Study suggests targeting business executives for marketing brands
A recently conducted study by the Kelley Fay Group, sponsored by Jack Morton Worldwide, pranced into the business world of marketing and the facets of business to business (BtoB) and business to consumer (BtoC) conversations. Top in the list of the study’s findings is that “word of mouth” marketing is the topmost influence on business buying decisions.
In fact according to the study, when one business executive shares marketing relevant information with another executive, such a means has been far more effective for the business ranks than any other communication channel available to them.
The report found that 50% of business executives claimed they would more likely by a product or service based on word of mouth, while around 49% will just pass the word on to others. According to them, person-to-person information sharing has twice more influence than that of advertising.
Click on Full Article for more findings and suggestions of the study.
A recently conducted study by the Kelley Fay Group, sponsored by Jack Morton Worldwide, pranced into the business world of marketing and the facets of business to business (BtoB) and business to consumer (BtoC) conversations. Top in the list of the study’s findings is that “word of mouth” marketing is the topmost influence on business buying decisions.
In fact according to the study, when one business executive shares marketing relevant information with another executive, such a means has been far more effective for the business ranks than any other communication channel available to them.
The report found that 50% of business executives claimed they would more likely by a product or service based on word of mouth, while around 49% will just pass the word on to others. According to them, person-to-person information sharing has twice more influence than that of advertising.
Also, the study suggested that business executives have a high probability of influencing other people, as they talk about brands and recommend them more than the general public. Not surprisingly, the study recommends that marketers take advantage of this executive edge and turn business executives into targets for BtoC marketing.
Ed Keller, CEO of the Keller Fay Group, commented, “They should reach out to business executives as influencers and ‘passionates’ for their brands and think of them as another channel for brand-building.” For the consumer electronics and home entertainment industry, the following brands have been reported by Keller Fay’s TalkTrack to have the highest share of positive conversation or positive TalkTrack among U.S. executives:
Conclusively, the study also suggested that the “word of mouth” marketing would also improve in effectiveness when used in conjunction with face-to-face conversations, to encourage firsthand experience sharing.
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