Have you ever wondered what your customers are saying about your company or your brands? If not…you should.
“Word of mouth” advertising is highly effective. It is often referred to as “the best advertising money can’t buy”. But beware! This highly impactful ‘advertising medium’ can just as easily generate a ground swell of negative perceptions, or misperceptions, about a company and its brands, as it can generate loyalty and enthusiasm among a target audience. The negative impact realized from the dissemination of negative communication is actually more influential than the impact realized from the dissemination of positive commentary.
The expression, “bad news travels fast” is well understood within the public relations industry. Within the past twelve months, there have been numerous instances where a company or individual has been faced with addressing the results of “negative press”. Chances are, these companies or individuals, incurred significant financial costs to eradicate, or at least calm the ground swell caused by the dissemination of negative chatter.
Thankfully, most of us will never face such situations or costs, especially, if we are continuously engaged in actively “listening” to the market, as the market routinely “grades” our performance. Yes, grades.
In effect, the market provides us with a highly reliable “report card”, that if addressed in an effective and timely manner, will ensure a “straight A” performance, time and again. In business, straight A’s mean sales, sales growth, and market share.
The first step in effectively managing word of mouth advertising is gaining a thorough understanding of the market’s current perception of your company and or its brands. Though many organizations initially find it difficult to open themselves up to potentially negative feedback, the world’s leading organizations routinely test market perceptions or “buzz”, in an effort to understand its foundation, and if necessary, modify strategic and or tactical plans accordingly.
Since 2002, 3S Consulting Group has been committed to assisting clients understand and quantify market perceptions. Please contact us today to learn more about our report card research process and how we can help you to attain a consistent “straight A” performance for your organization and brands.