The results from the State of WOMM survey published recently and I thought it would be fun to share a few points on the Apartment Hacker Blog:
Get report here
Spending on word of mouth marketing is modest, but growing fast.
– Online social media is a major spending area according to 26% of marketers and “offline word of mouth” is a major spending area for 21%, well behind customer service (54%), email marketing (40%), customer relationship management (39%) and digital advertising (36%).
Few companies rate themselves as “Advanced” in WOM marketing
– Even among “Innovative” Companies, Only 40% Rate Themselves as Above Average or Advanced in WOM Marketing. I don’t believe we have truly seen the power of WOM in the multifamily space. I do think that a number of companies have made inroads and done some really cool stuff but we have not seen the knock-it-out-of-the-park type results that companies in others spaces have seen.
It’s coming; there is a groundswell out there and one day in the not to distant future; we will see some true WOM happen in the space.
Your looking forward to some off-the-charts WOM Multifamily Maniac, M
P.S. Have a compelling weekend…