The ROI of WOM: A first look at “WOMMA’s Return on WOM” Brand Data Study | Ruth Ogbeab
As a winner of the Social Media Week annual Scholarship Program, today I had the opportunity to attend Social Media Week, which runs from February 23rd to 27th 2015 at Highline Stages. My first session was "The ROI f WOM: A first look at "WOMMA's Return on WOM" Brand Data study. What is the true value of word-of-mouth (WOM), online and off, relative to other marketing and media? In 2014, the Word of Mouth Marketing Association (WOMMA) gathered some of the world's leading brands and researchers and launched "Return on Word of Moth," a landmark study to finally answer these questions:How much of a brand's sales are driven by WOM? Does WOM amplify marketing and, if so, by how much? How do the impacts of online and offline WOM compare? What are the best practices for including WOM in the marketing mix models? How do WOM and paid impression compare in their power to drive sales? Participating Brand and Research Pa