The Benefits of Word of Mouth Marketing
For businesses, one of the most important aspects of gaining success is also gaining awareness. Marketing your products and services is a crucial aspect to not only maintain current consumers but also receive new interest. One of the best marketing strategies, however, is not pulling ad space in a magazine or utilizing tactics such as Adwords; it is Word of Mouth Marketing.
What it is
Word of Mouth Marketing is when customers recommend or discuss a business or product with others. WOMM is something of common occurrence and many don’t even realize they’re participating. The simple notions of recommending a restaurant to eat at or a good book to read are both two examples. This version of promotion is not only free but is also a great way to increase brand awareness. According to Impactbnd.com, 62 percent of people look at online reviews before making a purchasing decision. The reasoning behind this is because consumers are more likely to trust a business, product, or service after it’s been recommended by another individual, especially if that individual is a friend or family member. Impact says that 90 percent of people believe in brand recommendations from friends and that over two-thirds of consumers don’t believe in ads.
Further, not only are a majority of people relying on suggestions from others, but they are also driving more sales. According to Entrepreneur.com, people are four times more likely to buy a product from WOMM. Additionally, it generates more than two times the amount of sales than traditional ads.
How to use it to your advantage
Now that you know the several benefits to WOMM, how do you get people to start talking about your business? One way to start the conversation is by creating content. Providing content such as blogs, images, videos, etc, gives consumers things to share. When individuals post this content, the more trust is granted to the business from current and potential customers because others are advocating for your services or product.
Another way to gain more tread in WOMM is to share testimonials or reviews from previous customers. Displaying other satisfied users will create a sense of reliability for leads. Ask those who have utilized your services to fill out a review. At ConceptDrop, we pride ourselves in our five- star rating on TrustPilot and love sharing our case studies, which shows how we made a positive impact with other businesses.
Creating a referral program is another great way to encourage word of mouth marketing. Making a special discount or deal not only makes current and new clients happy but also results in more business.
Lastly, keep in mind that WOMM does not always work out in your favor. Someone who has a bad experience with your service or product can also be vocal about their experience to others. To avoid this conflict, be sure to provide excellent customer service and correct any problems that arise in an efficient manner.
Before you begin spending the money on your business’ next advertising campaign, take a look at the suggested methods and try creating a strategy to gain awareness through word of mouth marketing.
