Why in 2017, Word of Mouth Matters!
2017 will be a year of change; politically, economically and technologically – with technology leading the way. New technology is evolving current business – how we communicate and manage process has evolved significantly due to technological innovations. We can see one area which has been particularly adapted is marketing and advertising, from traditional media in newspapers shifting to online banners – marketing is changing rapidly. However, one mantra has stayed steadfast throughout all of this rapid innovation; that word of mouth is always the best form of marketing. People believe in and follow the recommendations from their friends and network.
I believe that in 2017, word of mouth recommendations will continue to become more important, more essential and the basis of an increasing majority of purchasing decisions.
We are witnessing the end for TV and traditional advertising.
(DIT/ Nielson – http://www.nielsen.com/us/en/press-room/2012/nielsen-global-consumers-trust-in-earned-advertising-grows.html)
People have stopped trusting what the advertising, spouted by corporations or highly paid celebrity endorsements. When celebrities endorse through social media it appears real (even if they are paid) because we trust the personal platform, especially if they’re retweeted or shared by a friend. The data suggests that for recent generations, the numbers (92% trust their friends) are staggering.
Social media has dominated the last decade, we’ve only had just over ten years of Facebook and Twitter and yet we can hardly imagine life without them. People’s views, options and lifestyle choices are now easily accessible online. Personal and opinionated discussion drives success of social media platforms (something failed networks such as Myspace didn’t allow) and is the first time that word of mouth could be captured.
Facebook’s (opinions) rise vs. Myspace’s fall.
So as a business how can you enter into that 92% of trust for recommendations in the first graph? In Seth Godin’s incredible book, ‘The Purple Cow ‘ – I certainly recommend it (check it out here) – he talks about the importance of being more ‘remarkable’ and striking than competitors. Ten years on, this is still certainly true, but how as a business, especially a startup or SME can you capitalise on the power of word of mouth? It’s very hard to compete with Amazon’s customer service, Google’s successful weirdness (it’s easy to be just weird) and Tesla’s innovation drive (pun intended).
The answer is to be a company that is remarkable for each and every one of your customers, make sure every experience is positive, that the product is the right quality and that disappointments are very rare (and easily solved). With trust rates in big companies and advertisement plummeting, word of mouth and personal recommendations are increasingly vital for success against competitors.
Enabling and engaging customers is one sure fire way to success.
Technology has irrevocably changed and shaped business, and marketing has changed with it, gone are the days of Mad Men – we’re in the era of social marketing and influence. Word of mouth is king in the new and important way people follow trusted recommendations. We at Recommendable have seen this trend, seen the important power of word of mouth recommendations and have built a platform which allows you to capture your word of mouth recommendations. Capture and utilise the trust of your customers to drive growth and build your business revenue.
About the Author:
|Chief Operating Officer|