Home » Marketing » 35+ Word of Mouth Marketing Statistics
Looking for the latest word of mouth marketing stats to figure out how it can help your company? Not sure if word of mouth marketing is right for your business, this is the article you should read.
Word of mouth marketing is one of the oldest and most authentic marketing techniques. It has been used for ages even when businesses didn’t invest in word of mouth marketing at all. For instance, whenever a customer shares his views about a product or a brand with friends, its word of mouth marketing in action.
Today, companies spend billions of dollars in the different word of mouth marketing techniques to generate leads, sales, and improve brand awareness. It drives more than $6 trillion of consumer spending a year and accounts for 13% of consumer sales all over the world.
What exactly is word of mouth marketing and how it can help your business? Let’s find out.
Word of mouth marketing (WOMM) is defined as consumers interest in a brand that is reflected in their daily lives. It is organic marketing where your customers talk about your product or company naturally during conversations with their friends and family. It isn’t always mean that someone will recommend your product but a mere mention of your product or brand is considered word of mouth marketing.
Word of mouth marketing could be organic or amplified. Organic word of mouth marketing occurs when customers discuss or recommend your brand or product naturally in their conversations. Amplified word of mouth marketing occurs when you initiate a marketing campaign to boost WOMM by hiring influencers, using social media, or other marketing channels.
The following list of word of mouth marketing statistics/stats will show you its strength and why you should start taking it seriously.
Word of mouth marketing is a powerful marketing channel that works exceptionally well for all types of companies. It doesn’t matter what industry you are in, WOMM will always help you.
Don’t rely on organic WOMM rather create targeted word of mouth marketing campaigns to make it work for your business. Collect customer reviews, record customer video testimonials, run influencer marketing campaigns, and have a WOMM strategy for your business.
It’s something you can’t go without, so don’t even try.