By Simon van Wyk
In the same way that digital technology helped convert the world’s oldest profession into the booming global industry of Internet pornography, word of mouth, probably the oldest of all marketing techniques, has emerged as arguably the most powerful selling tool of the 21st century, thanks to the Internet.
Traditional advertising and marketing is in chaos as people turn their back on advertising messages and turn to recommendations from their friends, via social networking tools such as Facebook and Twitter, when deciding what products and brands to buy.
Businesses who can use online tools to cleverly and ethically leverage the power of word of mouth will be able to successfully make the transition from traditional marketing .
Word of mouth marketing online can even be a successful business model in itself. Yelp, a US-based service where people write reviews of restaurants and other local service providers, recently knocked back a US$500 million offer from Google to buy its business.
Justin Kirby, interviewed for this month’s HotHouse podcast, is the founder and CEO of both one of the UK’s first digital agencies and Australia’s word of mouth marketing firm Yooster, and is a globally recognised expert on word of mouth marketing.
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