Some Facts About Word-Of-Mouth Marketing Previous item 3 Easy Analogies to... Next item Some Advantages of SEO

Some Facts About Word-Of-Mouth Marketing

This article provides some valuable information regarding word-of-mouth marketing and other digital marketing methods.

The survey is focused on different advertising and digital marketing methods. Every time the results reveal that word-of-mouth marketing is the most important of all the methods, both in application and effectiveness. A recent survey that was conducted among furniture retailers, revealed that more than 80% of the retailers suggested that word-of-mouth was their most powerful tool. In contrast, social media marketing as a section of the wider digital marketing methods available, which was also being used by all the retailers that took the survey, was rated ‘very effective’ by only 5% of the lot.

It must be noted though, that, the retailers’ specialty does not matter at all. The results were found to be same for different retailers dealing in jewelry, fashion, home furnishing, gifts and other items. Most of the retailers rated word-of-mouth marketing to be the most effective for their businesses. Indeed, there are other digital marketing methods as well but they have not been proven to be as valuable as word-of-mouth marketing.

Indeed, word-of-mouth marketing can be activated through the use of social media and other digital marketing methods as well but truthfully, it is quite less effective as compared to an actual conversation between two people.

This article provides some really great facts about the old and forgotten word-of-mouth marketing. You must read the complete article and learn more about this particular marketing technique and achieve great results!

The Word of Mouth Marketing Association quantifies this claim, finding that two-thirds of WOM’s impact is from offline communications, and only one-third from online. What’s more, it finds “an offline WOM impression drives at least 5 times more sales than a paid advertising impression, and much more (as much as 200 times more) for higher-consideration categories.”

That’s why WOM is always important for the retailers I work with and for whom I recommend Andy Sernovitz’s Word of Mouth Marketing book. As the former CEO of the Word of Mouth Marketing Association, Sernovitz systematizes the mostly unsystematic, haphazard practice of WOM. He breaks down word-of-mouth marketing into five Ts: Talkers, Topics, Tools, Taking Part and Tracking.

TALKERS:  “By the time we got to Woodstock, We were half-a-million strong”  Joni Mitchell in “Woodstock”

To make word of mouth successful, the first thing needed is to identify those among a retailers’ network of customers, friends, and fans that will carry your messages forward. You have to know your customers and know them well. That means talking with them.

It is more than just having a database of names and addresses, though too many retailers overlook building a vibrant contact list, relying instead on passive efforts to collect names like sign up forms at the register. If not doing so new, retailers should make it standard practice to ask for customers’ street and email addresses when writing up sales.

Author: Pamela N. Danziger

Link to the complete article:

https://www.forbes.com/sites/pamdanziger/2017/12/11/word-of-mouth-marketing-most-used-most-misunderstood-by-retailers/#5353a22110fe