Word-of-mouth (w-o-m) marketing has grown exponentially in recent years, as companies try to create buzz about their products and services using viral videos, and online social communities such as Myspace and Twitter.
PQ Media reports that $1.54 billion was spend on w-o-m marketing in 2008, and predicts that will increase by more than 10 percent despite the recession. Companies see the exceptional value that this type of marketing has over more traditional efforts.
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