For today’s topic I choose to go through something that is going to blast in the following years. This is however not my conclusion and it is not only connected with Balkans. Anyway, whilst googling and browsing I noted that general public is not that much aware of existence of hiden power in the shadow – Word of Mouth Marketing (WOMM). In its essence WOMM is any communication, discussion, engagement about product/service between the consumers which is not directly stimulated by the companies and therefore has far influential and trustable consequences.
So far, scholars and marketing practitioners have acknowledged Word Of Mouth as a key driving force behind the success of new products/services and more generally for an effective firm communication over time. Long time WOMM has been neglected (or at least it looks like that) from the side of science, which directly caused huge gap and scarcity in the WOMM background theories which we are facing today. Although promising steps are taking place recently there is huge room for development and research. For instance Word of Mouth Marketing Association (WOMMA) has been established only few years back.
On the other side, we are all witnessing massive and unprecedented social media expansion, especially in last ten years. Such a rapid and viral development has not been recorded so far in marketing world. Some of the advantages of social media (besides its viral and somewhat open source features etc.) could be listed as follows: free of charge or easily affordable, it is extremely popular, viral passing of all sorts of information etc. This is definitely not exhaustive list.
However, technological advance over time has severely influenced WOMM marketing as well. This primarily bearing in mind appearance of few widely spread and influential media so-called social networks (e.g. Facebook, Twitter, LinkedIn etc.) that further may be employed by any individual or company in exchange for decent and easily affordable resources. Nowadays it is of crucial importance especially for small and medium enterprises to dedicate certain portion of marketing budget in order to exist on social media and to influence the audience in an appropriate manner.
Proper combination of WOMM on one side and social media on the other, could make company easily recognizable. Both conspire in creating astonishing waves of positive buzz online which is tremendously cheaper than conventional marketing advertising channels.
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