Some fascinating statistics associated with word of mouth marketing. In my opinion, this is the most underestimated marketing strategy with, perhaps, the highest impact. Companies, products and services worth mentioning skyrocket in popularity due to this incredible channel. In recent years, with the advent of social media, influence is truly traveling at the speed of light.
Simply put, it you have something remarkable, people will remark. When those remarks generate sales, there’s no other channel that can come close in lowering your cost per lead and accelerating sales.
Key to this strategy is finding the key individuals that can light the fuse on your next marketing efforts. Systems like Klout and Appinions have launched, trying to identify influencers through proprietary algorithms and scores. This is a young market with a lot of opportunity.
The irony of the growth and popularity of this channel is that it is, again, bringing content strategies, including social media and blogging, to the forefront of developing word of mouth marketing and influence campaigns.