News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
ForeSee launches WOM measurement tool
A new tool out from ForeSee takes Net Promoter Scores (NPS) to another level by incorporating word of mouth. Called the Word of Mouth Index (WoMI), the solution offers deeper measurements of WOM channels so that brands have a better grasp on customer loyalty.
According to Foresee's research 'traditional' NPS measurements aren't accurate enough because they do not measure between active and passive word of mouth. Because a customer is satisfied, for example, does not mean they will encourage their friends or social networks to try a brand/product.
"More than a decade ago, NPS was introduced as a metric that has been used to focus organizations around the customer and help executives track customer loyalty with a single number. Yet, it doesn't accurately represent negative word-of-mouth, and it's not an actionable metric or a predictor of growth," said Larry Freed, chief executive officer of ForeSee. "As customer metrics evolved along with social media and methods for spreading word-of-mouth, NPS hasn't kept pace with today's ecosystem that includes customer megaphones such as Facebook, Twitter and Yelp. WoMI is the evolution of NPS, offering a more precise analytic measure to address the sophistication of customers and provide today's businesses with an accurate number that works within a system of metrics to improve bottom-line results."
ForeSee has tested the solution over the past 18 months with nearly 300 companies. Their research found that other methods of NPS may overstate those consumers who might be brand detractors by over 250% (average).
Through WoMI brands can measure both the likelihood of a consumer recommending a brand and the likelihood that a consumer will detract from the brand.
- Study: Mobile users want home screen options
- What's a CDO and why does your brand need one?
- Report: In social the ladies rule the world
- Research reveals consumers juggle multiple devices throughout the day
- Getty Images makes millions of images free to embed
- Americans abandon purchases in-store after 8 minutes waiting in line
- Euclid: February sales less than lovely
- How BrightTag re-engaged shoppers
Featured White Papers
- Mobile Marketing: The Time is Now
Consumers are now more comfortable using retailers' mobile applications that can help them find specific products and brands, or just...
- The Definitive Guide to Marketing Automation
Why is marketing automation so hot right now? This guide will show you what marketing automation is and how it...
- The Inbound Website: Getting Found with SEO & Social
Extend your inbound marketing strategy to your entire website with actionable tips and best practices that help you increase visitors,...
- 17 Ways to Build a Great Brand Today
This white paper highlights 17 developments that are influencing brand-building today and what great brands are doing about them....
- How to Stop Webpage Speed from Killing Your Marketing
Your website visitors have high expectations about how quickly your web site should load on their desktop and mobile devices....