The Daily Stat: Word of Mouth Matters a Lot to Consumers

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile JULY 19, 2010 Word of Mouth Matters a Lot to Consumers Word of mouth is no longer just an intimate act: Consumers post product reviews online and disseminate opinions through social networks. McKinsey research indicates that in developed markets, word of mouth has its biggest impact when consumers decide which products to consider and when they're actively evaluating products — at those moments, 18% and 19%, respectively, see it as the single most important factor influencing them. In developing markets, WOM is most significant at the moment of purchase (46%). In both kinds of markets, word of mouth is the only factor that ranks among the top three at every stage. Source: A new way to measure word-of-mouth marketing Copyright © 2010 McKinsey & Company. All rights reserved. Reprinted by permission. Share Today's Stat: RELATED PRODUCT How Valuable Is Word of Mouth? Harvard Business Review Article The customers who buy the most from you are probably not your best marketers. What's more, your best marketers may be worth far more to your company than your most enthusiastic consumers. ADVERTISEMENT Follow the Stat: BEST SELLERS Guide to Persuasive Presentations HBR's 10 Must Reads: The Essentials Financial Intelligence Collection HBR's 10 Must Reads on Managing Yourself Guide to Better Business Writing PREVIOUS STATS Blondes — and Their Husbands — Earn More Chilly Offices Limit Productivity More Consumers Labeled as High Credit Risks The Slim Wages of U.S. Pro Soccer Eurozone Execs Report Slow Recovery Economics Degree Is Best Route to CEO Job Wal-Mart Goes All Out to Battle $7,000 Fine World Cup Ball Gives Adidas Top "Share of Buzz" More Dads Become Primary Caregivers Whistle-Blowers' Impact Depends on the Press Job Seekers, Take Note Whether you've been laid off or are considering a job change, HBR's Guide to Getting a Job will help ensure that your next move is the right one. Only $19.95. Buy now » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "The Daily Stat" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2010 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)