Are you aware that according to Invespcro, Word of Mouth Marketing drives $6 trillion of annual consumer spending?
In fact, 64% of marketing professionals consider word of mouth marketing as the most effective form of promotion.
People, nowadays, are 90% more likely to buy your product, if it is recommended by a close friend or a family member.
All these facts prove that Word of Mouth Marketing is the most valuable source of marketing and it is crucial for the development of your business. But what makes WOM so successful and why it has such an influence on consumer’s perception?
This blog post will reveal the secret of WOM and how to take advantage of it.
As a whole, Word of Mouth marketing is an organic way of spreading information for your organization or a particular product. It consists of actions taken by a company, which results in triggering customers to talk about their brand spontaneously.
In general, user-generated content is the center of WOM. In other words, people share their product or service experiences online and offline with their network. This sharing of information creates a “buzz” for a product, service or brand, in general.
In fact, Word of Mouth marketing has existed for years and the concept of it has not changed. People have always talked about and shared their feelings, emotions and opinions with others. However, there is something different about this type of marketing today.
What has gone through changes and will continue to change in the future is the way people share information and the channels they use. While in the past Word of Mouth was limited and information travelled slowly and mostly on a local level, due to the digital revolution these days the reach of Word of Mouth successfully eliminates all restrictions of time and space.
Customers dominate Social media platforms today. More and more people are joining daily the online social space by creating their personal profile. Then, they start interacting, with people they know and admire. As a result, they spend a great part of their spare time scrolling through social media accounts.
It is not a surprise that advertisers follow customer, wherever they go, including social media. For companies, social media means greater audience reach and higher online traffic potential. In this way, brands can start connecting with customers, instead of collecting them.
Contrary to many beliefs, a certain product or service is not the main point of Word of Mouth. People do not talk and care about brands, they share their feelings, experiences and emotions. This is what makes Word of Mouth so credible and trustworthy. These feelings towards the brand are generated by an event or experience, which happened during the consumer’s journey.
Let’s look at an example, to make it simpler. Here is Carl:
Carl has recently purchased a new pair of sneakers. He is exceptionally satisfied with the product he bought. He likes the design and quality of the product and is impressed by the customer service at the shop.
Carl feels happy and loves wearing his new shoes. He even takes a photo of them and posts it as a story on Instagram.
This is Maria, she is a close friend of Carl and follows him on social media. She sees Carl’s story, which instantly gets her interest, because she is looking for a new pair of shoes as well.
Maria sends a direct message to Carl, wanting to know more about his opinion of this shoe brand. Her friend shares his highly positive emotions towards this company, which persuades Maria to buy a pair for her as well.
Consequently, just as Carl, Maria starts advocating for the shoe company as well. She writes a positive review on the company’s Facebook page and talks with her friends how satisfied she is with this purchase. So, it looks like Word of Mouth is all about trust, satisfaction and communication.
The more your company interacts with people, the more your brand name will be spread. Word of Mouth is an efficient and cost-effective way to advertise and it is a primary factor behind a great deal of purchasing decisions.
Word of Mouth is based on people and the dynamic of their communication. Because of that, it is hardly possible to be fully controlled and perfectly implemented, as it is not an exact science.
However, there are certain actions, which help your company in creating positive buzz about its products.
Every interaction with a customer is an opportunity to form a positive opinion about your company. It aims at building trust and proves you are available for them, whenever customers need you.
Today the overcrowded market has resulted in fierce rivalry among companies. It is easy for consumers to switch to competitors, if you make even the smallest mistake.
Your staff must be well-trained and competent, so that they can present the company in the best light. Give people a reason to think and talk positively about you.
Take advantage of social currency. It represents the degree to which people exchange information about the brand as part of their social lives. Be creative and interesting – people will only share content, which makes them look and feel good, content, which is worth talking about.
Creating value is closely related to creating emotions. People buy emotionally and justify it with logic. If you want your brand to be remembered, make people feel special, valued and carefully nursed.
A great way to combine all the methods described above is to add a human touch to your brand. Form a community and let people talk about you. Thanks to social media, this can be easily achieved by implementing Influencer Marketing strategy for your business.
Influencer marketing allows you to bring your brand closer to customers. Based on personally created content, influencers trigger a feeling of familiarity between them and their followers. Close relationship and intimacy between people and their peers form the new modern-day Word of Mouth Marketing, based on the exchange of information, opinions and recommendations.
Word of Mouth has always had the power to make or break a company’s success. However, with the increased social connectivity, it is even easier to let people promote you. Give people something to talk about, trigger discussions, which light passion about your business and products.