![]() Benefits of word-of-mouth marketing Customer loyalty Plus, 74% of consumers identify word of mouth as a key influencer in their purchasing decisions. Not convinced? Beyond friends and family, 88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts. Not only is it mostly free to generate referrals, but 40% of leads come from word-of-mouth marketing. Word of mouth is a reliable channel for retailers of any size and age. You need to know your marketing strategies will work and be cost effective. Just 1.1% of people who view your Facebook news feed ads, 0.79% of Facebook Story views, and 0.22% of Instagram ad audiences will click through.Īs a small-business retailer, you don’t have money to waste on expensive and unpredictable ads. Head to social media and things don’t get much better. The same applies to display ads, which have an even worse CTR average of 0.47%. In Q1 2020, the median CTR for Google Research ads decreased from 2.5% to 1.55%. Many advertising channels have seen a decline in click-through rate (CTR) over the past few years. ![]() Traditional advertising is taking a back seat to other forms of promotion in today’s world. Why word-of-mouth marketing matters for retailers That makes sense considering 92% of consumers trust family and friends over advertising, and 38.5% of brands report conversions and sales from influencer marketing. ![]() It’s a strategy almost half of businesses worldwide rely on heavily to drive sales. Word of mouth is the most effective marketing channel, but more importantly, it is the only thing that really shows that what you are building has any true value. They also make word of mouth a key influencer in their purchasing decisions, and generate high customer lifetime loyalty. ![]() Highly involved buyers often recommend their personal contacts. It’s a free advertisement from a customer that comes from having a positive experience with your brand. Word-of-mouth marketing, also known as word-of-mouth advertising, is the process of influencing organic discussions about your brand.
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December 2022
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