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August 20, 2008 4:04:45 PM CDT

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$$$ Thrown at Buzz Drive Facebook's Beacon Plans

Posted Nov 30, 07 11:42 AM CST in Technology,  Arts & Living,  Business 

(Newser) – Facebook's efforts to fix its Beacon system show that talk isn't cheap, as marketers increasingly are finding it’s a great way to spread the word about their product. Word-of-mouth advertising has taken off, with nearly $981 million being spent on campaigns last year, a 36% increase from 2005, reports Ars Technica. Companies are now integrating WoM into every campaign.

With research showing 80% of consumers trust friends’ and family recommendations, social networking websites and chatrooms where consumers trade opinions on products have become so important that companies like Proctor & Gamble are buying WoM firms to help take advantage of the media. Critics, however warn WoM isn’t yet “the DVD that replaced the VCR."

Sources Ars Technica, TV Week

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Laura Handyside, clockwise from left, of Duluth, Peter Sparby, of North Oaks, Minn., and Kadian Hofstad, of Pine City, Minn., laugh while using a laptop to check facebook web pages of their friends.   (KRT Photos)
Talk is cheap, and a great way to create buzz about products.   (Magnum Photos)
John Young, left, takes his mother Sue Young, center, visiting from Grand Rapids, Mich., holiday gift shopping, looking at coasters made from vintage record labels, at street vendor stands on Telegraph...   (Associated Press)
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Facebook  • social networking  • advertising  • Beacon  • buzz


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