djbaxter
Administrator
I found this article interesting, not because the overall ranking was a huge surprise to me but (a) because of how strong the word-of-mouth factor was, and (b) because of the strength of the second ranking factor - online posted consumer opinions (one of the ranking factors for local search).
The true power of referral marketing and how you can use it today to grow your small business fast
Duct Tape Marketing
February 21st, 2017

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I think this is one of the reasons Facebook Marketing has become such an essential and effective part of promoting many small businesses. It's basically an online structured way of combining referral marketing and online reviews, with the word being spread by people who know and trust one another in a fast ripple effect.
The true power of referral marketing and how you can use it today to grow your small business fast
Duct Tape Marketing
February 21st, 2017

Basically, the graph shows that 90% of consumers around the world say they trust word-of-mouth from their friends and family above all other forms of advertising. Also, 70% of them trust other consumers’ opinion posted online. These numbers alone are gold and speak volumes about the power of this (sometimes disregarded) marketing channel.
Read more...
I think this is one of the reasons Facebook Marketing has become such an essential and effective part of promoting many small businesses. It's basically an online structured way of combining referral marketing and online reviews, with the word being spread by people who know and trust one another in a fast ripple effect.