Alternate title: We told you so.
In one of its latest whitepapers, BzzAgent explores the value of word of mouth as compared to several other forms of advertising. And, lucky for us, the paper claims that WOM is the most efficient means of generating brand awareness and ultimately driving sales.
The study shows that WOM communications generate an extraordinarily high recall rate (95%) when compared with print, paid search, TV, online, and radio advertising. While the cost per impression is slightly higher than these other forms of advertising, the strong recall rate keeps the required investments low.
And, as if that wasn’t good enough, WOM strategies are most effective in driving consumer purchase intent. The whitepaper claims that there is a 10-15% conversion rate on word of mouth impressions – a truly startling number when you begin to compare this with the rates of other mediums.
A quick glance at this chart and you’ll see what we mean:
Images courtesy of BzzAgent
