Why are so many brand categories woefully bad at word-of-mouth?
According to a new study from Engagement Labs, an estimated 19 percent of consumer sales are now driven by offline and online social conversations. But many retail categories are failing to capture much WOM (word-of-mouth) buzz.
The study, conducted in conjunction with Koen Pauwels, professor of marketing at Northeastern University and BI Oslo, determined that 10 percent of consumer sales are attributed to offline conversations (face-to-face) versus nine percent to online conversations (social media).
However, the study of 170 brands, as well as more detailed analytics on 21, found that certain categories benefited much more from WOM. Tech products were far in front with 29 percent of sales in that category driven by WOM, made up of 15 percent offline conversations and 14 percent online.
Read the full RetailWire article, here.
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