That is the question that BzzAgent, a Boston-based word-of-mouth marketing agency asked. And they figured out that a conversation by one of its 425,000 agents on behalf of a brand is worth half a dollar. “A 50 cent cost per conversation is the norm,” is what BzzAgent president, Dave Balter says. A recent article in Brandweek talks about how the word-of-mouth marketing industy is lurching towards some sort of standardized ROI metric, but that still hasn’t been defined.
Some say that calls into question how effective this type of advertising/viral marketing really is. If you can’t put a figure on what is being gained, how can you know that you’re reaching your specific target?