Word of Mouth Marketing Statistics
This term is not a new idea but the way of using word of mouth marketing is.
Word of mouth in its simplest form has been around for 100’s of years and will most likely be around for 100’s more. Does your business use word of mouth marketing? Do you have a strategy in place for word of mouth marketing?
It is important to remember that regardless of who your ideal client is, word of mouth marketing will work.
Word of mouth marketing has taken to the online world as a way of sharing via business reviews and direct recommendations. Every day there are several people asking for business recommendations and they are both private and businesses asking.
91% of business-to-business buyers are influenced by word of mouth when making their decision. (Useful Social Media)
56% of business-to-business buyers look to offline word of mouth as a source of information and advice, but this figure increases to 88% when online word of mouth sources are included. (Base One)
According to a Nielsen report, 84% of consumers say that they trust recommendations from family, friends and colleagues.
Also from Nielsen, 68% of people will trust online opinions from other consumers and consider it a trustworthy source of information.
According to Forbes word of mouth marketing has shown to improve your marketing effectiveness by up to 54%.
84% of consumers report that they always take action based on personal recommendations and 70% report the same with online recommendations. (Nielsen)
So what does this all mean?
- You must have a word of mouth marketing strategy.
- As part of this strategy, you must teach people how to refer business to you.
- You must thank people for that referral too.
- You must have a professional web presence so that people can check your business out online after they receive a referral.