The Value of Word of Mouth


	The Value of Word of Mouth

Amanda Mooney

5-8-2008 9:40 AM

254 views

tags:

word of mouth, marketing, communications, dr. walter carl, womma, coversation value model, chatthreads, amanda mooney

Add a Comment

Login to Comment. Not a member yet? Sign up

View the Top Clips from May 8, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b4cf5fd3-421c-4b4f-9a3d-0e4e423b615e/EFA99E3F-C85E-45F5-B509-7F4520EAF0C0/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://wom-study.blogspot.com/2008/05/introducing-conversation-value-model.html" href="http://wom-study.blogspot.com/2008/05/introducing-conversation-value-model.html" style="font-size: 11px;">wom-study.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://wom-study.blogspot.com/2008/05/introducing-conversation-value-model.html"><DIV>As mentioned in an <A href="http://wom-study.blogspot.com/2008/04/womm-u-bienvenidos-miami.html">earlier post</A> I'm speaking at WOMM-U today and tomorrow about WOM measurement and how to scale WOM programs. On the <A href="http://womma.org/wommu/agenda/">WOMM-U website</A> WOMMA bills my session as "Your CMO says: 'If I gave you X dollars more for WOM, what would I get?'"*</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://wom-study.blogspot.com/2008/05/introducing-conversation-value-model.html"><DIV>I've been working on this model with Dr. Barak Libai, who has been a visiting professor of marketing at MIT and a full professor at Tel Aviv's Faculty of Mangement (and also a fellow member of WOMMA's Academic Advisory Board).</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://wom-study.blogspot.com/2008/05/introducing-conversation-value-model.html"><DIV>The Conversation Value™ Model incorporates consumers' WOM behavior into a life-time value (LTV) model, which allows companies to quantify the bottom-line value of each conversation about a brand.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://wom-study.blogspot.com/2008/05/introducing-conversation-value-model.html">The value of each conversation, or "conversation value", is calculated by combining the life time value and WOM referral value and dividing this by the number of conversations with unique people.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/EFA99E3F-C85E-45F5-B509-7F4520EAF0C0/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>