1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
Business or Entrepreneurial questions or obstacles? BizWarriors is completely FREE - paid for by advertisers and donations. Click here to join today! If you're new to the BizWarriors Forum, we highly recommend that you visit our Guide for New Members.

The Power of Referral Marketing

Discussion in 'Traditional Marketing and Promotion' started by djbaxter, Feb 28, 2017.

Share This Page

  1. djbaxter

    djbaxter Administrator Moderator Member

    522
    190
    43
    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

    WOM-statistics_Nielsen-1024x576.png

    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.
     
    Julia Sta Romana likes this.
  2. azgold

    azgold Moderator MVP Member

    802
    280
    63
    I believe that word-of-mouth advertising always has been and always will be the best form of promotion. For that to happen, you have to offer a terrific product or service and give good customer attention. Takes time to build up a brand and reputation but totally worth it, in my opinion.

    Just looking at the graph you posted, DJ, I see editorial content is in the number four position. I'm wondering if that has or will change with the advent of native advertising and "fake news". Sadly, that could become less trustworthy in the eyes/minds of the consumers.

    I think you're right. People trust viral content. They think that if a ton of other people like it, it must be good.
     
    Julia Sta Romana and djbaxter like this.
  3. Alan Potts

    Alan Potts Member

    5
    0
    1
    Great article Dear.
    Thanks for sharing a great piece of information.
     
  4. Julia Sta Romana

    Julia Sta Romana Member

    23
    28
    13
    I think this is why Facebook introduced a crowdsourcing feature. So people can recommendations from their friends who have actually used the product and service. A form of word-of-mouth advertising on social media.
     

Share This Page

Loading...
Similar Threads - Power Referral Marketing Forum Date
Top Five Entrepreneur Empowerments General Business and Entrepreneurship Jun 3, 2016
First Powerball Lottery Jackpot Winners Confirmed General Discussion Jan 15, 2016
What Will You Do When You Don't Win the Powerball? General Discussion Jan 12, 2016
According to math, it's not worth risking $2 to play for the $800 million Powerball jackpot General Discussion Jan 9, 2016
Power of the Mastermind Planning Your Business Dec 8, 2015