Finding new ways to generate sales is becoming more and more complicated. Especially considering that the competition is strong, and that simply having a presence on the Internet with a well-designed website will not guarantee the success of your business. However, a Word of Mouth strategy can be the perfect alternative.
A Word of Mouth strategy, also known as WOM, is a singapore number screening marketing technique based on happy customers. That is, they are the ones who promote the brand organically. This can be done through multiple platforms and with content of different formats.
The Word of Mouth strategy is an excellent technique to defend a product, since it is precisely the customers who talk about it. And taking into account the potential and influence that online reviews and testimonials have , it is a great success.
Furthermore, since these recommendations are made free of charge, additional sales can be generated without the need to develop specific campaigns.
That's why, for many smart marketers , a Word of Mouth strategy can never be missing. It has become one of the most profitable and productive ways to generate new leads. In fact, a Word of Mouth strategy works for several reasons:
74% of customers consider Word of Mouth to be the key influencing factor in their purchasing decisions.
88 % of people trust online testimonials as much as recommendations from friends.
Nearly 91% of B2B buyers are influenced by Word of Mouth marketing.
Advantages of a Word of Mouth strategy
According to the data from Nielsen, as indicated in the image at the beginning, 92% of consumers trust the recommendations of friends and family more than advertising. However, there is also a high degree of trust with people outside their personal environment. In fact, as has been proven, almost 90% of people trust third-party recommendations when purchasing a product or service.
However, despite the data that supports the power of a Word of Mouth strategy, only 33 % of companies are actively collecting opinions.
Despite this low figure, you should know that with a small Word of Mouth strategy you can achieve great results. Many studies have shown that, after implementing this type of strategy, a 10% increase in word of mouth has been noted. And translated into sales, an increase of between 0.2 and 1.5% has been seen.
Do you know what else you can achieve with a good Word of Mouth strategy?
A.- Build customer loyalty
According to data from the National Law Review , it costs five times more to acquire a new customer than to keep an existing one. And Bain & Co. estimates that a 5% increase in customer retention strategies can increase a company's profitability by 75%.
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