closed loop wom marketing-slides

8/3/2019 Closed Loop WoM Marketing-Slides

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Closed loop WoM MarketingThe cost effective alternative

"Before if you were making a product, the right business strategy was to put 70% ofyour attention, energy, and dollars into shouting about a product, and 30% intomaking a great product. So you could win with a mediocre product, if you were agood enough marketer. That is getting harder to do. The balance of power is shiftingtoward consumers and away from companies...the individual is empowered... The

right way to respond to this if you are a company is to put the vast majority of yourenergy, attention and dollars into building a great product or service and put asmaller amount into shouting about it, marketing it. If I build a great product orservice, my customers will tell each other.

Jeff Besos, Founder & CEO of Amazon


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WoM is the most trusted media

http://www.amplifiedanalytics.com415.742.2580


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Word of Mouth creates reputation


http://www.facebook.com/pages/Amplified-Analytics/125557687467210


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Definition of Terms - WoM

Word of Mouth anything &

everything that is being said,

privately or publicly, regardless of

media or technology, about or inreference to your product by

consumers

experts or

customers



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Definition of Terms - VoC

Reviews are

the most influentialVoice of Customers

Before deciding whether to purchase recommended products or services, more than four-out-of-five

consumers (81%) will go online to verify those recommendations, specifically through researching

product/service information (61%), reading user reviews (55%) or searching ratings websites (43%).

2010 Online Influence Tread Tracker, Cone Research


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Definition of terms - CF

Customer Feedback a

subset of Voice of Customer

that is collected and

managed by a company.



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People communicate in

unstructured language of stories

Companies understand numbers

and structured, scalable process.



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ProductLife

Cycle

Use Social

Media to

Launch

Engage

Customers

for

Feedback

Translate

Voice of

Customer

into Action

Use WoM

to Learn

customer

needs

Role of WoM in Product Life Cycle



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Product

LifeCycle

Use Social

Media to

Launch

Engage

Customers

forFeedback

Translate

Voice of

Customer

into Action

Use WoM

to Learn

customerneeds




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ProductLife

Cycle

Use Social

Media to

Launch

Engage

Customers

for

Feedback

Translate

Voice of

Customer

into Action

Use WoM

to Learn

customer

needs




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ProductLife

Cycle

Use Social

Media to

Launch

Engage

Customers

for

Feedback

Translate

Voice ofCustomer

into Action

Use WoM

to Learn

customer

needs




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10 Dos & Donts of Closed Loop WoM

1. Do not try to Control

WoM



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2. Do not try toManipulate WoM -

authenticity is the

currency of socialinteraction.



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3. Do not try to manage

WOM as a CAMPAIGN



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4. Do threat WoM as a

management process.



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5. Do stimulate WOM

flow regardless of

sentiment.



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5. Do actively

stimulate WOM

flow regardless

of sentiment.

Number

of

Reviews

Aggregated

CSI

Unit

Shipped

Q2 2010

Review

per unit

shipped

LG 1,058 1.55 646 0.01%Panasonic 4,370 1.56 227 0.16%

Samsung 17,648 1.48 1,448 0.10%

Sharp 1,324 1.44 176 0.06%

Sony 4,606 1.48 806 0.05%

Toshiba 3,030 1.43 402 0.06%



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6. Do manage

reputation of your

product /brand

strategically



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7. Do understand the

roles of the WoM

channels

Twitter?

Facebook?

Customer

Reviews



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8. Do not buyinto thetheory of

GenerationalDivide.



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8. Do not buyinto thetheory of

GenerationalDivide.



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9. Do analyze WOM for the

competitive products to

access and improve your

own position



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10.Do monitor VoC to measure

customer satisfaction and

acceptance through the

product lifetime



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We shall energize

our product

promoters


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4. We shall use text

analytics to HEAR

what is important to

our product

promoters.


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Action plan

Design Word of Mouth

stimulation program

Implement listen & act

strategy

Close the loop



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http://www.amplifiedanalytics.com415 742 2580

Advertising can help you sell goodproducts, but only your customers can

help you build a great Brand!

closed loop wom marketing-slides

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