Any marketer knows that word of mouth marketing is the best form of marketing but is the quote above an exaggerated statement?

“Anytime you ask consumers what is the biggest factor that influences their buying decisions they say that it’s the recommendations and opinions of the people in their lives.”

These quotes are pretty powerful statements and came from Jeffrey Graham, Exec. Director of Customer Insight at the New York Times in an interview he did with Eric Schwartzman on his weekly pod cast, On the Record Online.

I listen to this pod cast because Schwartzman covers an incredibly pertinent topic for marketers which is the evolution of PR from traditional mediums to online mediums. Eric Schwartzman also a great interviewer and does some pretty impressive interviews with key people in the world of PR. I love hearing their opinions and getting a whiff of their expertise.

Word of mouth should be at the center of any marketing strategy. Let’s go back to that statement which is where I started this post.  When listening to this interview, I couldn’t help thinking how social media marketing is the new word of mouth marketing.  These days, word of mouth is most easily built through social media marketing.  With so many tools to choose from in your social media toolbox, its easier and easier to build momentum with your brand through social media.

Jeffrey Graham also says that marketers can make word of mouth the center of their marketing strategy in two ways:

1.    You have to make word of mouth your objective.

You have to have something for people to talk about. This is at the heart of your social media strategy.  Social media will not work for you unless you give your customers or fans something to talk about.

2.    You have to target people that influence people. It’s no longer sufficient to just target a broad demographic.

There are certain types of people that talk more, that influence others more with their opinions.  These are your Mavens. Most marketers know this term from Malcom Gladwell’s book, ‘The Tipping Point.’  You must target your Mavens because they are the biggest drivers of word of mouth. And where can you find mavens anymore but online? For example, if you have a product for Volkswagen enthusiasts you are going to find the mavens in the VWVortex Forums.

More and more people are beginning to go online to talk about everything under the sun.  This is precisely why Social Media Marketing is essential for building your following through word of mouth.  I wonder if Graham or any others would agree or disagree?

Interview Source: http://www.ontherecordpodcast.com/pr/otro/default.aspx
Posted by Corey Curwick of Butter Marketing on December 10, 2008

• Men are twice as likely than women interact frequently (one or more times per week) with companies via social media (33% vs. 17%).
• One-third of younger, hard-to-reach consumers (age 18-34) believe  that companies should actively market to them via social networks.
• The wealthiest households (household income of $75K+) also believe that companies should seek to reach them via social media.
• Two-thirds of the wealthiest households and the largest households ( those with three or more members) feel stronger connections to brands they interact with online.