It's no secret that we believe that recommendations and word-of-mouth are a big influence on purchasing decisions, so we love it when data is published that backs up our thesis.
This little tidbit comes to us from the folks at research firm S. Radoff Associates. This is a direct quote from Sandy Radoff herself:
“While offline word of mouth plays a significant role in large-ticket item purchases, the impact of online word of mouth from consumer reviews, blogs and social networks has consistently increased over the past five years,” remarks Sandy Radoff, President of S. Radoff Associates.
...and some of the numbers:
The study traces a direct relationship between brands’ presence in social media and their sales. Consumers are four times more likely to point to social media sources influencing their car purchases made in the past year than paid media (21 percent vs. 5 percent). Social media has been more influential than paid media for technology purchases as well (26 percent vs. 7 percent).
We applaud the study and the publication of it so more marketers realize the power of online word-of-mouth marketing...and reach out to us when they want to talk!