Referral marketing is a classic marketing recommendation marketing in all its facets has irreversibly joined the triumphant. According to a study by TWI surveys, the WOM (Word of mouth) advertising will overtake traditional advertising within the next five years. According to a survey of the economic magazine Inc. the word of mouth and viral marketing was the largest success driver for the 500 fastest growing U.S. companies in 2006. \”It was on the question: how are your products advertised or marketed?\” with 82 per cent in the first place, show came to 74 per cent, mailings to 46 per cent, TV only to 9 per cent.
Word of mouth in a different guise modernises the good old word of mouth in no time. Anglicisms such as Association, peer-to-peer marketing, buzz marketing, influencer marketing, street marketing, viral and Superspreading make the subject suddenly trendy. Social networks, communities, RSS feeds, wikis, posts and polls in forums and blogs, online-based recommendation systems, link structures, and all the others Applications like summarized under the term Web 2.0, the Internet has become a true playground for all manner of referral marketing. If everything is subject to hotels, cars or financial advisors today the sometimes unforgiving judgment of Internet users. Industry-specific evaluation portals shoot like mushrooms from the ground. Recommendations via the Web money can be properly earn.
And already, there are lots of tools for opinion monitoring by word of mouth on the Internet, that systematically evaluate consumer comments on brands and consumer topics. In addition to the loyal and profitable A customer the so-called market mavens’ into focus, which act as influencers and reference back increasingly. Their judgment influenced the buying behavior of whole groups. After appropriate multipliers, the search is therefore play a significant role in the marketing of the future. Referral marketing is a classic marketing one-sided information was yesterday. At the time, the power was even with the vendor.