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2008: Word of Mouth Marketing and You!
In the three short years since WOMMA was founded, the word of mouth marketing industry has experienced amazing growth. This is true not only in dollars spent, but also in terms of its growing importance to marketers.
If you are already a WOMMA member, we urge you to become even more involved in the new opportunities that are emerging in the year ahead. If you are not yet a WOMMA member, here are just a few of many reasons to join with us and make certain that you are part of the thought, practice, and reputation leadership of this industry in 2008.
1. Word of mouth marketing is expanding dramatically and WOMMA is leading industry growth!
* At WOMMA's Word of Mouth Marketing Summit and Research Symposium in November respected research agency PQ Media released its groundbreaking report measuring the size of our industry. The report identified word of mouth marketing as the "fastest-growing segment of the $254 billion marketing services sector," and reported that, "Brand marketers are responding, and have begun to increase their WoM media budgets, moving from test phase to implementations that support their integrated marketing campaigns."
* In 2007, TWI Surveys Inc. projected that spending on social media and other forms of conversational marketing will surpass traditional media by 2012, with 81% of participating marketers indicating that their social media spending will soon surpass dollars spent on traditional ads.
* In fact, a growing number of studies have identified word of mouth marketing -- in both its online and offline forms -- as the most effective form of marketing. WOMMA is helping marketers understand the dramatic changes sweeping the marketing world and to better allocate budgets to reflect these changes. We are proud of the fact that WOMMA members are recognized as the leaders of this industry.
2. WOMMA is the world's primary resource for gaining the market intelligence, expert insights, and the kind of detailed knowledge you need to build effective programs for your own organization or clientele!
* WOMMA has created the world's largest network of top agency and brand strategists / practitioners representing a broad spectrum of industries. In 2008, this community will continue to grow as hundreds of additional senior executives join WOMMA from leading brands, PR and market research firms, and advertising and word of mouth marketing specialty agencies.
* WOMMA is now launching new councils for Brands (exclusive to brands, vendors cannot participate), Influencers, and Healthcare and Pharma. At the same time, the Research and Ethics councils will be pursuing updated agendas.
* WOMMA's Member Center, already the world's largest archive of industry information, is being dramatically expanded in coming months. As part of this effort, look for a new series of weekly teleconferences and podcasts featuring experts on subjects of interest beginning in February.
* Conference formats are being updated in 2008, featuring many new presenters working in highly collaborative and participatory formats that go beyond traditional conference models.
3. WOMMA creates exclusive opportunities for promotion and networking!
WOMMA is now dramatically expanding opportunities for members to promote themselves, highlight their accomplishments, and network with their peers.
* "The WOMMA Word" blog is being expanded to include a variety of new podcasts and posts on the hottest topics of the day, creating new and additional opportunities to share your expertise with audiences of decision-makers.
* A new initiative is being launched to expand opportunities with significant conferences and conventions through our Speakers Bureau.
* WOMMA just created our first international alliance with WOM-UK, and corporate representatives from nations as diverse as China, Japan, Brazil, Turkey, and others are now asking us to help them form WOM organizations that could ally with us.
And Thanks to Our Members ...
The earlier mentioned PQ Media study also reported that, " ... for the first time in the long history of WoM marketing, an industry has arisen by integrating strategy, technology and measurement from its earliest stages of development."
WOMMA is very proud of our role in founding this industry by marrying these categories with high ethical standards. Thanks to the support of our members, in just three short years, WOMMA:
* Built an industry that put word of mouth marketing on the map.
* Brought together hundreds of leading experts and practitioners through nine major WOMMA conferences, as well as small networking events and other conferences that we have co-sponsored.
* Evangelized and educated marketers regarding the power and benefits of word of mouth marketing programs.
* Led efforts to develop research standards necessary to effectively measure the results of WOM marketing programs.
* Developed a media referral program providing background information and linking reporters from mainstream media, trade press, and the blogosphere with industry experts.
* Published research journals and created various electronic publications reaching large audiences of corporate decision-makers.
* Drafted the ethics code to guide marketers employing consumer-centric WOM marketing strategies and tactics to engage consumers (efforts that have helped us build on a relationship with the FTC of which we are very proud).
* Created a Buyers Guide to help link our member agencies and specialty firms with companies seeking industry expertise and services.
* And much, much more!
There is no doubt that 2008 will be a great year for brands engaging in word of mouth marketing or agencies and specialty firms offering WOM marketing services and support.
This year, WOMMA pledges to bring this same drive, creativity, and commitment that we have brought to creating and building this industry, to ensuring that WOMMA members will be significantly advantaged in terms of informational resources, promotional opportunities, and chances to network with your peers throughout the United States and the world.
On behalf of WOMMA's board and staff, I thank all of our members for their past support and look forward to a great year working together!
Sincerely,
Peter C. Waldheim
Senior Strategist & Interim CEO
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