One of the significant benefits of understanding and positioning your brand is the word of mouth (WoM) it can generate.
Numerous studies have concluded that consumers are more influenced by WoM in buying decisions than by all other forms of print, online or broadcast advertising.
• 84% of consumers rank recommendations from family, colleagues, and friends about products and services as the highest source for trustworthiness. [Nielsen]
• 74% of consumers identify WoM as the key influencer in their decisions. [Ogilvy/Google/TNS]
• 88% of business-to-business purchasers look to WoM as a source of information and advice. [BaseOne]
• A 10% increase in WoM increases sales between 0.2–1.5%. [MarketShare/ Keller Fay Group]
By definition, brands become strong and stay strong thanks to the cumulative influence of WoM.
Let’s be clear about what we mean here: to generate positive WoM, you need to have something worth talking about. If your brand is experienced in unexpected, delightful, memorable or meaningful ways by your audience, then you’ve created something they want to talk about.
People love exceptional service, superior value, something for nothing, personal acknowledgement, to be treated as if they matter, to be “on the inside” by way of exclusive knowledge or information. What’s more, they love to share their experience by talking about it. And even better, others love to receive these kinds of referrals from their friends, family and influencers.
Start by putting your brand into words, being clear about what your audience is getting from you. Then figure out how to deliver that experience across the 5 P’s of brand alignment and engagement. If you can think deeply about unique ways in which your brand can be experienced (create something “buzz-worthy”), then deliver that experience (encourage the buzz), you will ignite a chain reaction of referrals that will drive discussion, traffic, leads, and sales for your product or service.
Next post we'll look at how raising brand advocates can save you work by doing a lot of it for you! Get a jumpstart and download our free e-book right now.
Kaoadia, Amity, December 30, 2015, “40+ Word-of-Mouth Marketing Statistics That You Should Know,” Ambassador Blog