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It’s hard to imagine a time when items weren’t available to purchase online or through a mobile app, but we’re only two decades into the eCommerce era. This instant-access age is book-ended by static brick-and-mortar stores and the unforeseeable future that awaits all new trends. According to eMarketer, eCommerce purchases are predicted to account for 8.8% of the total retail market worldwide by 2018.
Coming off the heels of the #WOMMASummit, we’re taking a deeper look at the value of word-of-mouth marketing (WOMM) and exactly what it means beyond social media. While increasing brand awareness is a natural outcome of WOMM, when does brand awareness transition to brand preference and revenue?
Marketers at B2B and B2C companies often times have different objectives when trying to reach their target audience. A B2B marketer spends substantially more time on thought leadership content, while B2C marketers aim to connect to their consumers on a brand level that is entertaining and “top of mind, tip of tongue.” Regardless of audience, the ultimate goal for marketers is to drive revenue. And whether your company provides enterprise solutions or toys for kids, the use of referral marketing software can dramatically increase existing customer engagement and new customer acquisition.
Word-of-mouth drives billions of dollars in sales every year, and the holiday sales season presents a huge opportunity for innovative companies to empower their happy customers to help them to build brand preference and hit revenue goals.
Gamification is becoming more and more popular as marketers create better brand experience through gaming, loyalty programs and behavioral economics, with the aim of driving user engagement. Over 70% of Forbes Global 2000 companies surveyed said they planned to use gamification for the purposes of marketing and customer retention. It’s, at times, an addictive interaction for customers that yields results in the form of more sales, improved experiences, and intensified brand loyalty. Which is why it’s a great way to engage brand ambassadors.
Word-of-mouth interactions have been impacting businesses for as long as commerce has been around. In today’s digital world, word-of-mouth opportunities are always at our fingertips, so much so, that we pulled some stats to show the value of this age-old phenomenon. The Value of Word-of-Mouth Marketing infographic below shows exactly what can happen when modern businesses use robust, scalable, and automated referral marketing software to take advantage of this high value, low cost marketing tactic.
All businesses, small or large, use certain tools that give their marketing, sales, engineering and operations teams a boost. From Hubspot to Slack to Salesforce to Pivotal Tracker, these tools can improve the day-to-day efficiency of your teams. Here are four business tools that you should be using right now:
Net Promoter Score and referral marketing work hand-in-hand to take your business to the next level. We’ve broken down the key points you should know about each, and how they work together to increase your revenue.
With word-of-mouth (WOM) driving billions of dollars in sales every year, it’s more important than ever for companies to focus on WOM and referral marketing efforts. Here are 8 stats about word-of-mouth marketing that you need to know right now.
Many brands are venturing outside of their office and within their network to find early adopters that can take out some of the mass marketing legwork by driving word-of-mouth. For many companies, the ideal marketing campaign is self-sustaining — an organic ripple that migrates throughout target markets and accurately represents your brand.