There is an interesting paradox relating to word-of-mouth recommendations and technology: the more technology we have available to us, the more we value personal recommendations. Brands (both new and old) now place even more focus on partnerships and personal recommendations as they are a cost-effective and incredibly valuable way to drive new business and expand brand awareness. When two like-minded companies partner together, it creates a win-win situation for both and the value is greater than the sum of its parts. 1+1=3.
As Deborah Sweeney of Forbes magazine wrote: “When businesses have great partners to refer customers to that are similarly related to the same industry, customers recognize this and go the partner for their needs because they trust the company that referred them on. This in turn helps provide both businesses with new clients and customers and increases strong word of mouth and company loyalty.”