WOMM best practices: The art of rewarding one's advocates

12/11/2012 | Fourth Source (U.K.)

Some recent marketing reports have suggested that word-of-mouth marketing influences between 20% and 50% of all sales. But while the effectiveness of WOMM is becoming increasingly clear, many companies are struggling to figure out "how or even whether to reward consumers for word-of-mouth sales and leads," Dan Cohen writes. Among Cohen's recommendations: Invite online shoppers to act as "micro-affiliates" and reward them with discounts for boosting brand traffic. Give proper credit to any third parties who help you lift sales. And above all, be transparent about your marketing tactics.

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Fourth Source (U.K.)

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