Cover art for podcast Viral Solutions: Your Chief Marketing Officer | Marketing and Business Strategy

Viral Solutions: Your Chief Marketing Officer | Marketing and Business Strategy

355 EpisodesProduced by Thomas von AhnWebsite

On this podcast, we talk about marketing strategies and tactics. Many of our podcast episodes will cover strategic marketing (segmentation, targeting, positioning, market orientation, branding, and offering development), but we will also discuss tactical marketing (Facebook advertising, email market… read more

19:01

Get the Word Out: How to Leverage Word-of-Mouth Marketing in 2019

Human interaction has plummeted over the years. Face-to-face contact has been replaced by pixelated conversations behind computer monitors and 6-inch glass screens.

But, this hasn’t dulled the power of good ol’ fashioned word-of-mouth marketing, which still drives 20-50% of all purchasing decisions. And though technology has replaced human face-to-face interaction, it has made word of mouth much more POWERFUL than it ever was, giving enthusiastic customers even more channels to spread the word about the brands they love and adore.

So, whether via online conversations or the traditional sit-down family dinner, word of mouth is still one of the most powerful ways your customers can become marketing ambassadors for your brand.

The Power of Word of Mouth – A $6 Trillion Industry

Word of mouth brings in $6 trillion of annual consumer spending, which accounts for 13% of consumer sales. Join the ranks of Amazon, Samsung, Netflix, and Toyota—brands that actively work on customer loyalty and espouse word-of-mouth marketing.

Okay, so word-of-mouth marketing is powerful, but, there’s a problem…

Today’s consumers are more skeptical than ever. Flashy advertisements are not enough to sway consumers to favor your products and spread the love to others. Sharing your products requires trust in your brand, and this takes time (more time than viewing a quick ad).

Here’s the good news though: The recommendation of a friend can slash the time it takes to build trust in your products. People trust their friends much more than they trust you.

So how exactly does this play out?

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