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Can you quantify the effect of “Word of Mouth”? Maybe you can.

Alain Thys over at Marketing Profs has come up with a workable formula that may help quantify the value of word of mouth effects on markets. A short but interesting read that may have wide implications for nearly everyone.

OK, OK, I can hear already hear the chorus of voices out there saying, “Who cares? After all, I’m not in marketing.” Well, my answer to you is two little words:

You are!

“Word of Mouth”, in my opinion, affects practically everything. Are you a job seeker? What about if you have an innovative idea? Looking for venture capital? Want your New Year’s Eve party to be the best ever? All of the above, and more, can benefit from a good “buzz”.

Getting people talking is a good thing, but don’t forget, it needs be the right kind of buzz. Take what steps you can now to manage the buzz about whatever YOU want to accomplish (you might want to review some of my previous posts on managing your internet presence).

The fact is, virtually ANY endeavor requires support from other people. In many cases, the more support, the more likely it is realized. No matter how good it is, without a huge amount of the right kind of buzz, NO endeavor succeeds. Manufacturers, marketers and people in the business world know this well. Remember the Sony BETA? New Coke vs. Classic?

Face it: you want something to happen? Start a buzz!

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