When did you last seek advice before buying something? In the digital age, advertising is constant, but we’ve learned to ignore it. Buying decisions have evolved throughout time. Before buying a product, we undertake research, ask for views, and consult trusted influencers.
A friend’s recommendation means more than a TV pitchman’s slick presentation. People prefer genuineness and will trust their friends or family members above a product salesman. Word-of-mouth marketing helps here. These customers are brand evangelists and actively advocate a brand online. This helps companies naturally reach more individuals.
WOM’s importance
Word-of-mouth marketing is popular since it’s so effective. If people talk about a brand without prompting, its market presence, reputation, and client base soar. Word-of-mouth marketing requires little effort. The brand may spend less time promoting itself and more time building consumer connections which have more longevity.
Why word-of-mouth works
Before we can comprehend word-of-mouth marketing, we must examine customer brand trust. 92% of customers trust word-of-mouth above traditional ads. When asked where they acquire information about possible purchases, 46% of Americans say family, 45% say friends, and 37% say TV or radio ads. That’s a very significant difference.
Only 66% of customers stated they perform their own web search, greater than asking family or friends. This data is needed to understand the 50-year shift. Consumers trust real-life friends more than the companies working to sell their products..
Word-of-mouth marketing will always be popular since institutional trust is declining. Let’s discuss why this marketing strategy works.
Brand loyalty
A brand evangelist promotes your brand whenever possible. They appreciate what you do and support your purpose. Imagine how powerful it is when people praise your brand online. Eventually, they’ll prefer your brand. It snowballs into increased loyalty. Fortunately, there are tools available to help you along the way to help instantly create engaging marketing campaigns for your fans, anywhere, anytime, creating exceptional brand loyalty. One of these tools is EyCrowd.
EyCrowd enables any marketing team to swiftly grow campaigns on their terms and reach their target consumers in ways they never imagined possible.
- Shorten the time between brief and activation
- Bring authenticity from customers and fans
- Take use of guerilla marketing and experiential activations in a cost-effective manner
- Associate your business with pleasure and exciting experiences
- Rewarding loyal customers, encouraging them to stay loyal, and spread the word about your brand
Increases in brand exposure, sales, and market presence without advertising is every companies dream. Every firm wants to budget wisely. A 5% increase in client retention may enhance a company’s profitability by 75%, according to Bain & Co. So, how can you retain customers? Transparency about your brand’s values is key.
Your objective, a clever campaign, or a memorable event will hook customers. Instead of spending money on social media marketing, cultivate consumer relationships. Simply responding to or liking their tweets will help. Consider a company’s Twitter account.
People enjoy tweeting with this company because they usually receive a response. Their social media team’s sarcasm has established devoted clients online (not to mention a constant stream of mentions). They’ve boosted brand recognition tenfold by using Twitter. Don’t underestimate the power of a caustic internet comment.
Originality
People value genuineness. Word-of-mouth marketing creates a community based on trust and honesty, rather than pressing people to buy because everyone else is. It’s better to build connections with customers who are interested in your product or service than to promote it to the masses.
When launching new items, a loyal consumer base is invaluable. They’ll buy it if they like your brand. Brand evangelists will buy more often, talk well of your brand, connect with you on social media, and post about you organically, boosting your ROI.
Word-of-mouth marketing works.