According to Lauren Zalaznick, President of NBC Universal’s Women & Lifestyle Entertainment Networks, “Women talk about brands incessantly — about 92 times in the course of a week and research shows that 96% of women will recommend a product to a friend if she likes it.”
But how does this translate to the bottom line? Studies conducted by The Keller Faye Group, word of mouth specialists, reveal that 62% of women felt what they heard from others was credible and believable, and 51% said they would purchase something based on a conversation.
Guys, that is not just a whole lot of talk.
To better understand the impact that this data has on brands when merged with online marketing efforts, Women at NBCU have recently unveiled a Brand Power Index. This comprehensive monthly report analyzes women’s word of mouth behavior for 500 companies based on three layers of information:
The first monthly report released in late September revealed the top 25 brands that are most important to women. A few of the interesting highlights reveal:
Three of the seven product categories represented in the top 25 brands are traditionally thought of as male-dominated areas.
Brands that leveraged social media for promotions were some of the biggest movers in their standings from July to August. For example, Gap, which moved from #44 to #17
Brands participating in “cause” initiatives were among the biggest gainers for the month of August. For example, Olive Garden with its “Pasta for Pennies” campaign moved from #145 to #92.
Bottom line: When women talk, other women listen – and buy.
Top 25 Brands most important to Women in August 2010:
7. Bank of America
13. Dell Computers
15. Dish Network
24. Wells Fargo
25. Home Depot