What is the percentage of consumers who trust recommendations from friends?
92\%
Why wouldn’t you trust a recommendation from someone you know? Well, according to , 92\% of consumers around the world now say they trust word-of-mouth or recommendations from friends and family, above all other forms of advertising.
Why do you think that consumers trust each other more than they trust companies?
Customers have long trusted each other more than brands to make purchasing decisions. Because as consumers, we trust our peers will share their honest opinions and experiences with a brand’s products or services. Trust builds loyalty, which for a business, translates to advocates who believe in and champion your brand.
Why do people trust recommendations?
The second reason customers trust online reviews is that they rely on the opinions of others to influence what they should do. So, although customers trust the reviews themselves, they put more trust in the reviewers because they know that they’re just trying to help them make the best purchase decision.
How do consumers make purchasing decisions?
Consumers go through distinct buying phases when they purchases products: (1) realizing the need or want something, (2) searching for information about the item, (3) evaluating different products, (4) choosing a product and purchasing it, (5) using and evaluating the product after the purchase, and (6) disposing of the …
Do people trust their friends?
Overwhelmingly, respondents trust friends and family (93\%). While relative trust ratings were the same across age groups, those ages 65+ were far less likely to trust blogs/vlogs than younger age groups and were the most trusting of information from friends and family.
Why do people trust word of mouth?
Why is WOM Marketing Important? Consumers trust their friends. This is why word of mouth marketing is the most valuable source of marketing. According to a Nielsen study, 92\% of consumers believe suggestions from friends and family more than they do advertising – this stat alone solidified the word of mouth use case.
Do people trust people more than brands?
Olapic’s survey of social media users suggests that consumers are more likely to trust other posts by real people than those created by brands. In its study, Olapic found mixed results for social influencers in helping brands.
Do people trust small businesses?
Almost two-thirds or 62\% of consumers say they trust small/local businesses more than major retailers. This is compared to 36\% who said they trust large, national retailers.
How many people trust their friends?
Overwhelmingly, respondents trust friends and family (93\%). Research has previously shown that recommendations of friends or family members have far more influence over purchase decisions than influencers or celebrities.
Why do we trust our friends?
Most people will agree that trust is an important element in their friendships. Trust allows us to feel safe with friends: safe to make plans and safe to share ourselves and our lives. Trust requires that we keep our promises and show demonstrations of dependability, respect, and honour.
What factors influence buying decisions?
Many different factors can influence the outcomes of purchasing decisions. Some of these factors are specific to the buying situation: what exactly you are buying and for what occasion. Other factors are specific to each person: an individual’s background, preferences, personality, motivations, and economic status.
Who influences the decision to buy the product?
The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer. These factors can individually or collectively affect the buying decisions of the consumers.
Do consumers really trust recommendations from friends and family?
According to the report, which surveyed more than 28,000 Internet respondents in 56 countries, 92 percent of consumers say they trust recommendations from friends and family above all other forms of advertising – an increase of 18 percent since 2007.
Do you value the opinions of experts or friends more?
Sometimes we value the opinions of experts over our friends, sometimes the opposite, and sometimes both. To answer these questions, we ran a survey posing 20 hypothetical decisions to 500 people.
Why do we trust our friends over experts?
In short, when our decision is high-investment (of time, money, or energy), has lengthy consequences, or presents a sizable knowledge gap between us and the expert, we tend to lean on the expert. Meanwhile, when our decision involves more short-term consequences and fun, or relies heavily on word of mouth, we trust our friends.
Do people really trust advertising?
Nielsen’s latest Global Trust in Advertising report repeats findings from previous years – people don’t trust advertising, at least not as much as they trust recommendations from friends and consumer opinions expressed online.