Measuring WOM a new matrix
McKinsey Quarterly has an interesting story on how to measure word of mouth. Through a series of simple charts the McKinsey folks are trying to unravel the complex business of WOM and its role in consumer decisions. The first chart looks at what kind of media influence WOM the most. In the initial consideration stage, in the active evaluation of a product or service and at the moment of purchase, they say. The second one looks at the volume of impact of WOM. Elements like the intensity of WOM, how trusted is the person recommending a product, and what is the trigger for these messages. Even though it is still not clear if there is a way to measure and its true value, attempts such as these are important for new media to truly take root in many marketer’s annual operating plans. Read more on the McKinsey site.