Word of Mouth Marketing
Whether this is good or bad depends on the goal
Networks are probably the most important factor in human economic survival and happiness. Human beings are literally not capable of living without social networks. Every company, regardless of type or size, will be social at some point. Some are already social. Some are just starting to embrace it. Beyond the tried and true effect of word of mouth (WOMM), we have the very powerful voice of digital social networks.
If consumers value word of mouth and marketers believe it is effective, then why aren’t marketers more focused on it?
The most successful small businesses do more than provide a great product or service — they build strong relationships with their clients and community. Connecting on a deeper level grows trust and long-term loyalty, which if you ask me, is newsworthy. A network in which people don’t share any common story and where there are no resources will not last for long, and will not build that community you need for a meaningful existence.
More Apt to Collect Than Connect
You don’t start building a network by setting up a technology-based platform. Technology helps to reduce transaction costs and synchronize behavior and thus saves resources, but it cannot substitute for a lack of values and value.
It’s A Trap If You Step Into It
As in life, you ask yourself, “If I have to buy my friends, are they really my friends?” Since the cultural explosion led by Facebook, marketers have been stupefied by the shock of big numbers getting bigger. We would argue that most have been focused on “collecting” rather than “connecting.” So many organizations are caught up in collecting social media fans while failing to connect with the people on the other side of those technologies.
Be Worthy of Their Chatter
As Bonnie Raitt once said in the 1990s, “Let’s give them something to talk about.” If you suspect you are not being talked about, move from a responsive/defensive posture in social media, to a proactive/offensive posture. Here are a few ways to get the conversations going.
Spreading Good News
As an expert in your field, you are likely to follow industry thought leaders on social media. You subscribe to their blogs, listen to their podcasts, and watch their vlog channels. You have unique take-aways due to your own experiences in your chosen field. Keep a pen and paper handy, or obtain a note taking app on your phone. When innovative ideas arise, record them. This is valuable information that you alone glean by being in the thick of it every day, as a leader in your industry. Pass these insights onto your marketing team. They are hoping to gain these insights from you to promote your organization.
Ask For Opinions and Recommendations
Another easy way small business owners can engage customers in meaningful conversation is by asking questions. People like sharing their opinion. By giving them a voice you are telling them their thoughts are valued. And their thoughts are often just the feedback you didn’t realize you were looking for. People who purchase what you have are your best test market. They happily let you know what they think while sharing with others in their network.
Employ a Weblog, Blog, Blog or Killer Email Newsletter
If you want to get noticed, you need to go against the grain, write better headlines, use compelling visuals, and master the art of promotion. While it may hurt you to hear it, a blog post cannot stand alone on its own merit any longer. Regardless of how polished and engaged your writing is, it’s no longer enough in today’s marketplace. If you want to create blog posts that get noticed and shared, then you must be willing to use compelling visual elements that complement the text. Unless you are a closeted creative writer, we recommend partnering with a creative marketing company that can work your publishing efforts on your behalf.
Host a Virtual or In-House Class
Your specialized industry knowledge is valuable to consumers. With the right strategy, you can turn that expertise into word-of-mouth revenue. Virtual events have become more common than ever before and are easier to host thanks to a constantly growing list of technology tools for meetings and webinars.
Invest in Retention and Loyalty
What percentage of your marketing budget is spent on new leads versus on client retention? If you’re like many small business owners, you spend much more on reaching out to strangers than nurturing existing clients. If you were told that it costs five times as much to acquire a new customer than retain an old one, would that think differently? Those existing clients are your most valuable asset. They write the online reviews that make you look great for prospects. They send referrals if you take the time to ask for them. They expand your reach on social media. And of course they’re a source of repeat or recurring business down the line.
Spend Less Time Day-To-Day Marketing
Whatever your industry or type of business, you’d likely rather spend your time with clients instead of on marketing. Hiring a marketing group to handle your outreach will allow you to spend less time marketing your business without sacrificing performance? Professional marketers actually thrive on all day interaction. They know when to and when not to automate. They are utilizing the most current communication technology every day, all day.
Network Philanthropically
Learn how to use your network to inspire and engage others in your philanthropic cause, and amplify your impact and reach. In order to reach our goals, we invest resources, but those resources depend for their effectiveness on a network of people setting the right goals, defining the right tasks, identifying and responding to opportunities, working together even in difficult environments.
Millennials appreciate brands that go above and beyond. Brands should unlock any opportunity to push the limits of charitable giving. 64% of Millennials use their own social channels to address companies about social and environmental issues, and 36% of consumers say they mainly share content to promote causes they care about. When you’re doing something for the good of a community, people not only want to talk about it, they want to become a part of it.
It’s Not a Matter of Choice
You can’t not have a network, just as you can’t not communicate. When clients want to talk about the experiences they have with your business, it validates your efforts. It also means you are building a community of people who are likely to refer their friends and colleagues to you when they need your expertise.
We can either manage that network or not, but it will have its impact on performance and outcome. You can pour as much money as you want into a network, however if it works badly, your money will evaporate without any sustainable impact.
Professional Marketers Capitalize on Unexpected Opportunities
If you aren’t ready to house a marketing team in your place of business, hire a quality marketing team that will remotely act on your behalf. Also, professional marketing people are always networking while staying open to new opportunities in the rapidly changing environment.
Happy customers have a history of bringing in potential customers. If you can get your community talking about your products and services, you’ll reap the benefits of true brand advocacy. Give them something to talk about today.
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