Do you hear what I hear? Word of mouth marketing
Ninety percent of the population is following 10 percent of the population of influencers.
I’ve never been happier to see a year in my rearview mirror. But before we bid 2016 adieu, a moment of silence for those we’ve lost:
Facts. Truth is dead.
Usage of the word “post-truth” skyrocketed with the “Brexit” referendum and the US presidential election – so much so that Oxford dictionaries declared it their 2016 international word of the year.
The dictionary defines “post-truth” as “relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief.”
Oxford may have just stumbled upon this trend, but savvy marketers have been cashing in on the value of opinion for some time.
“Eight out of 10 Americans think advertisers lie. Yet seven out of 10 trust other people like themselves,” said Ted Wright, CEO of Fizz, a global leader in word of mouth marketing. “Ninety-percent say word of mouth is the number one driver of product selection.”
During his keynote address at the recent CMO Summit, Wright said an unpaid network of influencers drives word of mouth marketing. These influencers like to try new things, tell their friends about them, and are ‘intrinsically motivated’ to do so.
“The influencers think, ‘I know this about you. I know this about this thing. I’m going to get you two together. I’m not getting paid to do this. I just think it is fun,’” said Wright.
His description hits close to home. I’m a movie addict who sees most films opening weekend, and often posts reviews online. My friends and family — some of whom live in smaller markets — will ask what I think of movies as part of their decision-making process. They trust me more than the critics. I suppose I’m an influencer in that realm.
My friend Amanda* who has a personal training business often recommends health and beauty products on Facebook to her followers. She doesn’t get any kickback from the companies (although she probably should); she simply enjoys sharing her knowledge and experiences.
“Ninety percent of the population follows the 10 percent of the population that are influencers,” said Wright. And marketers are targeting those influencers so they can spread their messages via word of mouth at an incredible ROI.
And we, the 90 percent, owe it to ourselves to fact check our influencer sources, especially in a post-truth world. 2016 is proof-positive of that.
*Name changed to protect the buff.
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