Dr Michael Wu Ph.D. is Lithium's Principal Scientist of Analytics, digging into the complex dynamics of social interaction and online communities.
He's a regular blogger on the Lithosphere and previously wrote in the Analytic Science blog.
You can follow him on Twitter at mich8elwu.
Hello everyone. I wanted to give you a quick update about next week's webcast: Customer Community - Why It's the Holy Grail of Word of Mouth Marketing.
I will be presenting on this webcast with Prof. Barak Libai (MIT Sloan School of Management and the Leon Recanati School of Business, Tel Aviv University) and Sanjay Dholakia (Chief Marketing Officer at Lithium Technologies). The topic that we will be covering is, from the title, obviously centered around WOM marketing.
There is no doubt that WOM can be a very effective marketing strategy, but why isn't everyone using it? Dr. Ivan Misner, Founder & Chairman of BNI, claims that WOM marketing is the world's most effective marketing strategy. So why is it that many WOM campaigns don't seem to yield the results that they promise? In the webcast next week, you will learn why most WOM campaigns do fail, and best of all, how you can make them work. Furthermore, the relative ROI for WOM programs can be quantified. And we will show you exactly what you need to do to maximize your ROI.
When Dr. Misner made his claim about the effectiveness of WOM, he also qualified it by saying that WOM is the least understood marketing strategy. That is about to change. Recent research in the mechanism of WOM have revealed insights that give us a much better understanding of how WOM works and how it translates to monetary value or ROI. We will share this knowledge with you in the webcast. With case studies that demonstrate the success of this approach, we hope that you will have the ammunition to confidently confront those who still doubt the power or feasibility of WOM.
I hope this has whetted your appetite - so don't miss it! Hope to see you next Wednesday, February 17 at 9AM PST in the virtual world.
Illustration by Mario Vellandi
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