Iconic Strategies: 64% of Marketing Executives Believe Word of Mouth is Most Effective Marketing Style
As reports suggest, word of mouth is the most effective form of marketing. Simon Reynolds MD of Iconic Strategies outlines the two main benefits of WOMM.
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NORWICH, ENGLAND, August 06, 2014 /24-7PressRelease/ -- According to Nielsen, 92% of consumers believe recommendations from friends and family is more effective than any form of marketing or advertising. The Word of Mouth Marketing Association (WOMMA) and the American Marketing Association (AMA) found in a recent study, that 64% of marketing executives indicated that they believe word of mouth is the most effective form of marketing. However, only 6% have said that they have been able to master it to use its benefits.
A great deal of research has found that word of mouth is more effective than other types of marketing. Whether compared to traditional advertising, media mentions or promotional events, word of mouth is more useful in creating new users and customers. McKinsey suggests that word of mouth generates more than twice the sales of paid advertising in categories as diverse as skincare and mobile phones.
Not surprisingly, people trust friends more than they trust marketing campaigns. Marketers always say the product is great. Because marketers always say the product is wonderful, people are less inclined to believe them. Friends however, will tell is straight. A friend will say if the product is good, or bad, and as a result, people are more likely to believe the recommendations by word of mouth.
2. Better Targeting
Word of mouth is also more targeted and much more focused. People will only tell you about things that they think are relevant to your interests. Word of mouth is like a searchlight that goes through a social network, finding the most interested receivers for a given piece of information.
"Word-of-mouth advertising is important for every business, as each happy customer can steer dozens of new ones your way," said Simon Reynolds, Managing Director of Iconic Strategies. "And it's one of the most credible forms of advertising because a person puts their reputation on the line every time they make a recommendation and that person has nothing to gain but the appreciation of those who are listening" added Simon Reynolds.
Iconic Strategies is an ambitious outsourced sales and events marketing company based in Norwich. The firm specialise in a unique marketing approach to help a wide range of clients acquire quality, long-term customers for their business throughout the UK. Iconic Strategies partner with supplies and clients who hold themselves accountable to setting a higher standard within their industry. Through the firm's event based direct marketing campaigns, they will guarantee their clients a higher ROI than traditional (outbound) marketing techniques. Comparative to the benefits of word of mouth, direct marketing methods used by Iconic Strategies are trusted by clients and consumers and allow for better targeting through events and promotions.
Iconic Strategies are a Norfolk based sales and marketing company who specialise in providing direct marketing solutions. Working with clients across many industries, the firm pride themselves in accurately conveying their clients brand message through very campaign. Iconic strategies friendly sales team are experts in building strong customer relationships and the firm promises a high return on investment to all their clients.
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