What Yale University and UC Berkeley can teach you about Word of Mouth Marketing

You wouldn’t be surprised to hear Buyapowa evangelizing how word of mouth is the most effective marketing there is because, well, it is. Of course, we’ve spent the last seven years perfecting what we think is the best enterprise referral marketing platform available, so we might be a little biased. But when two of America’s most prestigious universities, Yale and UC Berkeley, publish research on the effectiveness of word of mouth, we think that is worth a few moments of your time.

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Our latest guide to the most interesting things happening in the world of advocacy marketing

1. COVID-19 and its surprising effect on influencer marketing

It’s easy to assume with coronavirus forcing millions to stay home that social media and influencer marketing would be thriving. But, not even influencer marketing is immune to the huge cultural shift caused by the pandemic. In such serious times, creating culturally appropriate sponsored content can be a fine line to walk. Influencers risk looking oblivious if they carry on business-as-usual and insensitive if they try to incorporate the virus into their content. And, given the current economic climate, brands are reluctant to invest in strategies that may not pay off. In response to this change, top-tier influencers are lowering their rates in their quest for work, and micro-influencers are now going up against larger influencers for partnerships, creating competition that’s bad for influencers but good for brands. Meanwhile, some industry insiders are more optimistic: a new report from Influencer Intelligence revealed that spending on cheaper goods and luxuries usually increases during times of economic crisis. And, with online spending and social media use up, there’s no shortage of customers looking for entertainment and escape. So while influencers will have to deal with canceled events and limited content opportunities, the current situation could just spark a new wave of influencer creativity. Read the full article.

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