In a world where digital marketing rules the advertising where businesses spend millions of dollars to promote their products or services.. KPI(clicks, time spent on website, ad clicks, conversion into sales etc) have the utmost importance..
For a change, Let’s take a look into one of the oldest and most powerful marketing strategy.. Word of mouth marketing..
Word of mouth marketing is where customers shares a positive review about product or service of a particular brand in their network which influences others to buy the said product or service and the process continues..
This is effective cause we tend to do or act like people whom we associate with(friends and family), who have Shared beliefs and values.. We trust people in our circle..
Therefore Word of mouth is most trusted channel and effective.
Here are the few stats about word of mouth marketing and why it’s the most effective
92% of consumers trust recommendations from friends.. (source:BigCommerce)
40% of movie goers get recommendation from friends and family on social media (source:BigCommerce)
74% of all purchase decision happen through word of mouth (Source: Ambassador)
72% consumers will buy from local stores if it has 3 star rating (sources:BrightLocal)
Businesses that create emotional connection receive 3x more word of mouth than others who don’t (Source: FriendsBuy)
68% of consumers trust online opinion of others (Source: Nielsen)
20% offline sales are due to word of mouth
Word of mouth greatly improve marketing by upto 54%(Source: MarketShare)