With WOMM (word-of-mouth marketing) driving billions of dollars in sales every year, it’s no surprise that it’s one of the most coveted sources of marketing. Positive word-of-mouth interactions can exponentially drive sales when leveraged through channels like referral marketing, affiliate programs, influencer marketing, and partnerships.
While word-of-mouth marketing impacts a tremendous amount of revenue for most brands, fewer than 1% of all companies have an actual word of mouth strategy in place. We all know word-of-mouth works, but for it to deliver results, we need to have a strategic plan for it.
In digital marketing where the landscape is changing at the drop of dime, it's important for marketers to lean on proven strategies - like how to create word-of-mouth marketing buzz - rather than staying on top of the latest trend that might negatively impact your bottom line, and eat up many of your resources.
Word-of-mouth marketing is all around us. Whether it’s in the form of reading product reviews or texting a friend for a referral before making a purchase, word-of-mouth marketing strategy now plays a large role in the buying process for consumers and businesses.
For centuries, word-of-mouth marketing (WOMM) has influenced purchasing decisions on everything from buying a new car to restaurant recommendations to software vendors. It’s no coincidence that you and your network share a few of the same favorite things. Who doesn’t love hearing about a great product or service from a trustworthy source?