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Word-of-mouth marketing on the upswing

MediaPost Publications, 11/16/07

Abstract:

Word-of-Mouth Marketing is expected to surpass $1 billion in 2007, making it one of the fastest-growing alternative media formats. In a new research report, PQ Media also predicts that spending on word -of-mouth marketing will grow at an annual rate of 30.4%, and will hit $3.7 billion by 2011.

Helping drive the growth of WoM marketing are Web 2.0 technologies such as social networks, blogs that allow consumers to share information, and opinions about brands and products. While 90% of WoM activity is estimated to take place offline, marketers are shifting more spending to online vehicles that can provide more measurable results...

...What exactly is WoM marketing? PQ Media defines it as an alternative marketing strategy that uses online and offline tactics involving peer "influencers," WoM communities and brand advocates to encourage consumer dialogue about products and services.

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