Word of mouth (WOM) marketing is the most cost-effective and productive way to generate new leads. With the avalanche of advertising out there that people see every day, the recommendation of a friend or customer can be more compelling than any other traditional tool, i.e TV ad or banner.
It is often common for people to research online when considering the purchase of a product or service, and WOM is one of the most reliable ways to build loyalty.
Here are some stats that back the statement above:
- Over 90% of people trust a WOM recommendation over any other kind of advertising
- 85% of small business are discovered by new customers thanks to WOM recommendations
- 54% of consumers share their negative experience with more than 5 people
- 74% of consumers quote WOM as a key decider in their purchasing decisions
- 31% of people turn to social media when looking to purchase a product
How do you stimulate WOM recommendations?
Start with your customers, they’re your first advocates 💪
Create a smooth ordering / sign up process for your product or service
Build strong connections with your audience, as opposed to talking to them
Provide something to talk about
Encourage feedback through multiple channels including social media
Generate an emotional response
Create a community through social media or forum
Keep conversation flowing, interact
WOM is far more effective than any lead generating tool and business owners need to do all they can to make sure their happy customers spread the good vibes ✌️.