If you were ever unsure of the power of word of mouth (WOM) consider these following facts:
• Recommendations from family and friends trump all other consumer touchpoints when it comes to influencing purchases.
• According to a global Nielsen survey of 26,486 Internet users in 47 markets, consumer recommendations are the most credible form of advertising among 78% of the study’s respondents. (Nielsen, “Word-of-Mouth the Most Powerful Selling Tool”).
• Online social network users were three times more likely to trust their peers’ opinions over advertising when making purchase decisions.
• When asked what sources of information they are “very likely” to consult before making a decision about their entertainment options, 62% named Web sites with user reviews as their top choice, even beating out a knowledgeable friend (59%).
• 11% of retailers reported a 20% or more overall increase in conversions as a result of adding reviews to their sites, 21% reported an 11% to 20% increase and 5% reported a 1% to 10% increase.
Need more reasons to put testimonials and consumer comments on your website?
Here’s one more:
• By 2020, 84% of marketers agree that building customer trust will become marketing’s primary objective, and 82% agree that collaboration with customers will prevail over marketing.