4 Stats Showing The Power Of Word-Of-Mouth

Vouchify Word Of Mouth Marketing

If you have something to sell, you need marketing – it’s just that simple.

In the 1989 movie Field of Dreams, the phrase ‘If you build it, they will come’ was popularised. While there is obvious truth in that, the way they come will be much more profitable if you are deploying a marketing strategy that really works.

So what really works? 

SEO and online marketing, trade shows, email, merchandising, print and more have all proven to be very effective over the years. But what’s the most effective way in which people are turned into customers? It’s called word-of-mouth.

Centuries before the website banner was invented, people made big decisions based on actual, real recommendations and referrals from other people they trust. And it’s still the most powerful way to market what you have to sell.

Don’t believe us? Here are some real stats to back us up:

1. Most Trustworthy

 

In 2013, consumer research authority Nielsen found that across a survey of 58 countries, 84% of those asked said referrals and recommendations from friends and family hold the most sway when it comes to trustworthiness.

2. Most Influential

 

In 2014, an influential paper reported that an incredible 91% of B2B buyers were making their purchasing decisions after being strongly influenced by word-of-mouth.

3.Most sought after

 

Because of its incredible proliferation, there is so much to learn about consumer behaviour from social media. Media monitor Mention conducted a study of a billion brand mentions on social media platforms, and almost 8 in 10 was an active appeal for a recommendation from friends.

4. Most Effective

 

Traditional marketing may dominate most marketing budgets, but a survey sponsored by the American Marketing Foundation found that 64% of marketing professionals believe word-of-mouth is actually more effective.

As the research and stats bear out, word-of-mouth marketing is not only an important tool for the growth of businesses and service providers, it is perhaps the most important one of all. Vouchify is the newest and easiest way potential customers can find nearby businesses that are personally recommended by friends, so download the app today or register to start growing your business.