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In this digital age, the power of word-of-mouth is more critical than ever. The influence of online reviews and recommendations has grown exponentially with the advent of social media.
But how can companies make use of these new channels? Recent research into eWOM (electronic word-of-mouth) shows that there are significant opportunities for businesses to engage with their customers in a conversation about their products or services.
What is electronic word-of-mouth (eWOM)?
Electronic word of mouth (eWOM) is a new way for consumers to communicate with each other about products and services. It is also known as "viral marketing".
eWOM often occurs when people discuss their experiences with your product or service directly with friends, family members or coworkers. You can harness this natural inclination by designing your campaigns so that they encourage people who use your products or services to tell others about them.
eWOM is a great way to create positive word of mouth about your products or services, but it can also be a vehicle for negative comments as well. It's important that you monitor what people are saying about you and your business so that you can respond quickly if needed.
What Are The Drivers of eWOM?
Social media has opened up a whole new world of communication. It allows you to connect with people you've never met in real-time and from anywhere in the world.
This is why social media has become so popular: it offers the ability to share information with a large number of people, as well as being able to share information in real-time and with people who have common interests.
eWOM is another way to take advantage of this technology by reaching out via social media platforms like Twitter and Facebook.
It allows various platform users to have an opinion about a common interest. That's what makes it powerful.
While WOM is "word of mouth” marketing, which means that it's the act of getting people to talk about your brand or product without any prompting from you, eWOM is a way to get people talking about your brand on their own accord.
The Three Stages Of eWOM
The three stages of eWOM consist of creation, exposure and evaluation. The creation stage focuses on the production of eWOM and the sender's role in sending out the message.
In this stage, the sender decides what information to send, who will receive it and how they will do so.
The exposure stage involves how and when the receiver becomes aware of the message sent.
Finally, evaluation is when both parties take into account the information exchanged during these two stages—the sender evaluates whether their message was effective, and the receiver evaluates if the sender's message has influenced their decision-making process.
eWOM is a fast-growing channel of communication that is set to become even more popular in the future.
eWOM within the marketing context is more likely to provide more value to a company and thus deserves more management attention.
However, companies need to place the proper focus on eWOM based on the different types of information and consider various structural elements of an eWOM system.
eWOM is an integrated, interactive approach. Traditionally, companies sell products or services, and communication departments encourage people to tell others about it in the hope that word will spread enough to create a viral campaign.
With eWOM, companies use this same strategy, but they prompt customers to broadcast their message online. By using online channels such as Twitter and Facebook, a customer can easily reach hundreds of friends and thousands of followers within seconds.
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