For those of us who have businesses in SoWal (rentals, restaurants, etc.), here's some interesting research from ad age daily.
March 20, 2006
QwikFIND ID: AAR49N
By Ken Wheaton
Word of (bad) mouth
While word-of-mouth marketing is lauded as one of the next big things, The Verde Group and Wharton have teamed up to point out the bleeding obvious. Word of mouth can cut both ways:
"Results of The Retail Customer Dissatisfaction Study 2006 -- conducted by The Jay H. Baker Retailing Initiative at Wharton and The Verde Group, a Toronto consulting firm, in the weeks before and after Christmas 2005 -- show that only 6% of shoppers who experienced a problem with a retailer contacted the company, but 31% went on to tell friends, family or colleagues what happened. Of those, 8% told one person, another 8% told two people, but 6% told six or more people. 'Even though these shoppers don't share their pain with the store, they do share their pain with other people, apparently quite a few other people,' says [marketing professor Stephen J.]
Hoch."
Here's a summary of the study with more information.
http://www.newswire.ca/en/releases/archive/March2006/10/c0764.html
And, of course, to support our businesses we can spread good word of mouth when we have a great experience in SoWal; give businesses a second chance (every business has a bad moment sometimes); tell the business owner/service provider about the experience directly so they have a chance to fix the problem and thank you for your concern about their business. I had a boss once who used to say that all feedback -- even negative feedback -- is a gift (within reason, of course) when given tactfully and with good intentions.
And it's great for local businesses to be on SoWal.com so they can hear the buzz about what's going on in the neighborhood!
March 20, 2006
QwikFIND ID: AAR49N
By Ken Wheaton
Word of (bad) mouth
While word-of-mouth marketing is lauded as one of the next big things, The Verde Group and Wharton have teamed up to point out the bleeding obvious. Word of mouth can cut both ways:
"Results of The Retail Customer Dissatisfaction Study 2006 -- conducted by The Jay H. Baker Retailing Initiative at Wharton and The Verde Group, a Toronto consulting firm, in the weeks before and after Christmas 2005 -- show that only 6% of shoppers who experienced a problem with a retailer contacted the company, but 31% went on to tell friends, family or colleagues what happened. Of those, 8% told one person, another 8% told two people, but 6% told six or more people. 'Even though these shoppers don't share their pain with the store, they do share their pain with other people, apparently quite a few other people,' says [marketing professor Stephen J.]
Hoch."
Here's a summary of the study with more information.
http://www.newswire.ca/en/releases/archive/March2006/10/c0764.html
And, of course, to support our businesses we can spread good word of mouth when we have a great experience in SoWal; give businesses a second chance (every business has a bad moment sometimes); tell the business owner/service provider about the experience directly so they have a chance to fix the problem and thank you for your concern about their business. I had a boss once who used to say that all feedback -- even negative feedback -- is a gift (within reason, of course) when given tactfully and with good intentions.
And it's great for local businesses to be on SoWal.com so they can hear the buzz about what's going on in the neighborhood!
