Word of mouth marketing is an important element of peer-to-peer influence and is considered by many to be the holy grail of marketing. Our herd instinct is a powerful force in spreading new culture, ideas, behavior or products. As a result, word of mouth marketing strategy has grown in importance as all the businesses have identified the value of getting people to talk about what they do or what they offer. This strategy is considered to be right when your clients, customers, and buyers talk and tell their friends and families about your products and services. According to a recent research, word of mouth is the key driver behind a majority of purchase decisions. But there are various misconceptions attached to word of mouth marketing, which makes it difficult for investments as there is no line on ROI for the word of mouth marketing strategy. Here is a list of a few misconceptions about the word of mouth marketing strategy:
Misconceptions About Word of Mouth Marketing Strategy
Word of mouth marketing can have powerful social influence
This is a very common misconception that word of mouth is one of the most powerful forms of social influence. This is not the whole truth! But yes, it is one of the most noticeable marketing strategies. Measuring word of mouth marketing strategy can obviously help analyze peer-to-peer influence but it certainly does not cover traditions, non-verbal behavior, and social norms which can be more important factors behind driving mass behavior.
Word of mouth marketing strategy is not as important in B2B as it is in B2C
The misconception among some marketers that B2B markets are comparatively less influenced by word of mouth does not stack up with the evidence. It is just as equally important in both the markets because people in B2B organizations are also a part of the same social networks that the rest of the population are a part of.
Word-of-mouth marketing strategy is another tool of marketing
This is certainly not the truth as word of mouth is a natural form of interaction between different sets of people to form a social bond. Sometimes, factors like survival instincts and curiosity also influence the buying decisions. Therefore, considering word of mouth marketing strategy a marketing tool is not very accurate.
Word-of-mouth marketing is uncontrollable
It is a misconception that there is no control on marketing through word of mouth. It is true that what people say can’t be controlled but word of mouth marketing strategy can certainly be monitored. The strategies need to be designed or structured in such a way that it becomes quantifiable and profitable for the business.
Word-of-mouth marketing is a strategy of replacement
This strategy undoubtedly plays a very crucial role behind the success of any product or service and is in the throes of revolutionary break-through, but it is certainly not advisable to shift the focus completely on the feedback of the customers.
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