From toothpaste to travel, there’s one thing that influences purchase decisions more than any other source: word of mouth. We like to talk. And while we talk a lot about the usual stuff, our friends, family and careers, we talk a surprising amount about products and services.
- Word of Mouth Marketing (WOMM) – Any business action that earns a customer recommendation through building preference and delivering experiences.
- Speak it – One of the most important aspects of WOMM is paying it forward through recommendations made both offline and online.
- In America Everyday: 3.3 billion brand mentions in 2.4 billion brand-related conversations
- 9 in 10 word of mouth conversations about brands occur offline.
- The typical American mentions specific brand names 60 times per week in online and offline conversations.
- Like it – When individuals talk about a given product or service the majority of the conversations are positive. Odds are, if someone’s talking, it’s a good thing.
- 66% of all brand-related word of mouth conversations are “Mostly Positive”
- 8% of brand-related word of mouth conversations are “Mostly Negative”
- The average online review is 4.3 stars out of 5.
- Hear it – Consumers are always interested in hearing about new and interesting products. Before making a purchase, consumers pay attention to what people are saying about it.
- Driving Forces of Purchase Decisions:
- 54% Word of Mouth
- 47% Information from a website
- 42% Email sent by a friend
- 31% Online review
- The Most Influential Element Driving Purchase Decisions Today is Word of Mouth
- Offline Credibility – 59% of Americans believe offline (face-to-face or voice-to-voice) word of mouth to be highly credible.
- Online Credibility – 49% of Americans believe online word of mouth is highly credible.
- Service Profitability - 55% of consumers recommend a company because of its customer service.
- Experience Profitability – 27% of consumers would pay 15% or more to receive a superior customer experience.
Word of Mouth Marketing is as important as ever in both physical and digital channels. Despite advancements in technology, traditional band interactions and conversations continue to be a significant factor in influencing consumers.
