The holy grail of marketing is word-of-mouth (WOM). It’s an easy way to promote a brand, and it stems from the most reliable source possible: a completely pleased client.
When it comes to product and service recommendations, 92 percent of customers trust friends and family over all other types of marketing, according to Nielsen. The oldest and, spoiler warning! most potent type of marketing is word-of-mouth. It has influenced people’s decisions from the start of time. One cave dweller would tell the other where the ideal place to hunt wild boar was in the prehistoric era. Ladies in the Victorian era would refer one another to the best silk merchants in town.
According to Kantar, friends and relatives (93%), as well as online consumer opinions (91%), are the most trusted sources of endorsements. Advertising, on the other side, has the least level of confidence, with only 38% of consumers believing in its trustworthiness.
Indeed, word-of-mouth marketing has the added benefit of increasing visitors to your business, allowing you to grow quicker. Depending on how engaged your consumers are, this may happen in as little as two to three days. In small, local, or even virtual groups, word-of-mouth marketing is the most successful. This is due to the fact that most individuals in these groups know and trust one another.
However, when a single disgruntled client or rival takes to the airwaves– internet, social media, blog– word-of-mouth marketing has its drawbacks. Even if you accommodate your consumers, it is still up to them what they say and of course, there’s no assurance that they’ll tell their friends about your brand, right? Well, even if that’s a con of WOM, with ominous messages, customers may still consider you to be the best, most inexpensive brand and it might aid in shaping your business’ future.
You should always remember that one bad review can reduce 10 good reviews to nothing. People will focus on the bad, they will read and believe the bad, it will make them more wary of you and your company, so the bad reviews need to be answered quickly, and honestly so that the goodwill rise to the top.