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Word of Mouth Marketing The Foundation of Effective Sales Growth

Word of Mouth Marketing The Foundation of Effective Sales Growth

February 3, 2016

“One customer, well taken care of, could be more valuable than $10,000 worth of advertising.”  – Jim Rohn, Motivational Speaker

Word of mouth marketing is the reason businesses are shifting more of their marketing spend to the Internet; the online place your prospects are chatting. Before making a decision, consumers look to other buyers for advice. Just think about the last time you shopped online – did you click on the link for customer reviews? If so, how persuasive were those comments?

Consumers now seek out personal referrals for all purchases from hair cuts to automobile choice via:

  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • Angie’s List
  • Yelp
  • Google Reviews

Consumers have the ability to express their pleasure or dissatisfaction “real time” thanks to their handheld devices and what they say is being used by others to make buying decisions.

What does word of mouth marketing mean for your company?

A lot.

Rather than fear the negative, embrace the opportunity to actively hear from your customers about their experience. Interact with them. Share their comments. It is through this open, honesty and authentic dialog that prospects new to your company will begin to see into the culture of your company.

A company that interacts with consumers; both the negative review and the positive, are seen as accessible. Believe it or not; the unhappy who is acknowledged and then satisfied becomes a bigger champion on your behalf than someone who just had a good experience.

Companies today that acknowledge and harness the power of the word of mouth discussions by consumers have the opportunity to brand and market their business without spending additional dollars!

 

WOM By the Numbers

Not convinced? Check out these stats on word of mouth (WOM) advertising:

  • WOM has been shown to improve marketing effectiveness by up to 54%. [MarketShare]
  • When specific case studies were analyzed, researchers found a 10% increase of WOM translated into a sales lifts between 0.2 – 1.5%. [MarketShare/ Keller Fay Group]
  • 84% of consumers reported always or sometimes taking action based on personal recommendations. 70% said they did the same of online consumer opinions. [Nielson]
  • The average value of a Facebook fan is certain consumer categories is $174. [Syncapse]
  • 43% of social media users report buying a product after sharing or favoriting it on Facebook, Twitter, or Pinterest. Over half of purchases inspired by social media sharing occur within 1 week of sharing or favoriting, and 80% of purchases resulting from social media shares occur within 3 weeks of sharing. [VisionCritical]
  • Millennials ranked WOM as the #1 influencer in their purchasing decisions about clothes, packaged goods, big-ticket items (like travel and electronics), and financial products. Baby Boomers also ranked WOM first as the marketing influencer in their purchasing decisions about big-ticket items and financial products, and ranked it as the third highest influencer on their decisions to buy packaged goods. [Radius Global]

To review the results of a survey completed by the Word of Mouth Marketing Association in 2014, click here: WOMMA Report

Incorporating WOM Into Your Graphic Designs

About E&E Exhibit Solutions

 One of the ways to capitalize on the power of word of mouth advertising is to make it easy for consumers to reach you and share their thoughts.

  • Clearly place contact information on the top of your web pages; phone number, social media links
  • Monitor your social media accounts; Facebook, Twitter, LinkedIn etc. for questions and comments. Be responsive
  • Include contact information, Twitter handle, #-Hashtags into your retail graphic displays, custom banners and custom window graphics.
  • Utilize QR tags on your custom graphic designs to connect consumers via their Smart Phone to your website, social media sites, video channel or other online resources

Interested in learning more about how to include word of mouth contact information into your large format digital printing?

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