The Keller Fay Group (www.kellerfay.com) today released results from a survey of American consumers indicating that brands are a critical part of daily conversation.
The study was done using TalkTrack™, the first continuous monitoring system of all marketing-relevant conversations, providing nationally representative measures on word of mouth for every major consumer category and thousands of individual brands.
Here are some key findings:
- The average American discusses specific brands in ordinary discussion 56 times per week.
- 41% of conversations about brands involve a reference to advertising or something seen or heard in the media.
- Contrary to conventional opinion, nearly two-thirds (62%) of brand-related talk feature products in a positive light, while less than 1 in 10 conversations features products negatively.
Last week I posted on the Ratings “J Curve” where we are seeing more positive reviews than negative (by far) across all Bazaarvoice clients.The Keller Fay study reinforces our theory – people are more likely to spread positive word of mouth vs. negative
This more recent study conflicts with conventional wisdom (from a 1970’s study) that more people spread negative word of mouth than positive. At least as it relates to products – it may be accurate for more ‘emotional’ company experiences.
In my opinion, this finding (and perhaps trend) suggests that customers are SEEKING OUT products based on positive word of mouth. There are far too many products — mind-blowing choices for any category — for customers to choose from. This is only the beginning as we discover new ways for customers to find the best products to buy by learning from each other. And for me, it's exciting, because the best products will win in the market. The retailers who will win are ones who understand that the way to be the best 'editor' of products in their category is to help their customers do it for them!