We all inherently love word-of-mouth referrals– they are a reflection on our clinical effectiveness (and empathy), and also seem to drive a significant portion of any physical therapy clinic’s caseload.
But because we don’t really see these things as they happen, we also tend to view word-of-mouth marketing as a vague process that goes on behind some mystical curtain. We tend to pretty much ignore word-of-mouth in our marketing strategy, instead choosing to focus on less tkcert exam effective strategies such as paid advertising and direct mail. However, many smart people in business sectors outside of physical therapy are starting to measure and track the word-of-mouth process, and are finding out two interesting things:
- Word-of-mouth marketing is the most effective type of marketing there is, and
- It’s a lot easier to monitor and capitalize on than previously thought
To illustrate these two points, here are nine statistics (and their sources, which are highly recommended reading) that should make you think hard about the marketing strategies you’re currently employing, and how measuring and capitalizing on word-of-mouth marketing can affect your physical therapy clinic’s bottom line.
1. Fewer than half of all people still find traditional paid television, magazine, and newspaper advertisements credible. – Nielsen
2. 70 percent of people put a high level of trust in online customer reviews. – Nielsen
3. Word-of-mouth marketing is the primary factor behind 20-50% of all purchasing decisions.- McKinsey
4. 49% of U.S. consumers say friends and family are their top sources of brand awareness, up from 43% in 2009.- Nielsen
5. A recommendation from a close friend or family member is up to 50x more likely to trigger a purchase than lower-impact marketing techniques.- McKinsey
6. Marketing induced consumer-to-consumer word of mouth (i.e. word-of-mouth that is facilitated by the business entity) generates more than twice the sales of paid advertising.- Harvard Business Review
7. Getting your customer evangelists
tkcert.com(i.e. the people who are most willing to refer you to friends and family) to complete online reviews can really pay off: actively asking your most satisfied customers to post product reviews can raise average review scores from 3.5 out of 5 to 4.5 out of 5.- Ad Age
8. A customer evangelist can be your brand’s best friend. The average customer evangelist spends 13% more than the average buyer and refers business that equals 45% of the money they spend.- Satmetrix
9. If your average customer evangelist is your best friend, then your top evangelists are a gold mine of hidden wealth: the biggest advocates among your customer promoters generate 10x to 30x the amount of revenues and profits they would generate simply from purchasing your products and services.- Harvard Business Review
Interested in learning how StriveHub Reach can help your physical therapy clinic monitor and grow its word-of-mouth network? Click below and sign up for a demo.