Word Of Mouth And The 1% Rule
61% of respondents to a recent survey said they check review sites, blogs and other customer feedback forums before buying a new product or service. Furthermore, 80% of those people said online word of mouth influenced their purchase. Put into perspective, the 1% Rule holds that only about 1% of the total number of visitors to a community where content is created, like Wikipedia, Yelp or CitySearch, will actually do so. This means 1% of your customers could be influencing 61% of your prospects. For any business that serves at least 100 customers per week, especially content-savvy Millennials, monitoring online word of mouth has graduated from a future to-do, to a must-have. From the Church of the Customer blog.