The following is a guest post by Monique Danao, a writer for CandyBar and ReferralCandy.
How do you stand out in a crowded industry?
Do you create lots of sponsored content and team up with big influencers? Or, would you spend $100,000 on ad placement?
While these techniques can help your business gain exposure, will it lead to conversions?
There’s tons of marketing advice and posts on the Internet, but have you tried word-of-mouth marketing? It’s currently one of the most effective marketing tactics.
Why is word of mouth marketing powerful?
How often do you ask for recommendations in everyday conversations? How often do you discuss brands with friends and family? I bet you do a lot.
Before we make a purchase from a new brand, we ask about the experiences of people we know. We want to get their feedback because they’re the ones we trust the most.
This makes referrals super effective. Consumers are up to 50x more likely to buy a product if it’s recommended by close friends or family. In addition, 90 percent of customers trust word-of-mouth.