74% of consumers identify “word of mouth” as a key influencer in their purchasing decisions. That means that at least 7 out of 10 people looking to purchase the type of thing you sell will look to their friends for advice (and by advice I don’t mean seeing that a friend clicked “like” on a post as this new study has shown). But that’s not all, according to another study those 7 people are 4 times more likely to purchase when a friend has recommended it than if they didn’t.
So the majority of people don’t trust brands they don’t know. They trust their friends personal recommendations. And when their friends make the suggestion they are much more likely to buy.
Now which strategy do you think is more effective?
Marketing to the 26% that aren’t even likely to buy OR create something so good, so generous and worth talking about that your customers feel the need to share it with friends?
Also published on Medium.