But have you heard of word-of-mouth marketing? It might surprise you to learn that it drives $6 trillion of annual consumer spending globally and is estimated to account for 13% of consumer sales. These are pretty impressive word-of-mouth marketing statistics, and we’re about to share some more. In many cases, word-of-mouth marketing is a free form of advertising and a way of utilizing loyal customers to spread the word about your products or services. Word-of-mouth marketing is a near cousin of online viral marketing, and it happens in two ways:
Organic word-of-mouth: Organic WOM occurs naturally when people become brand advocates because they’ve had a good experience with a product, are happy customers, and naturally want to share their enthusiasm and show their support. Amplified word-of-mouth marketing strategy: With amplified WOM, a brand will launch a campaign that’s designed to encourage or accelerate WOM and attract new customers.
Keep reading for some WOM marketing stats that show you just how powerful it is and why many consider it to be the bee’s knees of marketing.
Key Word of Mouth Statistics 2023
Word of Mouth Marketing Effectiveness Statistics 2023
Word of Mouth Marketing Stats: Positive and Negative Impact
Word of Mouth Marketing vs. Advertising Statistics
Trust in Word of Mouth Statistics
Results From Word of Mouth Statistics
Conclusion
A word-of-mouth marketing campaign is a powerful marketing channel that works exceptionally well for all types of companies. It doesn’t matter what industry you’re in. WOM will always help you. The advantages of word of mouth and influencer marketing are as follows:
You can grow your sales without ad spending: Many different brands now use word-of-mouth advertising rather than spending money on advertising when they want to grow their fanbase and increase sales. It builds a community rather than a commodity: Word-of-mouth is a very effective way of engaging with your customers. Customers who are more engaged will purchase more often and recommend your brand to family and friends. More funding, more freedom: High levels of customer loyalty and repeat purchases make your business more attractive to angel and venture funding.
When compiling this list of word-of-mouth marketing statistics, we found the following resources very helpful:
Big Commerce Invesp ReferralRock SEM Rush Everyonesocial GetAmbadassor Convince and Convert
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