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<ul><li><keyword id="6948772" type="UNKNOWN" weightage="20" keywordseo="shivjeet-ghatge">Shivjeet Ghatge</keyword>, CEO &amp; Co-founder, <keyword id="9354324" type="UNKNOWN" weightage="20" keywordseo="StepSetGo">StepSetGo</keyword> writes how <keyword id="2934296" type="COMPANY" weightage="20" keywordseo="word-of-mouth">Word of Mouth</keyword>, a conventional tool continues to sustain in the unconventional world of social media marketing.</li><li>He suggests how WOMM can become an integral part of the sustainable growth of a brand. </li></ul>In the hustle and bustle of the social media world as onlookers, we are often attracted by the lives of influencers. They are continually showcasing their purchases, experiences and not to forget brand associations, making us want to own all those things and more. Personally, even I have succumbed to these enticing portrayals. It only redefines the power of Word of Mouth, a conventional tool in the unconventional world of social media marketing. In simple words, <keyword id="9953056" type="UNKNOWN" weightage="20" keywordseo="wom-marketing">WOM marketing</keyword> is getting positive experiences of using the brand, product, or service of the customer out during social interactions or conversations with friends, family, or on social media. It is the most organic form of the initial impression that a brand can bring out without having to invest any money. According to recent studies, WOM generates two times more sales than paid ads. Experts say that it can influence consumers at every stage from the initial consideration, on-going evaluation, to the moment of purchase. In short, WOM goes the extra mile as compared to advertising. It is driven by what friends, family, or peers feel, creating an everlasting imprint about the brand. We live in times where one is bombarded with information about the brand from every possible direction. The target audience has matured immensely over the years and refrains from falling prey to billboards, TV commercials, or unbelievable offers. The consumer is aware of all the hacks that a brand owner is trying to sway them. This upswing of advertising and marketing tactics in recent times has only declined the recall value for the brands in the real sense. However, it has led the customer to look for a relatable source of information that is as unbiased as possible. WOM plays a significant role here, right from introducing the product to building brand loyalty. To be precise, let's say a consumer is providing positive information to the next consumer and so on, creating a chain of endorsement for the brand. Business owners have realized this potential WOMM holds and have quickly adopted the tool in every possible way to create as many brand influencers as possible. The fact is that the consumer is in control today of what they want, how they want it and when they want it. Partnering with the consumer is not an option anymore for the brand; it is the need of the hour. An inside view of the brand to the consumer will create a win-win situation for both. It is only wise that we realize the changing dynamics of the rising power of consumer control and make them an essential arm of the organization’s messages through word of mouth. Let us look at how WOMM can become an integral part of the sustainable growth of a brand. Clear articulation: When people endorse, they are not sharing the tagline or a jingle with their best friend. They are merely sharing a fair opinion about the service, product, or brand. Having clarity and defining the language is vital to replicate seamless messaging through WOM. However, the consumer will choose a style that will be more reliable and convincing. Recognize your audience: It is crucial to classify, inform and encourage influencers thoroughly. Consumers who already talk about the brand should be used to spawn more WOM for the brand. Recognizing and acknowledging the users and people who unfailingly speak about the brand is the best way to gain affinity and a positive WOM. Engage end to end: The next step is engaging with your customers. Be a part of conversations, reply to comments, address issues, and acknowledge the messages. Engaging with customers is a passive yet active way of achieving a strong following. Don’t just build customers; aim at creating a connection with them as this leads to incredible insights. Consumers appreciate when their favourite brand interacts and connects with them. It is a gesture that helps in forming a long-lasting loyalty leading to exponential growth. For better engagement, connect with social media influencers and product reviewers. A useful review by famous and influential personalities helps lift your online reputation, attracting more attention to your brand. Rewarding &amp; acknowledging: An event or an experience usually triggers word of mouth. Gifts, excellent service, and added benefits, along with a quality product, adds to the overall appeal of the brand. These triggers create a striking recall value for the brand and give customers good talking points. Additionally, expressing gratitude and rewarding the consumer is nothing but nurturing the organic influencer of the brand that skyrockets WOM. Being a start-up entrepreneur, I feel while building a brand, creating a user base that is organic and loyal is one of the key growth drivers. WOM plays a measurable role in achieving growth with defined numbers at every junction. WOM is like an old wine in a new bottle, and one cannot ignore the role it plays in building a sustainable brand. It is only wise to consider WOMM along with other growth drivers of the communication mix. Go ahead and get people talking about your brand and your business. That’s the easiest, quickest, and most powerful way to grow! - By Shivjeet Ghatge, CEO &amp; Cofounder, StepSetGo

The power of dialogue: How Word-of-mouth has become a powerful marketing strategy in the era of social media

<ul class="summary-list"><li>Experts say millennials face an uphill financial battle.</li><li>But well-off millennials say they're in their spending era.</li></ul>Not every millennial is screwed. Some of us are in our splurge era.<a target="_blank" href="https://www.businessinsider.com/boomer-millennials-debt-financial-security-interest-rates-recession-savings-2023-11">Doom-and-gloom headlines</a> about US millennial wealth aren't painting the full picture. Despite student-loan debt and rising interest rates, <a target="_blank" href="https://www.businessinsider.com/more-millennials-own-their-own-home-gen-z-still-renting-2023-4">51.5% of millennials now own homes</a>, and if my group texts are any indication, people in this generation are itching to experience the finer things in life.In other words, well-off millennials — or WOMs — exist and they're spending.As we grow older, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/baby-boomers-vs-millennial-ownership-stocks-real-estate-cash-economy-2023-7">get higher paying jobs</a>, and some of us <a target="_blank" href="https://www.businessinsider.com/net-worth-dink-child-free-couples-win-the-economy-2023-10">consider forgoing children</a>, it's no surprise that our tastes are changing and becoming elevated, sometimes in unexpected ways compared to earlier generations.Successful US millennials seem willing to spend money on things that generally fall into three categories: quality, beauty, or things that save them time.<h2>Quality</h2>Overwhelmingly, when I asked friends and colleagues what they splurge on, they talked about investing in quality items, especially in terms of comfort.They're no longer buying cheap winter boots when the expensive version will actually keep out the cold. Homes that were once decorated with Ikea furniture are now decked out in built-to-last brands. Shirts that disintegrated within a few wash cycles are swapped out for designer duds that make them look and feel good."There comes a point in every man's 20s where they need to rent a wood chipper for all the American Eagle shirts they have worn for the past decade," one male colleague told me.<div type="image" title="man businessman wearing wool scarf coat gloves on phone" height="983" width="1473" msid="105313191" hostid="261" sizebytes="193388"></div>Julia Mills is a 30-year-old millennial and middle-school English teacher based in Canada who posts about <a target="_blank" href="https://www.tiktok.com/@beingjulia?lang=en">fashion on TikTok, where she has more than 660,000 followers</a>. Mills' videos often focus on ways millennials can update their wardrobes. She said she leans toward upgrading to quality products that will last for years, like a good coat or new jeans."It's definitely a slow process — you can't overhaul your closet overnight," Mills said, adding that it's good to have those splurge pieces if they fit into your lifestyle and budget.Fashion aside, well-off millennials are also spending on smaller luxuries, such as high-end bedding, flight upgrades on vacations, and nicer hotels — or something as small as <a target="_blank" href="https://www.businessinsider.com/rich-millennials-buy-homes-start-families-create-new-status-symbols-2023-8#they-splash-out-on-pricey-hand-soap-4">fancier soap</a>.At the same time, US millennials are mindful of how their purchases affect the climate, which wasn't necessarily top of mind for previous generations. The people I spoke to say they're buying higher-end products — whether new or secondhand — with the intention of making those items last longer to produce less waste.Julie Sousa — a millennial who posts about interior design and DIY hacks <a target="_blank" href="https://www.tiktok.com/@the_avantgarde?lang=en">to her 2 million TikTok followers</a> — said that social media has educated consumers about concepts like sustainability. Sousa said many of the comments she gets on Instagram and TikTok are from people asking how to avoid waste and plastics."The more we learn what we're putting in our homes, the smarter consumers we become," Sousa said.<h2>Beauty</h2>The youngest millennials were born in 1996 — so they're just a few years away from hitting their 30s.Those of us who are already there are worried about what time and gravity are doing to our bodies.Millennials I spoke to said they were spending money on dermatologist consultations and prescriptions, fillers, Botox, eyelash extensions, and microneedling."Lots of people are doing bougie things to their faces," one friend in Wisconsin told me.I fall into this camp myself. I have a dermatologist I swear by and a skin regime that includes prescription products you can't find in the aisles of Sephora. And like many of my peers, I'm not scared of one day going under the needle and getting Botox, largely thanks to celebrities and influencers being more open about their own procedures and as technology and techniques rapidly advance.Dr. Lisa Chipps, a California dermatologist, said her patients are more likely to invest in higher-quality products and procedures such as preventive Botox, laser treatments, and lip fillers.<div type="image" title="women millennials getting treatments dermatology face and skin" height="1245" width="1868" msid="105313192" hostid="261" sizebytes="125268"></div>"Twenty years ago, it was kind of a mystery what happened in a dermatologist's or plastic surgeon's office," she told Insider. "Now people are more aware of what their options are, partially because of social media."For many millennials, undergoing these kinds of antiaging procedures is the norm, thanks in part to our new work-from-home culture."The remote workforce now has the ability to have a procedure, still work, but not have to commute two hours back and forth to their job," Dr. Gregory Greco, a member of the American Society of Plastic Surgeons, said. He added that this age group isn't necessarily embarrassed about having a procedure done, but they use working from home as an opportunity to heal more privately.Most beauty consumers are still women, but men are getting in on the action now, too. Both doctors said they've seen a rise in millennial male patients coming in for consultations on getting Botox or fillers.That said, the doctors stressed that while these kinds of interventions may be all over your social-media feed, they're still medical procedures and should be taken seriously."Even though the convenience is there, there are risks associated with it," Greco cautioned. "Make sure you're choosing a practitioner who is competent and you've done your homework."<h2>Time</h2>The older you get, the less time you have.Children, work, aging parents, and other household responsibilities loom large. The average millennial is now entering their "<a target="_blank" href="https://www.apa.org/topics/families/sandwich-generation">sandwich generation</a>" era and willing to spend lavishly to have more time to themselves.Colleagues and friends said they're spending money on house cleaners, babysitters, elder-care workers, dog walkers, and smart-home features.<a target="_blank" href="https://www.thumbtack.com/">Thumbtack</a>, a website where consumers can find professionals to hire for various tasks, said it's seen an increased demand year over year for house-cleaning services (up 11%), lawn mowing (up 15%), furniture assembly (up 31%), and gardening (up 32%).<div type="image" title="woman using phone while putting together furniture at home DIY" height="1063" width="1567" msid="105313193" hostid="261" sizebytes="71098"></div>David Steckel, Thumbtack's home expert, said many millennials feel less shame in hiring help than previous generations, in part because they know what their time is worth."It's more cost-effective to get someone to do it for you," he told Insider. "There's a whole 'do it for me' movement happening now."If they're not spending money on products or services, these millennials are investing with an eye toward retiring early and financial freedom later in life. While it may go against conventional wisdom, millennial retirement actually looks <a target="_blank" href="https://www.businessinsider.com/personal-finance/millennials-gen-z-retirement-pension-baby-boomers-vanguard-money-2023-10">rather rosy</a>."Millennials are a little more willing to take risks when it comes to actually investing their money, whereas the mindset for other generations was 'Let me hide my money under my mattress to save it,'" Tiana Patillo, a financial advisor manager at Vanguard, said.She said companies are doing more to incentivize workers with 401(k) and matching programs and said social media has become a great equalizer when it comes to financial education, putting information about investing and growing wealth a few clicks away."We were groomed in a world of technology," Patillo, herself a millennial, said. "A lot of information is at our disposal, instead of going to the library and researching like our parents once had to do."So, yes, the housing market looks awful, student-loan debt is a real issue, and inflation is climbing, but don't pity all American millennials — despite these hurdles, many are finding ways to live large.

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The power of dialogue: How Word-of-mouth has become a powerful marketing strategy in the era of social media

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Millennials are in their splurge era

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