25 Real Reasons
People are making decisions using peer-to-peer communications. By people, I mean, me and you as well. We all love to hear about a great product or service from a trustworthy source-someone credible and reliable.
Today, only very successful brands are boosting very real results using highly-effective and organic networks. This is easily measured against those in “what they do assuring that growth is either equivalent or better than what you could do using traditional media—25 years ago”.
There is far more to gain from developing a solid word-of-mouth (WOM) marketing strategy than any other advertising tool available today. You don’t have to believe me—I’ll prove it.
The truth and sharing opinion and reccos on and offline:
This is a partial list of some
of the deep market data
we have compiled for the
A Production Company Called Fishbeef.
84% completely trust recommendations (reccos) from family, acquaintances, friends about products and services. This makes “recommendations” the highest ranked source for trustworthiness. [Nielsen]
74% of consumers identify word-of-mouth as a key influencer in their purchasing decision. [Ogilvy/Google/TNS]
68% trust online opinions from other consumers, which is up 7% from 2007 and places online opinions as the third most trusted source of product information. [Nielsen]
88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts.
32% feel this way if they are presented with multiple customer reviews
30% give them equal trust when they believe the online review is authentic
26% say it depends on the type of business. [BrightLocal]
72% say reading a positive review will increase their trust in a business; it takes, on average, 2-6 reviews to get 56% of them to purchase. [BRIGHTLOCAL]
58% of consumers share (on Social Media) their positive experiences with a company, and ask family, colleagues, and friends for their opinions about brands (people, places and things). [SDL]
56% of B2B purchasers look to offline (aka word-of-mouth) as a source of information and advice, and this number jumps to 88% when online word-of-mouth sources are included. [BaseOne]
54% (word-of-mouth) has been shown to improve marketing effectiveness. [MarketShare]
84% of consumers reported always or sometimes taking action based on personal recommendations. 70% said they did the same of online consumer opinions. [Nielsen]
$174. is the average value of a Facebook fan in certain consumer categories. [Syncapse]
43% of social media users report buying a product after sharing or favoriting it on Facebook, Twitter, or Pinterest. Over half of purchases inspired by social media sharing occur within 1 week of sharing or favoriting, and 80% of purchases resulting from social media shares occur within 3 weeks of sharing. [VISIONCRITICAL]
79% of people say their primary reason for “liking” a company’s Facebook page is to get discounts. [MARKET FORCE]
81% also said they’re influenced by what their friends share on social media. [Market Force]
77% of brand conversations on social media are people looking for advice, information, or help. 18% were positive reviews of the brand. [Mention]
Brands that inspire a higher emotional intensity receive 3x as much word-of-mouth as less emotionally-connected brands. [Keller Fay Group] The same academic study also found that highly differentiated brands earn more positive word-of-mouth.
[Journal of Marketing Research]
66% of respondents under the age of 34 are likely to give a referral after receiving social recognition. [Software Advice]
More than 50% of respondents are likely to give a referral if offered a direct incentive, social recognition or access to an exclusive loyalty program. [Software Advice]
39% of respondents say monetary or material incentives such as discounts, free swag or gift cards greatly increase their chances of referring a brand. [Software Advice]
is Smart Marketing
The Word-of-Mouth Marketing Association (WOMMA) released a survey in January 2014, and it gave deep insight into what CMO’s thought of word-of-mouth marketing.
64% of their survey respondents mostly or completely agree that word-of-mouth marketing is more effective than traditional marketing. Meanwhile, half indicated that they’ve incorporated word-of-mouth marketing into their traditional marketing campaigns.
70% of respondents are planning to increase their online WOMM spend, and 29% will increase their offline word-of-mouth marketing spend.
82% use word-of-mouth marketing to increase their brand awareness, but 43% expect word-of-mouth marketing to improve their direct sales.
Millennials ranked word-of-mouth as the #1 influencer in their purchasing decisions about clothes, packaged goods, big-ticket items (like travel and electronics), and financial products. Generation X and Baby Boomers also ranked word-of-mouth as being most influential in their purchasing decisions about big-ticket items and financial products. [Radius Global]
It’s simple to see why we are turning to a word-of-mouth marketing campaign. The most challenging aspect is creating a word-of-mouth marketing strategy that works for both your business and your customers. However, this is what we do.