It is always amazing when you look back at all the technology we engage with that Word of Mouth often remains the most effective tool in building trust, and developing relationships in business. Despite all the tools at our disposal the research done by Marketing Charts.com shows that the best tool we all possess for business growth and expansion continues to be word of mouth. Whether in the B2B or B2C marketplaces the influence that peers give to products, brands, and services is invaluable in connecting with todays consumer.
Which B2B Lead Acquisition Channel Converts Best? Is it Word of Mouth?
Notes: Word-of-mouth works in B2C marketing and it sustains its power in the B2B world too, according to a Marketo analysis of lead-to-opportunity conversion rates across its customer base. The analysis shows that referrals have by far the highest conversion rate, almost 4 times higher than the 10 channels examined. Inbound marketing also demonstrates an above-average conversion rate, while sales prospecting fares well below the average.
Marketo’s analyst notes that while email and nurture shows the poorest conversion rates, that’s due to their not traditionally being acquisition sources.