PRNewser FishbowlNY FishbowlDC GalleyCat TVNewser TVSpy LostRemote SocialTimes

What’s Your Word Worth?


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?

It’s the old tree falling in a forest when no one is around question. Can WOM advertising be attributed to financial gains made? It’s certainly obvious that WOM can damage a brand, so it has to be expected that it can have the postive affect of increasing the brands number of consumers. But, I think the argument is to how effective that is. Are consumers wasting time with this “stunt” marketing?

Last week, I got an email about the Gatorade spot by Element 79 that Matt posted about here on AS weeks ago. And sure some people are still buzzing about it, but I haven’t heard how it’s translated into sales. And if you look at youtube, lots of people even missed the point that it’s a Gatorade ad. I can think of tons of recent emails or billboards that I’ve read that piqued my interest enough to find out what they were about. Once I knew that answer, I still didn’t run out to buy the product.

Does that mean that at the end of the day WOM might not actually be as effective as the experts say?

Mediabistro Course

Copywriting: Creative Ad Writing

Copywriting: Creative Ad WritingWork with a freelance copywriter to build your advertising portfolio and land more copywriting jobs! Starting January 12, Kim Taylor will teach you how to make a complete ad using graphics and photos, write strong headlines and body copy for various advertising media, work from a creative brief, and jumpstart your ad portfolio. Register now!