WOFM the most trusted source!

I came across this and thought you all might find it compelling reading!

Nielsen marketing researchers have conducted a global survey recently to find out which of the advertising platforms in use today, including new media technologies, are most trusted by consumers. here are the summarised key findings....... What emerged from the survey was very revealing: while traditional media still makes its mark on consumers, the most powerful determinant behind purchasing decisions for a whopping 78% of respondents is word of mouth. Yes. recommendations from trusted sources, such as family members and friends, carries the most weight with consumers. And while WOM and all forms of advertising media impact vary from region to region, and country to country, the aggregate totals are very telling.

By the way, the report also takes pains to break down the information further, by continent and even by country. Another important fact emerges, also: new Internet-based media platforms may still lag behind traditional advertising media, but the gap is narrowing. However, respondents clearly show that traditional advertising still retains consumer trust.

Here are the aggregate rankings among the 13 advertising categories consumers were polled about:

1. Word of mouth recommendations, 78%

2. Newspaper advertising, 63%

3. Consumer opinions posted online, 61%

4. Brand websites, 60%

5. Magazines, 56%

6. Television, 56%

7. Radio, 54%

8. E-mail, 49%

9. Brand sponsorships, 49%

10. Ads before movies, 38%

11. Search engine ads, 34%

12. Online banner ads, 26%

13. Mobile phone text ads, 18%

The most compelling statements in the report were these by David McCallum, Nielsen's Customized Services' global managing director, when he stated: "Furthermore, given that nothing travels faster than bad news—with estimates that reports of bad experiences outnumber good service reports by as many as 5:1—the importance of responsive, high quality customer service is yet again highlighted." Proof once again that advertising efforts all combine to get the consumer's attention, but WOM, good or bad, has the power to sway and influence in a far deeper way.

So, how important is it to engage the consumer, and to deliver consistently good experiences? It might be as important as brand and corporate survival in an increasingly competitive marketplace. . . one in which consumers are increasingly exchanging information with each other. Many thanks