Thursday, July 9, 2009

Word of Mouth Tops All Other Media

Excerpted from World Advertising Research Center's 7/9/2009 article
Word-of-Mouth Works for Consumers"

Based on a survey of 25,000 adults in 50 countries, Nielsen research finds online and offline word-of-mouth are regarded as being the "most trusted forms of advertising."
  • 90% of consumers around the world trust recommendations from people they know when discussing brands
  • 70% accord the same status to online consumer reviews
According to Jonathan Carson, international online president of The Nielsen Company, the "explosion in consumer-generated media" means the importance of word-of-mouth "has increased significantly."

My Take

With the growth of social networking sites and the dominance of social media usage, the Web-inization of local word-of-mouth is inevitable. If consumers begin sharing trusted word-of-mouth referrals it at a rate similar to their adoption of social media, it will tip the $100 billion US local ad market.

About is a local and Web-based (Web 2.0) social network that provides businesses with a means for connecting with their customers and neighbors encouraging more word-of-mouth sales leads rewarding their network of referrers

The purpose of is three-fold:
1. to facilitate “word-of-mouth” referrals among consumers for the local businesses they trust
2. to increase sales revenues for trustworthy businesses
3. to benefit the not-for-profit organizations that are supported by the network members

Membership in the network is free.

The mission of is “Rewarding the community by empowering trusted relationships.”

The goal of the is to “turn local advertising upside down and inside out”. “Upside down” because businesses only pay for advertising after it has been effective – not before. “Inside out” because businesses pay the advertising fee to their neighbors and satisfied customers who brought them the qualified sales lead – not to a third party publisher.

Related Web-based Services:
No other services offer the combination of social, local, affiliate, not-for-profit features which comprise's process. (see chart)
blog comments powered by Disqus