What is it?
Yelp might be one of the best-known online review sites, but it’s not the only one out there. Although many consumers do visit Yelp to post reviews or read reviews of different businesses, some concerns about the site have come up in recent years. As a business owner, it’s important to keep this in mind. While you can get an idea of how your company is doing and how satisfied customers are based on Yelp reviews, you shouldn’t rely solely on the site for determining customer satisfaction or loyalty.
According to Nielsen, “84% of global consumers believe recommendations from friends and family are the most trustworthy sources of information about products, up from 78% in 2007.” Word of mouth has made monumental strides in recent years and is overtaking the throne that traditional advertising and public relations has held. With the boom of review sites and social media platforms, industries are beginning to adapt to the constantly changing landscape that is word of mouth. In order for business to continue growing, here are three steps to success:
Let’s start with a brief description of what Word of Mouth advertisements means. Word of Mouth advertisements is an unpaid form of promotion in which satisfied customers share with their family and friends how much they like a business, service or product. Every business knows the importance of word of mouth advertisement as each happy customer might steer potential customers towards them. Besides knowing this, here are 4 facts you didn’t know about word of mouth advertisement.
Customer loyalty is one of the most important components of a successful business. When you know that you can count on your customers coming back for repeat business, your company can enjoy a steady stream of profits. Loyal customers are also the ones who are likely to spread the word about your company and recommend it to everyone they know. If you’re struggling to boost customer loyalty, consider trying the following tips.
Labeled by Nielsen as the most credible source of recommendation, word of mouth marketing is now considered to be the most effective form of promotion. It surpasses old ways of marketing and advertising by creating trust, long term value and brand building. Cheaper than T.V. ads, newspaper articles or radio spots, word of mouth marketing is a very important tool for businesses desiring to grow while spending few marketing dollars.