The effort focuses on categories including telecommunications, food, beverage, software, personal services and television through online and offline consumer conversations and recommendations.
Among the findings, the results revealed that on average, word of mouth drives 13% of consumer sales (or an estimated $6 trillion annually in the U.S.), and can significantly amplify paid media/marketing. Also, that word-of-mouth, in higher price-point sales, resulted up to 20% of sales.
“Word of mouth is an area that begs for more deliberate decision making and planning from marketers, as it works hand-in-glove with paid media,” stated Analytic Partners president Nancy Smith. “We now have in place the techniques and know-how to measure the impact of all forms of word of mouth.”