Showing posts with label socialnetwork wordofmouth socialmedia web2.0 yougottacall. Show all posts
Showing posts with label socialnetwork wordofmouth socialmedia web2.0 yougottacall. Show all posts

Saturday, January 17, 2009

Simplicity

The best things in life are simple.

Local businesses rely on “word-of-mouth” referrals as their most efficient and profitable form of advertising. Millions of WOM referrals “just happen” every day as people talk to people.

So WOM must be a very simple process – right? Let’s break down the steps involved in a typical WOM referral. Then you tell me:

1. Consumer A must have established trusted relationships with at least one local Business.
2. Consumer A must have relationships with Consumer B in same locale
3. Consumer A must have contact with Consumer B
4. Consumer B must have a need for service of local Business
5. The topic of conversation must arise relating to Consumer B’s need for the services of Business
6. Consumer A must decide that it is acceptable to recommend the services of their trusted Business
7. Consumer A must transmit local Business’s contact information to Consumer B
8. Consumer B must retain Business’s contact information
9. Consumer B must retrieve Business’s contact information
10. Consumer B must contact Business

And – bonus steps:

11. Consumer B must notify Business that referral was made by Consumer A
12. Business rewards Consumer A

While this process occurs millions of times each day, it is surprisingly complex and contains multiple critical dependencies. It is also largely random. Its success is testimony to the efficiency of our network of friends and neighbors as means of sharing information.

YouGottaCall.com can be used in a number of ways to find or share information on trusted local businesses. Our goal is to increase the efficiency of the WOM process by making it systematic.

Its “direct referral” process mirrors the above steps like this:

1. Member A has a trusted relationship with at least one local Business.
2. Business is a Member of YouGottaCall
3. Member A has relationships with a Consumer in the same locale
4. Member A has contact with Consumer
5. Consumer has a need for service of local Business
6. The topic of conversation arises relating to Consumer’s need for the services of Business
7. Member A recommends the services of the trusted Business
8. Member A sends local Business’s contact information to Consumer
9. Consumer registers as Member (B) and contacts Business
10. Business receives information and contacts Member B

And – bonus steps:

11. Business automatically knows that referral was made by Member A
12. Business pays a voluntary reward that goes to Member A’s and B’s designated charities.

We can’t always improve on Nature – but we can copy it. As used above, YouGottaCall mirrors the steps in the natural, person-to-person, word-of-mouth referral process. But it also increases efficiency by eliminating the loss of contact information and automating the tracking and reward processes.

YouGottaCall can also be used like a search engine for “indirect referrals”. In this mode, the major benefit of YouGottaCall over search engines is the use of trust – not just algorithms - to find local service providers. It works like this:

1. Member A has a need for service
2. Member A searches YouGottaCall.com for local Business Members that provide this service
3. Member A locates a Business that is trusted by connected Member B
4. Member A buys from Business

And – bonus steps:

5. Business automatically knows that referral was made by Member B
6. Business pays a voluntary reward that goes to Member A’s and B’s designated charities.

YouGottaCall.com’s patent pending process is a Connection Engine (Connect-gine™) that amplifies our social connections to improve our ability to find trusted, local service providers. For an illustration, view our slideshow.

Our vision at YouGottaCall.com is to “Reward the community by empowering trusted relationships.” We:
• enable consumers to share valuable information;
• reward trusted businesses with high quality referrals; and
• support not-for-profits in their missions to benefit the community.

Your input and involvement is welcome as we grow our test market in greater-Hartford, CT. If you’re in Connecticut, please feel free to get your Connect-gine™ started today. If not we hope you will be patient until we’re operating in your region.

Please feel free to comment or contact us.

- - Tim

Wednesday, October 3, 2007

Word-of-Mouth the Most Powerful Selling Tool


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Nielsen Global Survey - Press Release: Word-of-Mouth the Most Powerful Selling Tool:

Traditional Media Advertising Still More Credible Worldwide Than Ads on Search Engines, Web Site Banners and Mobile Phones

New York, October 1, 2007 - Despite an ever-expanding array of advertising platforms and sources, consumers around the world still place their highest levels of trust in other consumers, according to a recent global Nielsen Internet survey.

Conducted twice-a-year among 26,486 internet users in 47 markets from Europe, Asia Pacific, the Americas and the Middle East, Nielsen most recently surveyed consumers on their attitudes toward thirteen types of advertising - from conventional newspaper and television ads to branded web sites and consumer-generated content.

"Advertisers around the world are able to reach consumers across an increasingly diverse range of media platforms," said David McCallum, the global managing director for Nielsen's Customized Research Services. "Even so, the recommendation of someone else remains the most trusted sources of information when consumers decide which products and services to buy. And even though new media technologies are playing a role in ‘globalizing' society, many purchasing decisions are still based on firmly held national and cultural attitudes. Furthermore, given that nothing travels faster than bad news - with estimates that reports of bad experiences outnumber good service reports by as many as 5:1 - the importance of responsive, high quality customer service is yet again highlighted."


Wednesday October 3, 2007 - 06:26am (EDT)

Saturday, March 18, 2006

My Take on unimaginative B2C word-of-mouth start-ups

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Brannon also offers small businesses a unique advertising capability. For just $125, businesses get a unique ID to pass out to valued customers. Customers then log in and post comments about the service they received.

Each company receives 12 keywords for the search function, allowing customers to specialize. Also, each company Web page lists the company's site, contact information and rates the company based on customer referrals.

Original article byLaura Braverman as it appeared in the Cincinnati Business Courier.

My Take - There remains an obvious gap to be closed before this concept can become the perfect viral marketing engine! Contact me if you have some programming bandwidth or vc.

- - Your Frustrated Editor

Saturday March 18, 2006 - 01:45pm (EST)

Monday, February 13, 2006

... and MORE Word of Mouth news

Press release me2umarketing.com:

Word of Mouth Marketing Service Opens in Portland, Oregon: Financial News - Yahoo! Finance

Friday January 13, 2006 - 03:59pm (EST)

Editor's update (2/14/2009): me2umarketing.com's site is down.

Any word on their status?

Friday, January 13, 2006

Word-of-mouth marketing firm BzzAgent wins second-round funding

Word-of-mouth marketing firm BzzAgent wins second-round funding - 2006-01-13
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"Word-of-mouth marketing firm BzzAgent Inc. in Boston has received $13.75 million in a second round of venture capital funding from co-lead investors General Catalyst Partners in Cambridge and IDG Ventures Boston, the company announced Friday."

As article appears in the "Boston Business Journal" Friday, January 13th, 2006

Friday January 13, 2006 - 03:54pm (EST)

Wednesday, January 11, 2006

Making "Word of Mouth" work on the Internet???

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As read on the Austin Business Journal January 11, 2006

Internet marketing company collects $4M - 2006-01-11
Bazaarvoice remains in "stealth" mode, but founder and CEO Brett Hurt says the company competes in an emerging sector known as "word-of-mouth marketing." Hurt, a founder of online-analysis software provider Coremetrics Inc., says Bazaarvoice will give companies the power to tap one of the oldest forms of marketing -- telling friends and family what they like and don't like.

Wednesday January 11, 2006 - 04:13pm (EST)