Back to the Future: The Old Marketing Feature Driving New Marketing Success.

As we progress into the digital age, it's crucial to look back and draw inspiration from the past. One such timeless marketing feature proving to be the driving force behind new marketing success is "Word of Mouth" (WOM). Let’s look at the enduring impact of WOM in today's landscape:

?Referral Marketing

According to a study by the Wharton School of Business, referred customers have a 16% higher lifetime value than non-referred customers. This shows the value of leveraging existing customers to attract new ones.

?Social Media Amplification

A Nielsen report revealed that 92% of consumers trust recommendations from friends and family over other forms of advertising. Social media platforms amplify the reach of these recommendations, making WOM a potent tool.

Purchase Decisions

HubSpot research indicates that 71% of consumers are more likely to make a purchase based on social media referrals. Engaging brand advocates significantly influence decision-making of customers.

?Brand Loyalty

McKinsey & Company found that customers acquired through WOM have a 37% higher retention rate compared to other acquisition channels. Building brand loyalty through genuine connections pays off eventually.

?Modernizing WOM for New Marketing Success ??

Redefining WOM for the digital era is essential to harness its full potential:

?Collaborate with influencers who align with your brand values to amplify WOM and expand reach to their loyal followers.

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?Encourage customers to share their experiences through #UGC campaigns. UGC provides authentic and relatable content that resonates with potential customers.

?Implement #referralprograms to incentivize existing customers to refer your products or services to their networks.

?Monitor social media conversations to identify brand advocates and address #customerfeedback promptly. Respond to feedback and maintain a rapport with customers.

?Display customer #reviews and #testimonials prominently on your website and social media channels to build trust and credibility.

?Putting 'Word of Mouth' into Action?

Here are some practical steps to leverage WOM for your #marketingsuccess :

?Brand Advocates: Use #sociallistening tools to discover customers who frequently mention and praise your brand.

?Engage and Reward: Cultivate relationships with #brandadvocates by engaging with them regularly and offering exclusive perks or rewards for their loyalty.

?Shareable Content: Create #shareablecontent that resonates with your target audience and prompts them to spread the word.

?Measure and Analyze: Track the impact of WOM initiatives through referral codes, trackable links, customer surveys. Analyze the data and refine your WOM strategy continually.