The importance of word of mouth in brand advocacy…
Simon Stanforth, group research director at Starcom MediaVest Group, analyses the results from last week’s TalkTrack study and says as long as brands continue to develop creative messaging, products and experiences, they will be rewarded by word of mouth – and that’s worth talking about…
What have you been chatting about today? In 10 conversations a day it’s likely to involve a mention of a brand, according to Keller Fay’s TalkTrack®, the very first comprehensive word of mouth study in the UK, that Starcom MediaVest Group funded alongside News International and ESPN.
Whether it’s the latest episode of The X Factor, a new pair of trainers you’ve bought, or whingeing about an extortionately expensive phone bill, all these subjects have one thing in common; they will mention brands. It is this that makes everyday conversations hugely important and influential when it comes to the success of a brand; after all, consumers are more likely to absorb and trust information they hear from their friends and family.
There really have been some fascinating discoveries with TalkTrack®, which monitored over 14,000 conversations by 2,500 people in May 2010. It has allowed us to paint a truly holistic picture of word of mouth in the UK, which we have never been able to do before. TalkTrack® for the first time delivers a clear understanding of the nature of brand conversations, detailing who, what, when and where they are taking place, allowing brands exclusive access to valuable information across numerous sectors.
Most importantly, TalkTrack®’s findings will enable brands to develop more evidence-based word of mouth strategies.
TalkTrack® revealed some interesting insights into the power of word of mouth in brand promotion. 81% of brand conversations take place face-to-face, with just 7% online. However, we also found that the internet is the key medium in stimulating word of mouth; 47% of brand conversations mention media or marketing of some kind, with the internet leading the way (15%). In addition, TalkTrack® shows that where online is mentioned, consumers are more likely to seek further brand information.
From a marketing perspective, advertising is the key driver of brand mentions (17%), followed by programming/editorial (11%), websites (10%), POS (8%), promotions (5%), social media or online reviews (4%) and direct mail (4%). This really underlines the central role that advertising plays in word of mouth.
Keller Fay Group actually coined a name for powerful consumers: Conversation Catalysts is the official name for an influential group of brand advocates identified in TalkTrack®. With a social network twice the size of the average consumer, they mention twice as many brands per week and are twice as likely to give advice. Conversation Catalysts are so important because they allow marketers to truly identify who influencers are on a brand level as well as on a category level – we can pinpoint who they are and target them better.
Through the ability to identify the most influential people and media in driving brand talk and how this varies by advertiser category, we can more intelligently stimulate brand advocacy.
The study has shown the power of the spoken word, and the role that advertising has to play. So next time you talk about those new trainers, you’re actually acting as a powerful marketing tool for that brand. As long as brands continue to develop creative messaging, products and experiences, they will be rewarded by word of mouth – and that’s worth talking about.