Word of mouth marketing, what is it?
From way back since the beginning of businesses, word of mouth marketing has been essential to getting your name out there, long before technologies were ever created.
The origins of this type of marketing come from its pioneer George Silverman in the early 1970s when he conducted a focus group with physicians.
He discovered thatat when some of these physicians in these groups would talk about how they had a great experience with a specific drug, others in the group could be swayed into trying that specific drug for their own patients.
As it turns out, the best advertisement was not a commercial that companies spent a fortune on it was the people that actually used the products and had a positive experience with it.
This is something that marketing people today should remember.
As a company, you may be able to blast potential customers with ads on social media or through emails, but you may not realize that word of mouth is still just as relevant in marketing today as it was back when George Silverman realized its power back in the 1970s.
In fact, a proper word of mouth marketing strategy is arguably more effective today than it ever was before.
This is because thanks to social media, this word of mouth actually has a further reach than ever. As a company, you would be foolish to not use word of mouth marketing to get your company’s name out there. You really should invest in a good word of mouth marketing book and study and apply the methods im your business.
Think about this: we live in a social media obsessed society. People tag their locations, which typically causes someone on their friends list to ask about their experience there.
This starts a conversation about your company without you even having to spend a dime. For instance, say you are a restaurant. A person tags your location when they go there to eat or have drinks with their friends.
Someone else on their list notices where they are and gets interested. Maybe this is someplace they heard about but was unsure about trying something new.
They notice their friend there and start asking questions since they value the opinions of their friends.
These friends will give an honest opinion about what their experiences were, and this is a powerful influence as to whether or not this potential customer will ever try your restaurant.
Word of mouth marketing can actually sell your business better than pretty much any other sources of marketing.
You can put sales and coupons out there, but people want to go to a company that they trust for their needs.
They will not trust just any reviews; they put value in the word of mouth marketing that they get from their friends or loved ones. This is almost free for the company.
Word of mouth marketing does not really cost any money for the advertising itself but you will need to make sure that your customers receive high quality products and services to talk about, read more.
Because just as much as positive word of mouth can positively affect your business, negative word of mouth can have a huge negative impact on your business.
However this form of marketing is far to important for any business owner to ignore because wasting money on costly old marketing may make you feel like you are doing something while all you are doing is fooling yourself!
Some Word of Mouth Marketing examples are finding out who your top customers are and inviting them for tea to thank them and asking them to form part of your customer improvement experience.
Another very effective way is to introduce a loyalty program, to reward your loyal customers for their support. Deloitte Touche found that 88% of businesses with a customer loyalty program are more profitable than their peers.
For more information on how to make Word of Mouth Marketing work for your business you can give Tonie Konig a call on 081 271 2069