Word of Mouth the Biggest Influence in B-to-B: Survey
Business-to-business sales are more affected by conversations between executives than any other marketing tool.
A survey of 700 executives found that word of mouth has the biggest influence on business purchase decisions. Those word-of-mouth recommendations happen face to face far more often than online, according to the survey, conducted by market research firm The Keller Fay Group and sponsored by experiential marketing agency Jack Morton Worldwide.
The spring 2007 survey of U.S. and U.K. executives found that 50% are highly likely to buy a product or service based on word of mouth; 49% pass on what they’ve heard to others.
The executives said that word of mouth has more than twice as much influence on their purchase decisions as advertising, direct mail or press coverage. That includes (in order): recommendations from colleagues or friends, conversation with a salesperson, participation at marketing events, conferences and tradeshows, and last, the Internet.
Fully 75% of these influential conversations happen in person; only 3% are conducted via e-mail, with text messaging and blogs/online chat each accounting for just 1%, the survey found.
“The study provides clear directives about the influence of word of mouth in the B-to-B space and the need to engage decision-makers face-to-face,” says Laura Shuler, chief strategy officer and president U.S. of Jack Morton. “Marketers need to provide a hands-on experience with the brand in a setting that’s conducive to two-way dialogue.”
Executives are chatty in their off-hours, too, making brand recommendations much more frequently than the average consumer. Business execs average 118 conversations (with 102 brand mentions) about products and services each week. The average for general consumers: 100 conversations, with 77 brand mentions. Execs’ favorite topics are financial products and services, telecommunications and technology, according to the report, “Driving Word of Mouth Advocacy Among Business Executives: The Experiential Marketing Connection.”
These “super influencers” could serve as a channel for brand-building among consumers, said Keller Fay CEO Ed Keller.
The survey was conducted in March and April; Keller Fay also interviewed 2,188 executives through its TalkTrack syndicated research service that tracks word of mouth between executives.
