Our research shows that roughly 80% of purchase decisions are based on mentions and recommendations for both consumer and corporate buyers. This is leaving only a small percentage to spontaneous or advertising driven purchases.
Smart businesses found a way to actually leveraging the effects of the customer voice and stimulates mentions and conversations. New customers are trusting existing customers more than sales teams and advertising. The new marketing and advertising is taking those mentions and recommendations and amplifying them across the web.
As a result, successful corporate messaging is replacing blunt self promotions with authentic customer opinion which is highly trusted and leads to more sales, as well as a better brand reputation.
Society3 has carefully studied consumer behavior and buzz dynamics over the past two years and created a product that helps business teams to stimulate mentions and recommendations and then amplify them across the Internet with very high velocity. Experience with over 200 Buzz campaigns showed three interesting dynamics:
1) Velocity: Unlike traditional word of mouth, S3 Buzz spreads almost instantly and can reach millions within a matter of hours. A well designed Buzz spreads faster than traditional promotion mechanism.
2) Mentions: Customers are happy to share their opinion, but brands need to provide some inspiration and a place to share. If provided, hundreds of customers help spread the word within 24 hours of asking for support.
3) Reach: Due to the networked nature of the social web, sharing and amplifying mentions and recommendations allows a much higher reach than traditional advertising. While even the largest media outlets barely crossing the 10 Million mark, Buzz campaigns can reach 100 Million and more.
Businesses can’t just hope the old advertising paradigm comes back and people just buy because the producers say so. Successful businesses know that the customer voice is a key contributor to business growth and more revenue. Agile marketing will need to incorporate the user voice in their go to market strategy and amplify information that helps a new customer to decide.