The term word of mouth marketing may seem antiquated to some. In fact, it’s the oldest form of marketing known to man. Before there was SEO, social media, PPC and other cutting-edge digital tactics, there was the good old fashioned referral from a trusted friend or loved one.
The interesting thing is that word of mouth marketing is still alive and well, although the channels in which information is exchanged has evolved. Here are five key stats regarding word of mouth marketing that shed some light on it and put things into perspective in the modern era.
1) “Word of mouth is the primary factor behind 20 percent to 50 percent of all purchasing decisions.”
We live in an age where many consumers are inherently skeptical. It can be particularly difficult for lawyers to break through this skepticism and establish trust. But this statistic shows that word of mouth marketing enables you to build rapport with up to half of your audience.
2) “The vast majority (more than 80 percent) of Americans seek recommendations when making a purchase of any kind.”
It’s interesting to think that recommendations still play such a key role in purchasing decisions. You might think that sleek, sexy branding and a killer social media campaign would be your ticket to endless leads. But it turns out that the “word of mouth factor” is still integral to the sales funnel.
3) “49 percent of U.S. consumers say friends and family are their top sources of brand awareness, up from 43 percent in 2009.”
Again, it may seem that more digitalized mediums such as search engines and social media would be the top sources for building brand awareness. But it turns out that nearly half of consumers still turn to personal contacts. If you can build loyal brand advocates, just think of the long-term implications it can have for your lead generation.
4) “92 percent of consumers trust recommendations from other people—even if they don’t know them personally—over promotional content that comes directly from brands.”
This stat is extremely interesting. It shows us that word of mouth marketing doesn’t necessarily need to be between two people who actually know one another. In fact, it can still have a tremendous impact even if the exchange is between total strangers. This goes to show that positive reviews on Google, Yelp and similar sources can be huge for your law firm.
5) “67 percent of people say they’re at least a little more likely to purchase a product after a friend or family member shared it via social media or email.”
If you can create brand advocacy via social media or email, you can pretty much bet that it’s going to lead to more leads and clients. Painting your firm in a positive light on social media in particular can create a virtuous cycle.
Implementing the newest, most innovative marketing techniques is fine. But sometimes, the more tried and true tactics are the ones that really get the job done. These stats show us that word of mouth marketing isn’t going anywhere and is something you may want to put more of an emphasis on moving forward.