Word of Mouth and Influencers Marketing Stats

Word-of-mouth marketing drives a whopping $6T of annual consumer spending and is estimated to account for 13% of consumer sales.  That’s a heck of a lot – yep, I said Trillion! With a T! Now, those are some Elon Musk numbers there.

This means companies have been looking for a way to emulate the trust that comes from these forms of recommendations. It’s been found that brands that inspire emotional intensity receive 3x as much Word-of-Mouth marketing as less emotionally connected brands. This means brands have to consider how to position their marketing, product, and customer experience, to yield the most amount of interaction between customers and potential customers.

Word of Mouth Marketing and… Consumer Trust

• 88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts.
• 49% of consumers would shop online more if they felt more confident about delivery and 57% are reluctant to use a retailer again if delivery is late.
• People are 90% more likely to trust and buy from a brand recommended by a friend
• 88% of consumers placed the highest level of trust in word-of-mouth recommendations from people they know.

Word of Mouth Marketing and… Influencers

• Over the past three years, Google saw a 1500% increase in “influencer marketing” search queries
• Over 80% of marketers believe influencer marketing is effective in their strategies
• 63% of consumers between 18 and 34 years old said that they “trust what influencers say about brands much more than what brands say about themselves in their advertising.”
• 80% of consumers have purchased something via an influencer recommendation.
• 41% of customers discover new products through influencers weekly
• 22% of large purchase decisions by 18-34-year-olds are influenced by influencer endorsements.

Word of Mouth Marketing and… Brand Loyalty

• Brands that inspire a higher emotional intensity receive word-of-mouth marketing as less emotionally connected brands.
• 28% of people say that word-of-mouth increases brand affinity.
• Customers acquired through word-of-mouth promotion spend 200% more than the average customer.

Source: https://www.lxahub.com/stories/word-of-mouth-marketing-stats-and-trends-for-2023