Since the old days, people have always been talking about the products, services, and brands they are experiencing with. They love to talk about their experiences, emotions or needs for a particular brand. WORDS OF MOUTH (WOM) marketing is nothing different from that. So you can say word-of-mouth marketing is taking place all the time and everywhere. Only by the circumstances, the source or type changes.
People communicate in many ways. They speak face to face, over the telephone, by writing letters, emails and blogs and so on. This exchange of thoughts about service or products initiates to form the opinions. With the widespread use of social media, the way of communication has been shaped and grown 10x more than earlier. And hence, the WOM marketing is also affected by this change and business can leverage the power of word-of-mouth marketing and enjoy a cost-free marketing promotion.
Importance of WOM Marketing
What do you do while thinking of buying any product? Discuss it with family or friends right! That’s what 70% people do when it comes to making a decision for buying or availing any service. Consumers trust the experience and feedback of their known individuals and believe that if they avail the same product or process, they will not be cheated. 80% of consumers depend on the suggestions from friends and family than advertising. This is the reason more than 60% consumers search for online reviews before finalizing their deal. This is how word-of-mouth marketing works and is important.
This word of mouth marketing is a much valuable source of marketing. WOM does not end once you have spoken about it, the course goes on from one person to another, and the WOM chain spreads further. Thus it becomes a great channel of exposure and distribution. If handled well, the personal endorsement can connect you to the wider range of consumers and potentials. For marketers like Amazon and others, customer feedback is readily available and significantly valuable to modern consumers. And this is the reason marketers attended customer’s grievance promptly- as negative comment spreads like fire.
Loyalty brings new client base, and word-of-mouth marketing serves the purpose of free advertising. Mainly small businesses put more effort for WOM marketing as they can not afford to allocate a huge part of the fund for other promotional media. However, this tangible input improves overall communication strategy and increases customer satisfaction. This is an opportunity for every marketer to go far beyond the expected and limited outcome.
WOM: Open the door Offline and Online
Customers are delighted 4x more when they buy any product that is referred by a friend, here WOM influences the purchase call. Now in the digital era information-spreading process is much faster and easier. To take this unique advantage, you just need to interact with people, and the more likely your name will spread.
Offline sources like television or print are the broadcast medium that contributes to the information-spreading process. Consumers are more emotionally bonded to a product of certain company what they are using. When they see it on television, in the magazine, flyer or brochure; they discuss it and refer it to their connections. Even the companies do the same thing… their sales representatives use to call the users and collect the consumer’s review, personal experience or feedback.
This kind of interaction is also considered as promotional events WOM marketing. This technique of marketing is much effective for a group of people or location specific.
The power of online word-of-mouth marketing is immense. The use of internet has changed our lifestyle and has radically transformed how we utilize word-of-mouth messaging as a means of marketing. Entering the age of digital word-of-mouth Marketing by default the consumers goes to the review pages whenever they think of buying anything. Don’t you think this is true? Of course yes!
The enormous use of social media since last decade has hurled the traditional private and offline WOM references to the public platform. Now consumers are addicted to social media activities, especially the millennials. They have unlimited access to tweets, chats, comments, likings, and sharings. They freely express their feedback and feelings in the media platforms which come to notice of all. This type of word of mouth advertising on media builds trust for the seller.
And this communication transmits information from person to person in such a powerful way that you can not ignore. Further, this ‘passing on’ method has no boundary and can quickly reach people around the globe. Online WOM rises the opportunity to generate more traffic and consequently more sale.
KPIs (Key Performance Indicators) that can help you for WOM marketing
1. Offer good quality products. Nowadays people do not step back to pay more if they are getting quality products. Going beyond their budget, they happily take away the required quality and share it with others.
2. In WOM marketing behavior of the marketer matters. Top-notch services from the seller make the consumer satisfied and they keep it in their mind; talk it about in the circle when in context.
3. Get socialize with your customers. Make them your point of connection to Twitter, Facebook, LinkedIn, or Instagram and so on. Encourage them to endorse you on the media platforms and share their feedback online.
4. Appreciate your customers. Everyone loves to feel special in some way. Do not forget to say ‘Thanks’ at the end of the purchase session. Your little words of appreciation will make your customers loyal to you and will speak for you.
5. Make your deals and presentation attractive. People are a fan of nice things. Your small effort towards the packaging or a ‘Thank You’ card will make the customer return to you and refer you to others.
6. Address customers complaints asap basis. Quick and efficient handling of problems impresses the customer. Ensure you and your employees are always polite while talking to the customer.
7. If possible arrange a social gathering once in a while and invite your customers therein. Give them a chance to speak about your brand and reward their effort to get you recognized by giving them some offer coupon or cash card or making them a member of any beneficial program.
These days a large part of WOM marketing is digitally done. If you really want a lot of buzz about your business, do something that is worthy to the customers. Consider the tips mentioned above, and those will surely spread your brand message.