Word-of-Mouth Marketing on Social Media. Influence on Buying Decisions, Evolution and Recommendations for Companies

Table of Contents

1 Introduction: The Secret Ingredient to Reducing Consumer Risk

2 The Evolution of Traditional Marketing and Advertisement

2.1 Marketing Throughout the Years

2.2 Traditional Word of Mouth Marketing

3 From Paper to Screen – The Web and Its Impact on Marketing

3.1 The Developmental Stages of the Internet

3.2 The Web-Caused Changes to Society and Marketing

3.3 The Development Stages of Modern Marketing Before and After the Web

3.4 Marketing in 2017

4 Social Media – An Overview

4.1 Social Media Platforms Defined and Compared

4.2 Marketing on Social Media

5 E - Word of Mouth Marketing: Status Quo and Success factors

5.1 Electronic Word of Mouth Marketing on Social Media

5.2 Word of Mouth’s Most Promising Trend: Influencer Marketing

6 Key Takeaways, Recommendations and Future Outlook

Objectives and Topics

This bachelor thesis aims to analyze the origins, current status, and potential of electronic Word-of-Mouth (eWOM) marketing within the context of social media, while providing actionable strategies for businesses to integrate these findings into their marketing efforts.

• Evolution of marketing from traditional "telling and selling" to modern digital interactions.
• The impact of the Internet and Web 2.0 on consumer behavior and brand communication.
• Analysis of social media platforms as environments for Word-of-Mouth marketing.
• Evaluation of Influencer Marketing as a contemporary trend in Word-of-Mouth.
• Strategies for companies to leverage eWOM and Influencer Marketing to reduce consumer risk.

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Summary of Chapters

1 Introduction: The Secret Ingredient to Reducing Consumer Risk: Introduces the concept of consumer risk and establishes Word-of-Mouth as a crucial tool for reducing such risk in purchasing decisions.

2 The Evolution of Traditional Marketing and Advertisement: Traces the history of marketing from early trade to the traditional "telling and selling" approach and introduces traditional Word-of-Mouth.

3 From Paper to Screen – The Web and Its Impact on Marketing: Explores the development of the Internet and its influence on society, specifically detailing the shift toward horizontal, two-way communication.

4 Social Media – An Overview: Categorizes social media platforms and analyzes their unique characteristics, with a focus on Facebook and Instagram for marketing purposes.

5 E - Word of Mouth Marketing: Status Quo and Success factors: Analyzes the transition of traditional WOM to electronic WOM (eWOM) and details Influencer Marketing as a modern success factor.

6 Key Takeaways, Recommendations and Future Outlook: Summarizes the research findings and provides practical recommendations for companies to implement successful Word-of-Mouth marketing strategies.

Keywords

Word-of-Mouth Marketing, WOMM, electronic Word-of-Mouth, eWOM, Social Media Marketing, SMM, Influencer Marketing, Consumer Risk, Marketing 4.0, Content Marketing, Digital Strategy, Brand Advocacy, Customer Relationship, Social Media Platforms, Online Communication

Frequently Asked Questions

What is the core focus of this thesis?

This thesis examines how electronic Word-of-Mouth (eWOM) marketing has evolved and how it can be strategically utilized by companies on social media to build trust and influence consumer buying decisions.

What are the primary thematic areas covered?

The work covers the evolution of marketing, the shift from traditional to digital media, the role of social media platforms, the mechanics of eWOM, and the specific rise of Influencer Marketing.

What is the main objective of the research?

The objective is to analyze the status quo of eWOM and formulate recommendations for its successful integration into a company's overall marketing strategy.

Which scientific methods were applied?

The research is based on an extensive literature review of scientific journals, books, and industry reports, complemented by two expert interviews with professionals from the fashion and e-commerce sectors.

What does the main body of the work address?

The main body systematically progresses from the historical background of marketing and the Internet to a detailed categorization of social media, the mechanics of eWOM, and the specific practice of Influencer Marketing.

Which keywords best characterize this work?

Key terms include eWOM, Social Media Marketing, Influencer Marketing, Word-of-Mouth, Marketing 4.0, Brand Advocacy, and Digital Strategy.

How does this work differentiate between micro and macro influencers?

It distinguishes them by follower size, noting that while macro influencers offer wide reach, micro influencers often provide higher trust, better engagement, and superior conversion rates for targeted campaigns.

How is success in Influencer Marketing measured?

The thesis highlights various KPIs, such as reach, engagement, click-through rates, trackable links, and coupon code usage, depending on whether the primary goal is awareness or performance.

What is the future outlook for Influencer Marketing?

Due to increasing governmental and regulatory oversight, the thesis suggests that transparency (e.g., labeling sponsored content) is becoming vital, and companies must prioritize authenticity to maintain consumer trust.