Budgets lag to invest in influence building

By Robert Wheatley

This may not be surprising: A recent study published by Yahoo confirms the Internet is growing significantly as a source of influence for word-of-mouth conversations about brands.

According to the research, 38% of consumers, or 78 million people, have brand-related word of mouth conversations – both on line and off-line – that are influenced by content on the Internet. While most word of mouth conversations occur face to face, the Internet is increasingly important as a driver for those engagements.

That said, budgets and spending continue to show a disproportionate share aimed at communications through mainstream platforms in print and broadcast channels. While many in the marketing communications and PR world will admit they believe talking “at” consumers doesn’t work, and may also agree the most powerful form of communication out there is word of mouth, still spending aimed at cultivating influence on the Web is trailing.

So it goes without saying more assets should be shifted to managing online influence and reputation.

Of course this also puts more pressure on measuring the ROI. Yet social media is a different animal. It’s not about output and broadcasting messages. It is about listening, interacting and engaging on topics relevant to the consumer’s life. Does it work? Take a look at the video by Eric Qualman below:

What do you think?