Your most precious customers are those who buy the most, right? Not necessarily. Your most valuable customers are those whose word of mouth brings in the most profitable new customers, regardless of how much they themselves buy. Like its literal meaning, word-of-mouth marketing spreads from one person to another outside of a formalized setting, without heavy intervention by advertisers.
Word of mouth is a powerful component in driving business growth as it can be used to predict sales growth – the more people who promo the product or the service, the higher the growth. A recommendation from someone familiar and trust-worthy is the easiest path to a product sale, link or new subscriber. Why? This is because recommendations are generally perceived as incentive-free, unlike the obvious motivation of advertisers, who may over-promise in a bid to increase sales.
What accounts for this phenomenon? High-purchasing customers who say they’ll recommend your firm to others often don’t bother – and that’s the truth. Most of the time, they’re just paying you lip service. And a lot of others just talk about what a powerful tool this is but not many do anything about it.
It seems a shame that there are companies with Marketing, A&P Departments and even Ad Agencies but do nothing to engage the people within or internally to help spread the word.
Of the many things you can do – here’s one: leverage existing social networks. Online communities have a tightly knit group of users who can help to increase brand awareness for your product. Tap into these communities with tools or content targeting their specific sub-culture and you are likely to get a lot of attention.
These can include applications for platform-specific websites like Facebook, Firefox and Wordpress, which each have a large body of users. Content which examines, mentions or analyzes mini-communities or sites within large overall niches will work as well.
5 comments:
Never ignore the power of word of mouth marketing. Either to build a brand or to tarnish a brand.
I can see ATCEN Communications is moving forward as what you said. Every well done job have been recognized. At the same time, generated good testimonials after the event. This is one of real example of word of mouth. Definitely, it helps to make the brand strong in the market. ATCEN Communications and the team, keep it up!
Even we have technology to convey our massege to the world. Word of mouth is the efective and it feel very close.
Provide quality services to our clients with our sincere heart. marketing strategy - Word of Mouth - is achievable. it takes time but will get there.
WOM is very powerful. Not many people will share something good about you with others but they definitely share a lot faster you did something bad. This will demolish you and your brand.
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