Home The Bulletin Word-of-Mouth: One of the biggest business accelerators

Word-of-Mouth: One of the biggest business accelerators

by Out and About Mag.

For the last ten (10) years, business models have been taking big leaps toward profits, with marketing strategies primarily driven by new technologies. However, word-of-mouth remains the biggest driver of business even today. People share ideas, content, or experiences that reinforce their values or sense of identity, which is good for their "personal brand".

Tech-savvy consumers share games or products on smartphones because they value the people they surround themselves with and want to support friends and peers by sharing content that resonates with them.

word-of-mouth marketing SHAREit

When Austrian psychologist Ernest Dichter laid out key motivations for people to talk about brands and products, product involvement (33%) and self-involvement (24%) were revealed as key factors. When consumers tell their own stories, they cover what is important to them to say to the world and amplify their voices.

There's no better marketing than friends and family recommending products to their peers. According to Kantar Media, 93% of people trust recommendations from friends and family as brand news and information source. Additionally, Ogilvy's research also shows that 74% of consumers identify word-of-mouth as a key influencer in their purchasing decision. Social media has made conversations about products and services much easier, but real WOM marketing happens both on and off the web.

As consumers are engaging on mobile and digital channels more than ever before, app platforms like SHAREit, a peer-to-peer content-sharing platform, have witnessed its users share huge volumes of content, including files, videos and games. The app's popularity is propelled by referrals that users have given to one another and has led it to become an effective vehicle for growth among brands in onboarding high-value users in emerging markets.

Marketing is all about the people. To enable real and successful marketing, businesses must tie their strategic marketing plans to a roadmap that reaches large groups of people. Through SHAREit's distinctive influencer recommendation model, the platform has helped drive massive high-quality user acquisition and translated it into in-app purchases for e-commerce platforms.

Currently, transactions are usually conducted on social networking platforms. The main driver of social commerce is the core idea of sharing, which would be for both online and offline, as social commerce is highly dependent on community user interactions and word of mouth.

Whether it is product recommendations, sharing the best pricing, or even deal coupons with friends and family, online interactions are built on offline relationships. It utilises peer recommendation, also known as word of mouth, to facilitate trust and engagement between merchants and customers.

Studies by marketing expert Jonah Berger have found two driving factors that power word-of-mouth marketing. These factors are social currency and triggers. Social currency relies on exclusivity – getting exclusive information from a peer or hearing about a unique game or a hole-in-the-wall restaurant satisfies consumers' need to belong to an exclusive group. Triggers are a natural social mechanism that reminds us about a brand or product even when we don't see advertising. In this way, word of mouth can also be a way to improve existing customer engagement strategies.

Word-of-mouth marketing will continue accelerating overall growth because it drives a high quality of user installations, recommendations, and LTV, which brands look at in user interactions and user journeys.
Because SHAREit is based precisely on the principle that sharing can magnify that basic social habit for driving brand growth through consumers, brands can still leverage word-of-mouth marketing to build genuine and meaningful customer engagement with broad audiences. Eventually, customers will become brand custodians through trust and meaningful connections rather than advanced techniques.

 

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