BLOG

5 Common Misconceptions About Word of Mouth Marketing Strategy

Sep 18, 2018

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:Contact US

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 becrequest proposalause 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.


To gain more insights into the word of mouth marketing strategy

cta SE

Getting Down To Business

We are offering Free Trials to all our customers or prospects who have been impacted positively or negatively by Covid-19 and are looking to connect with prospect buyers immediately.

Contact us

COVID-19

Featured

Overview

Buyers

Diagnostic Test Kit

Additional Resources
Contact

A LOOK INTO THE FUTURE OF THE FOOD AND BEVERAGE INDUSTRY AFTER THE COVID-19 PANDEMIC

Identifying the Top 100 Coronavirus (COVID-19) Test Kit Manufacturers Across Regions

Sourcing and Procurement Market Intelligence Services

Products and Tools

Featured

Services Overview

Category Market Intelligence

Supply Market Analysis

Low-Cost/Best-Cost Country Sourcing

Benchmarking

Spend Analysis

Cost Modeling and Should-Cost Analysis

Total Cost of Ownership (TCO) Analysis

Supplier Risk Analysis

Supply Chain Risk Assessment

Supplier Sustainability Assessment

Commodity Price Forecasting

Category Management

Supplier Negotiations

Contract Management

Procurement Store

Purchase Ready-to-use Reports

SEinsightsTM

Our Robust Procurement Platform

BizVibeTM

Suppliers and Buyers Marketplace

SUPPLY MARKET ANALYSIS FOR A METAL MANUFACTURING COMPANY HELPS ACHIEVE ANNUAL SAVINGS OF $15 MILLION

Industries

Industries Overview

Automotive and Tire

Banking, Financial Services and Insurance

Biotechnology, Pharmaceutical and Life Sciences

Chemicals

Energy

Food and Beverage

Industrial and Manufacturing

ICT, Media and Entertainment

Mining, Metals and Minerals

Retail and CPG

Transportation

INCREASING LOCAL PROCUREMENT BY 28% FOR A COMPANY IN THE METALS AND MINING INDUSTRY – A CASE STUDY BY SPENDEDGE

Resources

Featured

Resources Overview

COVID-19 Resources

Blogs

Case Studies

Whitepapers

Webinars

Press Releases and Media Mentions

5 KEY CORONAVIRUS RISK ASSESSMENT STRATEGIES TO OVERCOME HEALTHCARE SUPPLY CHAIN CHALLENGES

IDENTIFYING STRATEGIC PURCHASING PRACTICES FOR A COMPANY IN THE US FOOD SERVICE INDUSTRY | SPENDEDGE’S LATEST SUCCESS STORY

Clients

Featured

Clients Overview

Who We Serve

Case Studies

SUPPLY CHAIN MANAGEMENT HELPS AN IMPORT AND EXPORT INDUSTRY CLIENT ENHANCE SUPPLY CHAIN VISIBILITY

REALIZING SAVINGS OF $15 MILLION IN PACKAGING SPEND FOR AN FMCG CLIENT – PACKAGING SOURCING STRATEGY

About Us

News

About SpendEdge
Why SpendEdge?
Vision, Mission and Values
Clients
Social Impact
Global Offices

Press Releases and Media Mentions

Upcoming Events & Webinars