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LBRY Claims • word-of-mouth-and-consumer-behavior

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6 Jan 2021 16:38:38 UTC
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Word of Mouth and Consumer Behavior
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Word of Mouth and Consumer Behavior

Word-of-Mouth (WOM) is the primary factor behind 20% to 50% of all purchasing decisions. Its influence is greatest when consumers are buying a product for the first time or when products are relatively expensive (factors that tend to make people conduct more research, seek more opinions, and deliberate longer than they otherwise would). And its influence will probably grow because the digital revolution has amplified and accelerated its reach to the point where word of mouth is no longer an act of intimate, one-on-one communication. Today, it also operates on a one-to-many basis: that is, product reviews are posted online and opinions disseminated through social networks. Some customers even create Web sites or blogs to praise or punish brands.

Word-of-mouth is triggered when a customer experiences something far beyond what was expected. Slightly exceeding their expectations just won't do it. You've got to go above and beyond the call of duty if you want your customers to talk about you.

Don't depend on your staff to trigger word-of-mouth by delivering "exceptional customer experience." Good customer service is sporadic, even in the best establishments. The customer who receives exceptional service today can't be sure their friends will receive the same tomorrow, so even the most well-served are unlikely to put their necks on the line and make a recommendation. Deep down, customers know service comes from an individual, not from an establishment. And even the best people have bad days.

Physical, nonverbal statements are the most dependable in triggering word-of-mouth. These statements can be architectural, kinetic or generous, but they must go far beyond the boundaries of what's normal. If you don't want to be average, why do you insist on being normal?

Word-of-mouth is the most persuasive and most common way that people make buying decisions.

However, proactive word-of-mouth is the superior approach because it requires you to become strategic versus reactive: waiting and hoping for the “word to spread” on its own.

A CMO should work to increase word-of-mouth via quality products and services, awesome experiences, sharable content, user-generated content, influencers, community building, events, and engaging stories.

How do we make our customer so enthralled with your product or service that they are compelled to find a way to bring it up in conversation in-person or to share their experience online?

Telling a story - when asked to - is one thing. Telling a story without being asked is something else entirely. It requires a deep understanding of people and the science of buzz.

To make sure the word-of-mouth is proactive as m
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