Have you ever bought anything because a friend or family member recommended it to you?
Chances are pretty good the answer is a solid yes.
That’s because word-of-mouth marketing remains one of the most valuable and effective forms of marketing.
While that’s been the case since the dawn of consumerism, in recent years the impact of word of mouth marketing has reached a fever pitch.
It’s simple math: as more and more people become more and more active on social media, the average size of the reachable “audience” grows.
- There are 2.46 billion social media users worldwide.
- The world population is currently estimated to be 7.5 billion.
- Social media users around the globe are expected to top 3 billion in three years.
- 71% of internet users are social network users.
- In 2016, more than 81% of Americans had a social media profile.
- Weekly social networking time in the U.S. is well over 300 minutes per week.
In the past, an individual’s circle of influence might have been limited to a handful of people at the office, friends and family reachable by telephone and perhaps the occasional high school reunion or sporting event. Today, people around the world (and particularly in the U.S.) take to social media daily to share their opinions and interact with hundreds or thousands of individuals they might never have communicated with before the dawn of social media.
So what does that mean for shopper marketers, brand teams and retailers?
You may have a top notch social media strategy, but if you’re not engaging influencers… you’re missing out on a groundswell of vocal, impactful advocates for your brand. Let us know if you want to talk shop!
Sources: Statista (2017), Forbes (2014).