eWOM refers to any positive or negative statement by potential, actual or former customers about a product or company, made available to a large number of people and institutions via the Internet. The huge increase in online shopping, combined with the value consumers place on peer experiences, makes it more important than ever to understand which factors in eWOM are decisive in influencing customers’ intentions to buy products and services online.
Since the birth of the Word Wide Web 30 years ago, tremendous changes have taken place in the way people communicate. The Internet has created a social and cultural environment in which information can be easily shared. In addition to being a source of information, the Internet also became a shopping platform. Numerous companies have opened webshops, some of which do not sell through physical stores, but exclusively through the Internet. Over time, the Internet became an increasingly important source of information where individual consumers shared their personal experiences with products and services and/or offered their consumption-related advice. This type of digital communication is called Electronic Word Of Mouth (eWOM). eWOM refers to “any positive or negative statement by potential, existing or former customers about a product or company, made available over the Internet to a large number of people and institutions.” eWOM is more persuasive and desired by consumers than information generated by marketers and is important in persuading consumers to try products.
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Research has shown that eWOM affects consumers’ intentions to buy products online and the sale of a product both positively and negatively. Research findings have confirmed that product-related eWOM influences buyers’ attitudes, intentions and behavior, as well as omnichannel purchases. The effectiveness of eWOM is in line with longstanding theories in the behavior change literature, such as Fishbein & Ajzen’s theory of reasoned action. This theory aims to explain that subjective norms, such as social influence and eWOM recommendations, have an influential influence on a person’s attitude or behavior. Understanding the impact of eWOM messages is therefore of considerable importance, as they affect both business performance and customer relationships.
Now that you know what eWOM is, we hope you get an idea of how important it is to encourage your customers to post positive content about your business. Say goodbye to traditional online marketing, eWOM is taking over!