Marketing isn't what it used to be. According to a consumer survey byMcKinsey & Company, consumers are no longer making their buying decisions in the same way that they once did. The traditional model of the consumer becoming aware of many brands and developing some level of familiarity with one or more of them before finally choosing one and building a sense of loyalty to that product is no longer accurate.
Today’s busy consumers now do their own extensive research into the many products available before making a purchase — and the majority of consumers rely primarily on the opinions of people they know personally when it’s time to make a purchasing decision. When a consumer has already purchased a product or service, his or her friends are 3.3times more likely to make the same purchase. And if that consumer is what marketers call a “peer influencer,” his or her friends are 5.3 times more likely to make the same purchase.