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Yes you are right. People love to believe their closed ones.
According to Nielsen,92% of consumers believe recommendations from friends and family over all forms of advertising.
In an other study, when customers had been asked what sources "influence your decision to use or not use a particular company, brand, or product,"72% claim reviews from family members or friends exert a "great deal" or "fair amount" of influence.
Word of mouth marketing is of course creating a wave now. This type of marketing is being successful for certain type of products and certain section of people. Particularly people working in service industry are going for online purchases of products fall for word of mouth marketing. The best example of this is the newer players entering mobile phone market and creating a space for themselves.
Word of Mouth Marketing in now a days called referrals which is powerful tool in today's sales context. It is the easiest form of medium these days certain companies are following generally with high conversion ratio's like automobile industry/ consumer durable.
If we satisfy a customers in terms of product / services they in turn will be medium of spreading good or bad about the product.
We have seen good conversions and its spreads among the circle with out much spending on promotions.
Word of mouth marketing existed before the word "Marketing" was created. It was how business happened in the past. It was how some merchants became popular and how others had to close down.
Personally, when I try to buy something I either ask a friend's opinion or I look at the reviews if it's on the internet. Many times I felt disappointed and reluctant to buy when there are no reviews but in the same time, I try to see if the reviews are fake and if I find just one that I may consider as fake I leave the website.
In the other hand, when I try to sell something I put myself in the other's shoes and see if my technique will convince me to buy if it was directed at me.
I'm not going to give numbers, but I know a real life example. Without giving names, there is a company in my country that sell products made from aloe. The company never paid for advertisement. Instead, they let the mouth to mouth technique work. They became a popular and luxury brand that people accept all their higher prices with no complain with the knowledge that most of those who buy from them think there is an exaggeration of prices.
Word of Mouth is the most trustful and effective marketing tool. Even with new technologies, we will remain humans.
Messages by word of mouth will never fade so long the human exists on earth.
No, both of them have to two different effect, WOM has different result from digital marketing, most of senior business people are deleting digital mails even without reading, WOM is not like that it has an immediate effect and reply, result - So very simple, digital marketing has no value if compare to WOM, but rather it has its own value - Thanks
If you could master what has been identified as the most valuable form of marketing—the one that consumers trust above all others and the one that is most likely to drive sales for your company — would you instead choose to ignore it or leave it to chance?
Why would you simply choose to sit back and hope conversations will just happen organically about your brand? If you want to win the marketing race in2015, you need to unleash the power of word of mouth.
Let’s look at the facts. According to Nielsen,92% of consumers believe recommendations from friends and family over all forms of advertising. WOMMA and the American Marketing Association (AMA) decided to find out exactly what brands were doing about that fact. In a recent study,64% of marketing executives indicated that they believe word of mouth is the most effective form of marketing. However, only6% say they have mastered it.
There is a proverb: " A known devil is better than an unknown angel"
People dont venture taking risk rather relying on those who vouched the product/service!
At the present time it is still important
But it would be in the future
I would disagree with that, marketing/advertising on social media provide/describe/present the product/company.
Word of mouth is the normal customer feedback of experience with your firm/system.
Word of mouth is the result of a satisfied/unsatisfied customer.
*Nothing will replace direct customer service/sales/negotiation in building a healthy long term customer relation/satisfaction/loyalty/ 'word of mouth'.
Thank You.
