Word-of-mouth has always been a powerful influencer over business’s growth or decline. The old-style word of mouth has changed – the new word of mouth is through social media. According to eMarketer, 68% of social media users who are 18 to 34 and 53% of people ages 35-44 say they are at least somewhat likely to make a purchase based on a friend’s social media updates. Business owners need to respect and embrace this opportunity with social media to grow their leads and sales, and resolve customer issues if they present themselves. Wildfire Interactive reports that 80% of consumers have changed their mind about buying a product after reading a negative online review. Traditional advertising is still necessary to build brand awareness but when consumers are considering a product, it’s their friends, family and social media they turn to for advice. People tend to place more trust in their close personal groups versus a salesperson.
1. 84% of global respondents across 58 countries believe recommendations from friends and family are the most trustworthy sources of information about products, up from 78% in 2007. (Nielson).
2. 80% of consumers have changed their mind about buying a product after reading a negative online review. (Wildfire Interactive).
3. 68% of survey respondents indicated that they trust consumer opinions posted online, which ranked third in 2013, up 7 percentage points from 2007. (Nielson).
4. 56% of respondents said they trust consumer-consented email messages, an increase of 7 percentage points since 2007. (Nielson).
5. 85% of fans of brands on Facebook recommend brands to others. (Syncapse).
6. 69% of US consumers who have liked a brand on Facebook have done so because a friend did. (Lab42).
7. 43% of consumers are more likely to buy a new product when learning about it on social media. (Nielson).
8. 77% of consumers are more likely to buy a new product when learning about it from friends or family. (Nielson).
Word-of-mouth marketing via social media is the best way to engage customers and drive more sales to your business. One effective way word-of-mouth can build a bigger audience for your brand is to find power influencers who are already familiar with your target audience. Engage with these influencers and encourage them to share your information and brand. If you don’t already have a customer referral program, consider starting one to encourage engagement and customer referrals. Testimonials on your website is another great way to share positive customer engagement. Consumers are sometimes leery of paid advertising, however word-of-mouth marketing is the most effective means of building a loyal base of brand ambassadors which means more engagement and revenue for your brand.
How can you use Social Media Word-of-Mouth Marketing for your business? 1. Create a referral program for your business and ask your loyal customers to refer friends and family. 2. Encourage happy consumers to post reviews on social media and share with friends and contacts. 3. Include customer testimonials on your website and social media platforms.
What About You
Do you think word-of-mouth marketing is effective? Do you trust friends and family over salespeople? I look forward to hearing your stories. SHARE them with me on Facebook or LinkedIn.