"WOM is a fascinating thing today. The masses are starting to make their own media and it's basically free," says Mark Kvamme, Partner, Sequoia Capital. People talk about social media marketing, but what does that mean?
"Think about it," he says. If you can harness the power of social marketing you don't have to pay for advertising anymore. Getting the message out is free.
It's reach over frequency in the marketing business. "But you can't have reach if you don't go where the people are are." Facebook has surpassed Google. "If you send messages to where people are spending time, you will get your message out, and you will win."
Take the The Old Spice on the Super Bowl ad. It aired on during the game and now has 5.5 million views on YouTube. It shows the power of good content and that people want to share it.