Nate Eliott Forrester presentation for WOMMA
Post on 23-Jan-2018
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© 2015 Forrester Research, Inc. Reproduction Prohibited 4
Agenda
› WOM marketing isn’t working
› The state of the market
› How to fix word of mouth
© 2015 Forrester Research, Inc. Reproduction Prohibited 5
Agenda
› WOM marketing isn’t working
› The state of the market
› How to fix word of mouth
© 2015 Forrester Research, Inc. Reproduction Prohibited 11
But word of mouth marketing
isn’t working.
MARKETING
© 2015 Forrester Research, Inc. Reproduction Prohibited 12
Too many brands post and pray
But this does not
generate word of
mouth
© 2015 Forrester Research, Inc. Reproduction Prohibited 20
Agenda
› WOM marketing isn’t working
› The state of the market
› How to fix word of mouth
© 2015 Forrester Research, Inc. Reproduction Prohibited 21
Today, we published a WOMP landscape
• WOMP = Word of Mouth Platform
• Our vendor landscape reviewed 40 vendors
• Each filled out a questionnaire
• We interviewed two dozen of them
• We also interviewed and collected data from two
dozen word of mouth marketers
• Including some of the biggest brands in the world
© 2015 Forrester Research, Inc. Reproduction Prohibited 22
Forrester sees three kinds of WOM
1
Customer
Advocates
Use existing,
satisfied customers
to spread brand
messages.
2
Employee
Advocates
Use your employee
base to spread
brand messages.
3
Category
Influencers
Use people influential
among your key
audiences to spread
brand messages.
© 2015 Forrester Research, Inc. Reproduction Prohibited 23
And we looked at three types of WOMPs
1
Customer
Advocacy
Platforms
2
Employee
Advocacy
Platforms
3
Category
Influencer
Platforms
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Measurement is a mess
The average WOM
vendor offers
marketers 8
“success” metrics
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I asked 14 large brands if they
would recommend their WOM
vendor to a colleague.
Only 4 said they would.
© 2015 Forrester Research, Inc. Reproduction Prohibited 30
Agenda
› WOM marketing isn’t working
› The state of the market
› How to fix word of mouth
© 2015 Forrester Research, Inc. Reproduction Prohibited 32
Fix 1:
Marketers must start
taking WOM seriously.
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Never again hijack an irrelevant hashtag
Wrong Right
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And for goodness’ sake, put some resources into this strategy
• Most marketers we spoke to said they had zero
or one person dedicated to WOM.
• Only half the marketers we spoke to said they
had increased their WOM investment in 2015.
• Most marketers I’ve spoken to don’t use any
external vendors to help with WOM.
© 2015 Forrester Research, Inc. Reproduction Prohibited 36
But if you fix the vendors,
you fix the industry.
© 2015 Forrester Research, Inc. Reproduction Prohibited 37
Fix 2:
WOM vendors must offer both
advocate and influencer services.
© 2015 Forrester Research, Inc. Reproduction Prohibited 40
WOM vendors must offer both advocate and influencer services
• We’re not looking for end-to-end social suites.
• No vendor can do ads, organic, and WOM well.
• Clients of end-to-end social suites are less satisfied.
• But marketers can’t justify hiring three WOMPs.
• The vendors that offer complete WOM services will
win the market.
© 2015 Forrester Research, Inc. Reproduction Prohibited 41
Fix 3:
WOM vendors must offer
useful success metrics.
© 2015 Forrester Research, Inc. Reproduction Prohibited 43
WOM vendors must offer useful metrics
• Measure business outcomes, not operational
metrics like contacts and posts.
• Only one-quarter of vendors focus measurement on
business outcomes like awareness or sales.
• Integrate with the tools marketers trust.
• CMOs already use mix modeling and attribution
tools; make sure these vendors can use your data.
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