In this post, we discuss Word of Mouth Marketing Statistics 2022
You may market your company and generate sales in a variety of ways. Paid search, organic traffic, social media marketing, video marketing, SEO, etc.
But, what about word-of-mouth marketing?
It may surprise you to hear that it is responsible for $6 trillion in annual consumer expenditure worldwide, accounting for 13% of all consumer sales.
These are some great numbers on word-of-mouth marketing, and we’re about to share even more. WOM marketing is a free kind of advertising that relies on devoted consumers to circulate information about your services or products in many circumstances.
WOM is a close cousin of viral marketing on the internet, and it works in two ways:
Organic word-of-mouth (WOM) happens when consumers become brand champions because they’ve had a positive experience with the product, are consumers, and want to express their enthusiasm and support.
Amplified WOM marketing strategy: In amplified WOM, a company will start a campaign aimed at encouraging or speeding up word-of-mouth and attracting new customers.
Keep reading this article for some WOM marketing statistics that demonstrate how effective it is and why many people believe it to be the best of marketing.
Table of Contents
Facts and Figures on Word of Mouth Marketing
- Live Chat Statistics: What Is The Average Chat Time?
- Browser Statistics, Facts, and Figures You Never Heard Before
- Internet Statistics & Facts: A list of Internet, eCommerce, Hosting, Mobile, and Social Media statistics.
- Social Media Statistics You Need To Know: What Percentage Of People Use Social Media?
Conclusion: Word of Mouth Marketing Statistics 2022
A potent marketing channel that performs incredibly effectively for all types of businesses is word-of-mouth marketing. WOM will always assist you, no matter what industry you’re in.
The following are some of the benefits of word-of-mouth and influencer marketing:
You can raise sales without spending money on advertising: Numerous different brands now rely on word-of-mouth promotion to expand their fan base and improve sales rather than investing money in advertising.
Rather than creating a commodity, it creates a community: Word-of-mouth marketing is a powerful tool for connecting with customers.
Customers that are more involved are more likely to make repeat purchases and refer your business to their family and friends.
Greater funding, more freedom: Customer loyalty & repurchases make your company more appealing to angel and venture capitalists.