Social conversations and WOM drive sales
NEW YORK: Social conversations and word-of-mouth, both online and offline, have a measurable business impact and are a major driver of consumer sales, a new study has revealed.
According to Engagement Labs, a firm that analyses conversation data, online and offline conversations drive an estimated 19% of brand sales, which equates to between $7 trillion and $10 trillion of annual consumer spending in the USA.
The study, which examined 170 brands as well as more detailed analysis of a subset of 21 brands, found that online social media make up half of the social contribution to sales, while offline word-of-mouth contributes the other half.
Read the full WARC article, here.
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