Why word of mouth marketing?
- 91% of people would be likely to use a brand recommended by someone who has used it themselves
- Only 14% of people believe advertisements, whilst 90% believe endorsements from their peer and family groups.
After receiving WOM advice:
- 84% of people find the advice at least somewhat credible
- 74% at least somewhat likely to pass the message on
- 69% at least somewhat likely to purchase
We all know that word of mouth is the leading reason for why a product or service sells. All the ads in the world won't sell your product or service unless it's a) good and b) recommended and referred by people. Just take a moment to recall why you bought the last product you bought and the theory is explained.
With the advancement of social media technologies and a general passion amongst marketers to tap into the phenomenon, word of mouth marketing as a process and strategy is becoming a reality.
We are all now learning how to harness, amplify, and improve on these processes and understand that word of mouth marketing as a discipline is about learning and how to make it work within a marketing or sales objective.
Companies can work hard to make people happier, they can listen to consumers, they can make it easier for them to tell their friends, and they can make certain that influential individuals know about the good qualities of a product or service.
Word of mouth marketing empowers people to share their experiences. It's harnessing the voice of the customer for the good of the brand. And it's acknowledging that the unsatisfied customer is equally powerful.
All word of mouth marketing techniques are based on the concepts of customer satisfaction, two-way dialog, and transparent communications. The basic elements are:
- Educating people about your products and services
- Identifying people most likely to share their opinions
- Providing tools that make it easier to share information
- Studying how, where, and when opinions are being shared
- Listening and responding to supporters, detractors, and neutrals