What is Word of Mouth and Why is it Important?
Word of mouth is the process of people sharing information, opinions, or experiences about a product, service, or brand with others. It can happen through various channels, such as face-to-face conversations, online reviews, social media posts, blogs, podcasts, videos, and more.
Word of mouth is important for several reasons:
It is trustworthy. People tend to trust recommendations from their friends, family, or other consumers more than advertisements or other forms of marketing. According to a survey by Nielsen, 83% of consumers say they trust word of mouth recommendations from people they know, and 66% say they trust online consumer opinions.
It is influential. Word of mouth can affect consumers’ attitudes, beliefs, and behaviours towards a product, service, or brand. It can also influence their purchase decisions and loyalty. According to a study by McKinsey, word of mouth generates more than twice the sales of paid advertising, and customers acquired through word of mouth have a 37% higher retention rate.
It is cost-effective. Word of mouth does not require a large budget or a sophisticated strategy to implement. It can be generated by providing a high-quality product or service, delivering excellent customer service, creating a unique brand identity, encouraging customer feedback, and rewarding referrals.
Word of mouth is a powerful marketing tool that can help you grow your business and build a loyal customer base. By understanding what word of mouth is and why it is important, you can leverage it to your advantage and achieve your goals. If you need more help with word of mouth marketing, feel free to contact me at debbiegainsford.com. I would love to hear from you and assist you with your needs.
