How to Get Powerful Product Recommendations

By Eric Dickmann

April 23, 2019

90/10 Rule, Product, Product Recommendation, Recommendation

Product recommendations are the number one driver of consumer purchase decisions. They are a powerful way to increase sales, customer satisfaction, loyalty, and lifetime value.

The Benefits

According to Nielsen, 92% of all consumers report that a word-of-mouth recommendation is the “leading reason they buy a product or service.” Likewise, a new study by Monetate found that product recommendations results in a 70% higher conversion rate.

So How Do Get Product Recommendations?

The marketing automation software provider Marketo suggests these five steps that you can take:

  • Know. Understand what circumstances drive people to make these recommendations.  Use social listening tools to monitor conversations about your brand and your competitors.
  • Plan. Formalize your “shareable story” – how you want your brand talked about and recommended. Next, develop a plan to maximize the impact of your new shareable messaging. Your efforts online need to turn consumers into brand advocates.
  • Identify. Discover the people whose recommendations influence purchase decisions. Seek to build a sustainable relationship with them. They can take your recommendation marketing to the next level.
  • Activate. Create compelling experiences that engage customers in a relevant manner. The 90/10 Rule states that you spend 90% of your time engaging with people across your communication channels. Use the remaining 10% actively sharing your brand messages.
  • Protect. It’s always important to protect your brand. Identify negative voices and misinformation. Monitor the traction of the message and understand the reach before engaging with the detractor. The Best Offense Is a Good Defense.

Conclusion

Indeed, product recommendation is a powerful way to increase sales, customer satisfaction, loyalty, and lifetime value. But becoming a highly recommended brand does not happen by accident. There is a roadmap you need to follow but the results can be impressive.

Top 10 Reasons for Startup Failure

There are many reasons for a single startup’s failure. The reasons are obvious and can be prevented. Being aware of those mistakes will help founders succeed by avoiding them

About the author

Eric Dickmann is the founder of The Five Echelon Group, host of the weekly podcast - The Virtual CMO, and a CMO On Demand for a variety of small and midsize companies. An executive leader with over 30 years of experience in marketing, product development, and digital transformation, he has worked with large, global companies and small startups to develop and execute marketing strategies and bring innovative products to the market.

You might also like

>