Increasing brand loyalty is at the top of the priority list of every business. While traditional marketing is a great way to expose your brand to your community and target markets, nothing can beat the word-of-mouth (WOM) marketing that occurs without your knowledge.
People will often trust the opinions and experiences of their friends and family. So, where word-of-mouth marketing lacks in authority, it makes up for in trustworthiness. In fact, according to the Wharton School of Business, word-of-mouth exposure can increase a brand’s loyalty base by 16% to 24%. To get a better idea of how this kind of marketing is beneficial for your business, Davant Indy is diving deeper into this topic.
Why Is WOM Marketing Important?
Increasing the “buzz” around your business, product, or services is the only way to build trust and loyalty within your target audience. Yet, this isn’t achieved merely by online marketing, flyers, and mailers. You need boots on the ground – people sharing their experiences with others to create hype about your business.
Recognizing that word-of-mouth marketing is a crucial part of the buying experience will help you influence what people have to say about your business and their experiences when they share with friends and family. The more hype you can create about your business, the faster word travels. When word travels, your business grows, and you’ll quickly find yourself with a loyal customer base.
Knowing WOM consumers is a crucial part of your success with this kind of marketing tactic. According to The Global Web Index, these consumers are more likely to be from North America and hold these key characteristics:
- 15% female
- 28% divorced or widowed
- 10% more likely to be within the 10% of earners
- Be of the older generations
For both Baby Boomers and Gen X, word-of-mouth marketing is the third most likely way they’ll discover and trust your brand. WOM marketing falls to fourth place for millennials and Gen Z, just ahead of social media recommendations.
How to Leverage WOM Marketing
In a world so reliant on digital platforms, Google reviews, and chat rooms, it can be difficult for marketers to build a strategy around WOM marketing. It starts with understanding where your consumers research new products and businesses. Knowing where your audience is getting their information means you can target a smaller pool of people. Too often, brands try to reach a larger audience, thinking it will increase their brand loyalty and trust, but are quickly left with ‘faux-inspirational’ and insincere promotors.
Instead, businesses should be focusing on connecting with their audiences and building genuine connections. There are plenty of avenues for doing so, including:
- Sending out cards after a purchase and asking for a review
- Providing people with referral incentives
- Creating and managing online communities like Facebook Groups
- Flat out asking for a review or referral when a consumer leaves after a purchase
Your WOM marketing goal is to send out credible and reliable sources with user experience that can influence those around them. Providing excellent customer service, transparent value exchanges, and high-quality products will further increase your likelihood of building a strong word-of-mouth marketing strategy that works hard for you while you sleep.
Promote Your Business
Promoting your business involves using print materials, signs, mailers, and word-of-mouth marketing strategies. Davant Indy has you covered with all of your printing needs. We can even get your staff on board with apparel. Upload your design on our website today or give us a call at (317) 849-6565.