Ask any marketing expert and they will tell you that there is no marketing technique more effective or efficient than word of mouth marketing. But what is word of mouth marketing and why is it so effective in driving up sales and interest? Let’s find out!
What is word of mouth marketing?
Simply put, word of mouth marketing is when you hear about a brand or a product from someone else. This can be a friend, a family member or an acquaintance. Just think about for a second. You are more likely to trust and buy a product if you heard about it from someone you know instead of a paid ad by the company. Word of mouth marketing (WOM) is a powerful tool in the arsenal of any marketer as it not only piques people’s interest, but also gets them talking. Multiple surveys have confirmed how influential word of mouth marketing is in driving up sales. Over 62% of customers search online reviews and information on products before they invest in it. And a whopping 90% of people admit that they brand and product recommendations from their friends and family members. With high number like those, only a fool would not talk advantage of word of mouth marketing to build their business.
Benefits of Word of Mouth Marketing
There are many factors that make word of mouth marketing so attractive to anyone looking to market their product or company. The numbers do not lie! There are brands that can attribute their success to word of marketing and have become leaders in their industry thanks to a small and dedicated group of people singing their praise to their friends and family. It is also extremely cost effective as ideally you do not have to spend any money on it.
The development in the internet and social media platforms also have made word of mouth marketing more effective. In fact, influencer marketing is just a more glamourised and paid version of word of mouth. Think about it- You pay someone to talk about your products and services. Even when social media is a thing of the past, word of mouth will remain. That is why it is considered to be one of the oldest, but yet most effective forms of marketing out there. Here are some numbers to help you understand the impact of word of mouth marketing.
- 75% of people do not trust ads but more than 90% of people are willing to trust a brand recommended to them by a friend or peer.
- People are 4 times as likely to buy a product when they are referred by friends.
- Word of mouth marketing promote twice as much sales as paid advertising.
- But less than 33% of businesses take advantage of it.
Word of mouth marketing and Direct selling
If there is one industry that has fully taken advantage of the word of mouth marketing to build their business, then it is the direct selling industry. Companies like QNET India are pioneers in promoting their products and services through word of mouth marketing. In fact, most people who join QNET or use QNET product learned about the company and business through a friend or family member.
Word of mouth marketing works well with QNET direct selling as direct selling companies do not prefer to advertise their products in the conventional manner. Yes, they do spend money on social media marketing and other stuff like that, but a bulk of their sales and new members come from people referring to their products to friends and family. Therefore, the importance of word of mouth marketing cannot be emphasised enough.
If you want to become a successful QNET direct seller, it is important to take full advantage of word of mouth marketing.