Word of mouth marketing (WOMM) is a powerful tool for businesses looking to expand their customer base. It involves encouraging existing customers to spread the word about a business’s products or services to their friends, family, and colleagues. In this article, we’ll take a look at some statistics that demonstrate the effectiveness of WOMM.
Word of Mouth Marketing Stats: Market & Trends
92% of consumers trust recommendations from friends and family more than any other form of advertising. (Nielsen)
88% of consumers trust online reviews written by other consumers as much as they trust recommendations from personal contacts. (BrightLocal)
Word-of-mouth advertising drives $6 trillion of annual consumer spending in the United States. (American Marketing Association)
64% of marketing executives believe that word-of-mouth advertising is the most effective form of marketing. (American Marketing Association)
82% of small businesses say that their main source of new business is through referrals. (Duct Tape Marketing)
85% of fans of brands on Facebook recommend those brands to others. (Syncapse)
A single word-of-mouth recommendation can be more valuable than a paid advertisement. (MarketShare)
59% of Americans have recommended a brand online. (Zuberance)
76% of people surveyed say they are more likely to trust content shared by an “average person” than content shared by brands. (AdWeek)
74% of consumers identify word-of-mouth as a key influencer in their purchasing decisions. (Ogilvy)
49% of U.S. consumers say friends and family are their top sources of brand awareness. (GlobalWebIndex)
80% of consumer decisions are influenced by word-of-mouth recommendations. (Forbes)
A study by McKinsey found that word-of-mouth is the primary factor behind 20-50% of all purchasing decisions. (McKinsey)
33% of Americans have recommended a product or service to someone via social media. (American Marketing Association)
Word of Mouth Marketing Stats: Performance & ROI
Customers acquired through word-of-mouth spend 200% more than the typical customer. (McKinsey)
A satisfied customer will tell 2-3 people about their positive experience with a brand. (White House Office of Consumer Affairs)
A dissatisfied customer will tell between 9-15 people about their negative experience with a brand. (White House Office of Consumer Affairs)
Word-of-mouth has been shown to increase marketing effectiveness by up to 54%. (MarketShare)
Word-of-mouth referrals have a 37% higher retention rate than other forms of customer acquisition. (Deloitte)
Businesses that are highly recommended are more likely to grow 2x as fast. (Deloitte)
Word pf Mouth Statistics: Summary
Word of mouth marketing continues to be a powerful tool for businesses looking to attract new customers and increase sales. The statistics listed above demonstrate the significant impact that word-of-mouth recommendations can have on consumer behavior. By providing exceptional products and services and encouraging satisfied customers to share their experiences with others, businesses can leverage the power of word-of-mouth marketing to achieve sustained growth and success.
For more WOMM benchmarks, statistics and insights please visit our dedicated Offline Advertising Benchmarks section.
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