People trust word-of-mouth marketing. They believe bloggers and social media reviews, just because they have a feeling that they are getting honest opinions from real users. That is why more and more brands are eager to promote themselves through this new media. But the referee is set to enter in to this scenario to monitor the Blogosphere.
The Federal Trade Commission (FTC) plans to monitor viral marketing and blogs which are engaged in brand endorsements. The FTC is set to monitor the word-of-mouth marketers and bloggers, as well as people on social-media sites such as Facebook. They will be held liable for any false statements they make about a product they’re promoting, along with the product’s marketer.
This could present a significant issue for marketers, including the likes of Microsoft, Ford and Pepsi, who spend billions on word-of-mouth and social media. But there are some others who believe that this move will bring more credibility to word-of-mouth and social-media marketing.
Via: Adage
