Word Of Mouth Strategy: What Else Do You Need For Better Sales?
Image Credit Paul Writer on Google
It is the oldest yet most powerful when it comes when influence takes purchasing decisions.
Every business owner should know the marketing strategy of WOM that is more important to drive sales.
It’s no doubt that times are changing. The world is evolving, the people using tricks to get advanced. But, as economic uncertainty continues, companies in every industry are switching their focus from growth to survival and striving to maintain it. Even industry giants like Amazon are seeing Amazon have been seeing the effect of the market, as their shares saw the worst year since 2000, with stocks diving 51%. And their stocks performed better than Meta and Tesla.
If you are going to launch a company or have already started or have existing customers and with increasing distraction, endless tasks to tackle to stay in mind with customers. Marketing is the tool that allows customers to experience your company. As far as I know, word-of-mouth is the king of them all.
First and foremost, your business matters. Build a community of loyal customers leads to support your brand. Getting new customers, growing online and finding quality customers from the root. 70% of small business owners in a September survey 2023 survey from Nationwide. They expected a recession in the next six months. You can focus on this strategy in the upcoming months.
Word-of-mouth marketing has been around for a long time, but it often comes in many forms. I grew my last business to $230 million and didn’t spend a dime on marketing for the first five years of growth. Understanding the various types of word-of-mouth marketing and how to tap into them will help you better utilize tools as well as help your customers help you grow.
The Original Word Of Mouth
Once upon a time, we were hunter-gatherers, and if we came across something life-threatening, then yelling at everyone else was a very effective way to market such dangers. Now, we do it at kids' soccer games, barbecues or even standing in line at the post office. What we say to others matters. Whether it is bad or praise, it comes off as a personalized recommendation or point of caution.
We do it in almost every conversation we have. Discussions like where to eat, favourite park, and favourite cheese—all of these are our preferences that we share with others. Sometimes we share it directly with someone we're talking to, but oftentimes it is conversations that are overheard. The overheard conversations are where word-of-mouth marketing takes on a new ability to reach so many.
Digital Word Of Mouth
Social media has drastically altered the people, system, and world around us. It made everything feasible from connection to contact. We can easily reach and see, and communicate with anyone from far away.
These conversations that are open to the public are integrated with various advertising, and we trudge through the advertising to follow the conversations.
But before, you should know the most popular form of social media marketing is “boosting” posts. Of course, we can spot these advertisements, so we skip through them.
However, I believe the most powerful advertising we often don't catch on to is when the shared post or video is a recommendation. My son and daughter now send me many videos via text message of their favourite videos that never cease to make me laugh. Those videos themselves often share a brand or idea, which is marketing.
What’s the catch?
Image Credit ReferralCandy on Google
Sharing posts or videos is far more important than anything on social media platforms. High-quality content is great but it means nothing if nobody is reading this. This is the game of marketing,
Using Word Of Mouth For Your Business
Getting your customers to talk about your business isn't easy, but it can come from several methods. You could make the best product on the market, which is so superior that people want to just talk about it randomly to their friends. In my own experience, that is rare and would most likely require your product to be the elixir of life.
Why WOM is so powerful?
If customers like your business are happy to support you spread the word if given the right inducement. A great way to incentivize local customers to help create and share content is giveaways that have prizes for the best ad created. Another best option, you can work with local micro-influencers who can create several contents that can be shared in their network and with others. That’s how you do marketing in the social world.
Many companies try to control their "brand" and, unfortunately, miss out on many opportunities to utilize customers' word-of-mouth marketing. Instead, they spend a fortune advertising their biased view of their company. Allowing customers to create varying content from their perspective makes marketing simple, affordable and most importantly, effective. This is how word-of-mouth marketing can help in driving new customers and helping your business grow.
