Has a friend been talking your ear off lately about a new product they’ve tried, or a new service they’re using? Have you been out to dinner with your buddies when one of them inexplicably begins gushing about his teeth whitening strips? It may not be a coincidence.
Your friends could be doing more than talking about these products - they might be promoting them. It’s all part of a new trend called “Word of Mouth Marketing,” and it is a trend that is starting to see growth.
A report released last week by Stamford, CT based PQ Media states that spending on word-of-mouth advertising leaped over 30% to $981 million in 2006. Forecasts show that number could top $1.4 billion this year, and double to $3.7 billion by 2011.
One of the bigger players in this arena is Boston-based BzzAgent, Inc. The premise of BzzAgent is simple - they recruit people to talk favorably about a company’s products. Although these agents are unpaid, they can receive special offers and discounts on the products they hawk, as well as receiving similar benefits to pass along to the friends that they are trying to sell the product to. BzzAgent capitalizes on the notion that people like to be “in the know” and will willingly gush about a product if they’re given inside information and offers about that product.
So the next time you think Uncle Charlie is a little too obsessed with his mouthwash choice - it may be for reasons besides the fresh minty tingle it leaves in his mouth.
1 comment so far ↓
In defense of BzzAgent, they do ask their participants to disclose that they’re doing advertising — in other words, they specifically ask their members NOT to pretend to be impartial.
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