The word and the world of customers.Word of mouth marketing offline and online.
From toothpaste to travel, there’s one thing that influences purchase decisions more than any other source: word of mouth. We like to talk. And while we talk a lot about the usual stuff, our friends, family and careers, we talk a surprising amount about products (and services) and not just about the latest iPhone or how you can return anything at Nordstrom. How much? We’re glad you asked.
Word of mouth marketing (WOMM).
Any business action that earns a customer recommendation through building preference and delivering experiences.
- Speak it. One of the most important aspects of WOMM is paying it forward through recommendations made both offline and online.
9 in10 word of mouth conversations about brands occur offline.
The typical American mentions specific brand names 60 times per week in online and offline conversations.
In America everyday: 3,3 billion brand mentions; 2,4 billion brand related conversations.
- Like it.When individuals talk about a given product or service the majority of the conversations are positive. Odds are, if someone's talking, it's a good thing.
The average online review in 4,3 stars out of 5.
66% of all brand-related word of mouth conversations are "Mostly Positive".
8% of brand-related word of mouth conversations are "Mostly negative".
- Hear it. Consumers are always interested in hearing about new and interesting products. Before making a purchase, consumers pay attention to what people are saying about it.
Driving forces of purchase decisions (54% - word of mouth, 47% - information from a website, 42% - email sent by a friend, 31% - online review).
The most influential element driving purchase decisions today is word of mouth.
Credibility. 59% of Americans believe offline (face-to-face or voice-to-voice) word of mouth to be highly credible. 49% of Americans believe online word of mouth is highly credible.
Profitability. 55% of consumers recommend a company because of its cutomer service. 27% of consumers would pay 15% or more to receive a superior customer experience.
WOMM is as important as ever in both physical and digital channels. Despite advancements in technology, traditional brand interactions and conversations continue to be a significant factor in influencing consumers.
The Word of Mouth Marketing Association (WOMMA) is a community of marketers shaping how businesses can effectively use word of mouth marketing.
To learn more about creating and maintaining talkable brands:
Visit WOMMA.org or attend the 2011 WOMMA Summit: wom.ma/summit 2011.
Created by ColumnFive
WOMMA - word of mouth marketing association
SOURCES: Experian | Harris Interactive | Keller Fay Group | RightNow | Wall Street Journal