5 times more satisfied than Laggards with their ability to drive brand advocacy on the part of consumers.
  • Best-in-Class companies are 80 times more likely than Laggards to increase return on marketing investment (ROMI

The following is from the report which I strongly recommend you access and read:

Aberdeen found that nearly two-thirds (63%) of Best-in-Class companies, compared to only one-third (33%) of Laggards, rank their experiences with social media marketing as successful.

How do Best-in-Class companies track and measure the success of their social media marketing activities?

Some metrics focus on “share of voice” as viewed through the lens of sentiment – e.g., positive versus negative buzz. Other metrics focus indicators like “level of influence” based on statistics like number and frequency of unique visitors to a blog or discussion forum on a monthly basis, RSS reach, comment-to-post ratio, and “level of authority” and “quality of distribution channels” ratings.

According to survey responses, 65% of Best-in-Class companies, versus 45% of Laggards, use brand awareness as a metric for measuring success of their social media marketing activities. Customer engagement is used even more frequently, with 74% of Best-in-Class companies, versus 56% of Laggards, factoring related metrics (such as the number and / or average length of interactions) into the equation.

Today 60% of Best-in-Class companies, versus 28% of Laggards, use brand advocacy “likelihood to recommend” metrics, such as Net Promoter Score, for assessing campaign effectiveness.For many, brand advocacy is the epitome of social media marketing. Survey results indicate
that Best-in-Class companies are more than 2.5-times more satisfied than Laggards (75% versus 29%, respectively) with their ability to drive brand advocacy on the part of consumers.

Read the full report.


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