Measuring the impact of positive WOM can be challenging, but several metrics and methods can help:
Customer Surveys
Surveys can provide direct feedback from customers about their experiences and whether they would recommend your business to others. The Net Promoter Score (NPS) is a popular metric used to gauge the likelihood of customers recommending your company.
Online Reviews and Ratings
Monitoring online reviews and ratings on platforms like Google, Yelp, and social media can provide insights into customer sentiment. Positive reviews and high ratings are indicators of positive WOM.
Social Media Mentions
Track mentions, shares, and comments about your brand on social media. Positive interactions and mentions are strong indicators of positive WOM.
Referral Rates
If you have a referral program, track the number of referrals and the success rate of these referrals. This data can provide concrete evidence of positive WOM.
Sales Data
Analyze sales data to identify any spikes or increases that correlate with positive WOM activities. For instance, a surge in sales following a viral social media post or an influx of new customers from a referral program can signal the effectiveness of positive WOM.