Word-of-mouth Marketing
Word-of-mouth marketing (WOMM) is any form of marketing in which satisfied consumers share information about a product, service or organization with others by using any medium – social networking or an in-person conversation. It can also be termed as consumer-to-consumer marketing.
92% of consumers trust recommendations from friends and family more than any other form of advertising. (Source: Lithium)
In other words, when consumers feel satisfied with the services or products of a brand, they tend to develop an emotional bond with it. With this emotional bond or behavioral psychology, those customers share their feedbacks or word of appreciation with others and that generates Word-of-mouth marketing.
Why Word-of-mouth marketing?
- 50% of all purchasing decisions are influenced by WOMM
- More than 2X the sales of paid advertising
- Influence on each stage of the buyer’s journey
(Source: McKinsey)
Benefits of Word-of-mouth marketing:
- Generates trust among the existing as well as the potential prospects
- Trust seeds loyalty in the consumers
- Creates buzz – responds well to the digital marketing challenges
- Establishes brand identity
- More cost-effective and less time-consuming
- Supportive to Viral Marketing
Ways to use Word-of-mouth marketing:
- Create a buzz – a social trigger with appealing content
- Give consumers reasons to connect with your brand on an emotional level
- Leverage user-generated content
- Engage with the right influencers
- Focus on excelling customer experience
- Reward loyal consumers
