Legal Research

"Word-of-Mouth Marketing Will Recruit New Clients"

This post was written by Larry Bodine: "Clients referred by word-of-mouth recommendations will produce more profit, stay longer with the firm, and have a longer customer lifetime, according to a new study "Referral Programs and Customer Value" by marketing professor Christophe Van den Bulte of the Wharton School.

'There's a lot of talk about word-of-mouth-marketing, and about making money out of social connections. Our first objective was to see if customer referral programs can indeed turn social capital into economic capital. Second, we wanted to come up with a methodology to assess the effectiveness of customer referral programs that was easy to implement with data and tools available to many managers.'"

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Source: Law Marketing Blog, 26 July 2010. © 2010, Larry Bodine Marketing. Reproduced with permission of the author.

Full post as published by Stark County Law Library Blawg on July 28, 2010 (boomark / email).