With social media use at an all time high, many wonder what the best source of advertising is these days and how best to leverage it. While the oldest form of advertising, your reputation through word-of-mouth … online or offline…is still THE most influential social media platform. It’s in the numbers…
- 86% of consumers trust word of mouth recommendations from family, colleagues, and friends about products and services.
- 90% of consumers research reviews before purchasing a product or service.
- 59% of consumers enjoy sharing their buying experience with others in brand-related conversations.
- Customers acquired through word of mouth spend 200% more than the average customer and make twice as many referrals.
- 49% of U.S. consumers say family and friends are their top sources of brand awareness.
- A consumer is 50x more likely to purchase a product or service if recommended by a close friend or family member.
- It takes just 1000 customers to generate 500,000 brand-related conversations.
It’s no wonder that for centuries, people have been forming everyday preferences and making HUGE decisions based on word of mouth. It’s simple. It’s powerful. Best of all…it’s readily available.
So how do you make the most of and protect your reputation? As more small businesses use organic networks to boost their personal brand and their leads, having forethought and being proactive are key. It begins by developing a word-of-mouth marketing strategy that leverages the power of recommendations and referrals.