Sunday, March 4, 2012

Marketing Buzz

Marketing buzz

Or simply buzz — a term used in word-of-mouth marketing — is the interaction of consumers and users of a product or service which serves to amplify the original marketing message, a vague but positive association, excitement, or anticipation about a product or service. Positive "buzz" is often a goal of viral marketing, public relations, and of advertising on Web 2.0 media. The term refers both to the execution of the marketing technique, and the resulting goodwill that is created.

The term "buzz marketing" originally referred to oral communication but in the age of Web 2.0, social media such as Facebook and Twitter are also being used to create marketing buzz.

Buzz marketing works because individuals are easier to trust than organizations that may be perceived to have vested interests in promoting their products and/or services.

Buzz Monitoring

Buzz monitoring is the keeping track of consumer responses to commercial services and products, to establish the marketing buzz surrounding a new or existing offer. Similar to media monitoring it is becoming increasingly popular as a base for strategic insight development alongside other forms of market research.

Buzz monitoring involves the checking and analysis of myriad online sources such as internet forums, blogs, and social networks. Data can be provided in real time, which means that critical issues can be picked up instantly. It is also comparatively inexpensive compared to other market research tools and can actually guide further product and service developments.Influence is a key question in buzz monitoring – does this particular person and/or this particular piece of content matter and is it influencing others? Hence, the influence of a source is an important buzz monitoring metric that should be benchmarked.

Buzz monitoring is implemented by businesses for a variety of reasons, namely to improve efficiency, reaction times and identify future opportunities. Insights gained can help guide marketing and communications, identify positive and negative customer experiences, assess product and service demand, tackle crisis management, round off competitor analysis, establish brand equity and predict market share.

Red Bull - A Reference of Marketing Buzz

Red Bull has avoided usual methods of marketing, relying more on what is called 'buzz marketing' or word-of-mouth. A brand image was created and cultivated which associated the drink with youth culture and extreme and adventure-related sports, such as motor-sports, mountain biking, snowboarding and dance music parties.

Some observers say that Red Bull's branding is revolutionary, calling it an 'anti-brand' strategy.

In the following video, some of the extreme sports activities where Red Bull is present to develop its marketing buzz activity:

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