How Businesses Can Develop And Make The Most Of Word-Of-Mouth Marketing
by Arnab Dey Marketing Published on: 11 October 2022 Last Updated on: 07 November 2024
Word-of-mouth marketing is one of the most important kinds of marketing for businesses. It’s a lot easier to get started than you might think.
In fact, there are several ways to develop and make the most of word-of-mouth marketing in your business right away.
Here Are Seven Prime Ways To Develop And Make The Most Of Word-Of-Mouth Marketing:
1. Surprise And Delight Your Customers
The best way to encourage positive word-of-mouth is to surprise and delight your customers. If a customer has a great experience with you or your business, there’s a good chance they will talk about it. According to a survey by RR Donnelley, over half of consumers discover new brands, products, or services through word-of-mouth.
Surprise and delight your customers by giving them something extra, such as an unexpected discount or freebie, an offer for special access to new products before everyone else gets them, etc.
This is especially effective if the customer feels like their relationship with the business goes beyond just being another transaction. Make your customers feel valued by offering them something extra that demonstrates how much you appreciate their loyalty and commitment.
When you show appreciation to your new customers who came in through word-of-mouth marketing, they will further promote your services to other potential customers. This will create a chain of marketing that won’t consume too much of your marketing budget while bringing you loyal customers.
2. Leverage Earned Media Value
Earned media value is the worth of the exposure you gain on different websites for promoting your products or services. It shows how well your promotional campaign performs compared to competitors in an industry or market niche.
It also refers to how much people trust a product because they’ve used it before or seen others use it successfully before deciding whether or not they want to purchase their version of that product.
You can leverage earned media value through word-of-mouth marketing, as it will come from trusted influencers or people whom the potential customers know. You must first learn how earned media value works to make the most of earned media value. Put simply, it is the amount of financial impact marketing campaigns have on your bottom line.
3. Share On Social Media
Social media is an essential tool in developing your business’s word-of-mouth marketing. It allows you to connect with the people who are interested in and appreciative of your brand, and it also allows you to share your business’s story with a wider audience.
78% of consumers are more likely to purchase products from a brand after having a positive experience with that brand on social media, as per a 2021 Sprout Social study.
To get started, be sure that all your social media profiles are fully fleshed out with relevant content about yourself, what you do for customers, and other relevant topics. Once this has been done, start sharing posts regularly.
The more engagement you receive from followers on social media platforms such as Facebook and Twitter, the greater the likelihood they will continue talking about your company without being prompted by paid advertisements or constant promotion from its owners. If possible, use hashtags when posting so that others can find your content more easily.
4. Host An Event Or Give A Talk
One way to get the word out about your business is by hosting an event or giving a talk. This can be done at your venue or a public venue. Hosting an event is especially useful if you want to generate awareness for a new service or product. However, even if you’re not, it’s still a great way to meet potential clients and allow potential customers to get more familiar with what you do.
Giving talks is another excellent way to build your brand and promote yourself as an expert in the field of your choice. You could give talks at conferences, seminars, workshops, or anywhere where people interested in that topic might gather together for mutual learning. You’ll want these events on your website so that people who attend find themselves full of knowledge about how awesome you are.
5. Feature A Customer In Your Ads
The most effective way to educate your audience on the value of word-of-mouth marketing is by featuring a customer in your ads. The Bazaarvoice 2022 report states that 40% of shoppers are likelier to buy something if an ad features customer reviews and images.
It’s often best to pick a customer who has significantly impacted your business, either in revenue or popularity. For example, if you’re running an ad for a clothes store, having customers talk about how much they love their new outfits would effectively communicate what makes shopping there worthwhile for consumers.
6. Tap Into The Power Of Influencers
Influencers are key players in the word-of-mouth marketing game. They are people who have influence and can inspire others to try your product. A recent study by a creator marketing platform indicates that influencers impact Americans’ buying behavior more than celebrities.
Influencers have a large social media following. You can reach out to them and see if they would be willing to promote your product or service. They can also help you make connections with other influencers, which can lead to even more people hearing about what you have to offer. If you don’t know any influencers, research the top Instagrammers in your niche and reach out for partnerships.
7. Focus On Providing The Best Customer Service
The best way to make the most of word-of-mouth marketing is to provide great customer service. If your customers are happy with your product or service, they’ll tell their friends and family about it, which is the cornerstone of word-of-mouth marketing. The opposite will happen if you have a great product but terrible customer service. Your clients won’t mention you to anyone, even if they love your offer.
Good customer service leads to positive recommendations. 94% of consumers who give a company an “excellent” customer experience rating are likely to recommend that company, according to research by Qualtrics XM Institute.
You can’t just hope for great word-of-mouth marketing. You have to ensure your customers are happy with their experience, so they want to discuss it with others. When you do this consistently over time, word will spread about how fantastic your business is.
Conclusion
Word-of-mouth marketing is a powerful way for businesses to reach new customers and build loyalty among those already in the fold. With so many different kinds of word-of-mouth marketing, there are lots of ways for you to get started, but no one technique will work for every company. Be creative with your approach, and try out several methods at once.
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