With the public influence of online as the atomic conduit of marketing, word of mouth marketing (WOMM) is no longer reserved for the offline arena. Digital integration has made the Internet an adrenalized distribution channel that spreads referrals, products, recommendations, and reviews across communities and economies.
Let’s look at the facts. Data reported on Review42.com indicates that 92% of consumers trust recommendations from friends; and that word of mouth marketing generates five times more sales than paid media; 74% of consumers identify word of mouth as a determining factor in their purchasing decision.
Considering a case in point – according to Forbes.com: 83% of new moms are millennials, with 46% trusting the recommendation of other parents above any other channel, of which, on average, these mums spend more than eight hours online mostly looking or seeking parenting advice – we can’t help but tip our hats to the explosive possibility of word-of-mouth marketing through online channels.
And guess what Captains, you have to be there!
We’re not saying get rid of classic parking lot mothers or the old-fashioned game of golf, where many business leaders have been caught in the name of “I know a guy who” or “you should try” – we are told to pay attention to where these recommendations are now being explored, discovered and “shared” – at an alarming rate.
It’s not that WOMM needs a comeback, it’s that it’s already here – it always has been – only that now it’s sharing its voice with online buzz and reshaping itself to be stronger, bolder, faster and more impactful in the online amphitheater. The difference between yesterday and today? Is the How? ‘Or’ What.
In a world that is leaning more and more towards digital, automation, tools, views and clicks, we are seeing a growing emphasis on the importance of online word of mouth marketing. as a main component of e-commerce success.
Here are three key factors as to why word of mouth marketing – online and offline – is an avenue worth investing in:
The Age of Influence
Traditionally, the power of word-of-mouth marketing was believed to rest firmly in the realm of celebrity. The misperception is that millions of subscribers mean the best value when partnering with people to spread awareness about your product. But there is growing evidence to show that this is not the case.
Currently, we are seeing more potential word-of-mouth “advertisers”, which means more people are putting their degree of influence – both large and small – to good use, sharing recommendations and advice for the benefit of the brands they work with.
It’s also worth noting that brands now tend to use micro-influencers and nano-influencers more regularly than celebrities and mega-influencers – and for good reason, since their content receives higher engagement, which definitely offers doubt a more significant return on investment at the end of the day.
power to the people
Long gone are the days when creative careers were reserved for those with the chance – and the funds – to make a name for themselves on the big screens or sports fields. Today, we see ordinary people amassing millions of subscribers through the combination of natural talent, creative flair, and dynamic technology platforms designed to facilitate the widespread consumption of entertaining content.
Accessible platforms that allow users to create unique content are producing a whole new generation of entrepreneurs (with audiences large and small) who dedicate their time online to making money in ways we don’t. have never seen before.
The power of trust
It is undeniable that the Internet of Things has rapidly become a space in which an array of mixed quality (and often very low quality) information is available with just a few clicks. To that end, people with smaller, more engaged online communities tend to have a higher degree of trust in the eyes of their friends, family, and followers.
In the world of word-of-mouth marketing, that trust is gold, and that’s why brands are moving towards building relationships with real people, who also lend their own authenticity and credibility to the brand. .
With the exponential trend towards online WOMM as a hot competitor in the e-commerce space, it would be folly for a brand to neglect it as a key business investment strategy, over the next five years.
Word of mouth marketing has changed its game plan, but not its influence
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