 Market research firm Compete recently published “Embracing Consumer Buzz Creates Measurement Challenges for Marketers.”
The report has some interesting stats: Not only are consumers influenced far more by consumer-generated content (71%) than by information coming directly from brand advertisers and marketers (35%) when making purchasing decisions, they have a major viral effect on other buyers: 68% influence friends and family post-purchase, magnifying the overall impact. Image: Neilsen Buzzmetrics - shows recommendations from consumers is the most trusted source of content at over 80% Other findings: 51% of auto and travel buyers turn to consumer generated media to narrow their purchasing decision, nearly one quarter say that consumer review sites influence their purchase decision; and 24% change their mind about the type of vehicle/travel reservation they end up purchasing as a result of CGM influence. “CGM is money in the bank for marketers who know how to tap into the new currency around CGM,” said Cynthia Stephens, director of marketing at Compete, Inc. “Marketers will need to go beyond buzz-tracking tools to analyze and connect with in-market consumers in a new landscape. Companies that follow this course have nothing to fear about losing control of the marketing message.” If you encourage consumers to write reviews and comments on your site, you should syndicate this content in an RSS feed. You'll reach a wider audience with influential content that shapes buying decisions. | 
