Word of Mouth Marketing Standards Released
The Word of Mouth Marketing Association (WOMMA), the official organization for the word of mouth marketing industry has released the first set of standards for tracking and quantifying word of mouth (WOM) marketing. The standards will be be called "Measuring Word of Mouth, Volume 1."
Both the Terminology Framework and the "Measuring Word of Mouth" report begin to answer the 6 critical questions that have a fundamental impact on the ROI of word of mouth campaigns:
1. How do you track and measure word of mouth?
2. How do you prove the ROI of WOM?
3. How do you know which strategies work best?
4. How do you optimize messages so they will go viral?
5. Why do consumers become advocates or detractors?
6. How does WOM fit into your media plan?
"Word of mouth marketing has a direct impact on all other marketing initiatives," says WOMMA CEO Andy Sernovitz. "If you can't measure word of mouth, you can't effectively measure the rest of your marketing, either."
Top experts from business and academia worked for six months to draft the Framework under the banner of WOMMA's Research and Metrics Council. The Council is chaired by Ed Keller, CEO, GfK NOP (and co-author of The Influentials); Jonathan Carson, CEO, Buzzmetrics; and Dr. David Godes, Harvard Business School. Key authors also include Idil Cakim, Burson-Marsteller; Walter Carl, Northeastern University; Karthik Iyer, Intelliseek; and Gregory Wester, VoodooVox.
WOMMA member companies which participated in the drafting of the Terminology Framework or authored a paper for the book include: AOL, BIGresearch, Brand Autopsy, BzzAgent, Brandimensions, Burson-Marsteller, BuzzMetrics, ComBlu, comScore Networks, CRM Metrix, Cymfony, DEI Worldwide, Decision Analyst, Duke University, Future Now, GSD&M, Higher One, Intelliseek, Jupiter Research, Kaava, Market Navigation, Matchstick, Moroch, Millward Brown, Nielsen//NetRatings, GfK NOP, OnMessage Communications, The Phelon Group, REACH Media, Starcom, Simmons Market Research Bureau, StartSampling, Target Marketing, and the University of Maryland.
"Measuring Word of Mouth, Volume 1" is the 226-page book published along with the Terminology Framework. Containing 30 white papers and articles, the book covers the latest thinking and trends in WOM research, and how standard media plans and existing research can utilize the Framework. Future volumes will be published semi-annually.
These topics will be discussed in depth at WOMMA's Measuring Word of Mouth Conference, taking place July 13 in Chicago. This first-ever industry event devoted to word of mouth research was sold out in 20 days, using only word of mouth marketing. Nearly 200 marketers and researchers are attending.