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WOM refers to the informal communication between consumers about products or services.

Consumers often perceive WOM as more credible and trustworthy than traditional advertising.

Negative WOM can deter potential customers and damage a brand's reputation.

Positive WOM can increase trust in a brand or product, influencing purchase decisions.

WOM can accelerate the adoption and diffusion of new products in the market.

eWOM includes online reviews, comments, and social media posts, having a broader reach than traditional WOM.

Studies have quantified WOM's impact, showing it can significantly affect sales and market share.

The spontaneous nature of WOM makes it less predictable and controllable by marketers.

Social media amplifies WOM, allowing messages to spread faster and farther than traditional word-of-mouth.

Various metrics, such as Net Promoter Score (NPS), track the effectiveness of WOM.

Positive WOM can increase the CLV by attracting and retaining more loyal customers.

Information shared through WOM has the potential to 'go viral', influencing vast audiences quickly.

Micro-influencers have reshaped WOM by providing more niche and targeted recommendations to engaged audiences.

WOM is heavily influenced by peers; consumers are more likely to trust and act on recommendations from friends and family.

Positive WOM can help maintain momentum for a product throughout its life cycle stages.

Companies must actively address negative WOM to mitigate damage and restore consumer trust.

Positive WOM can reduce price sensitivity, as consumers are willing to pay more for products with strong recommendations.

WOM may not reach all market segments equally, potentially missing non-communicative or isolated segments.

Consistently positive WOM can contribute to building and maintaining strong brand equity.