Word-of-mouth marketing is not any fancy technique. Rather, it is the foremost advertising strategy that has helped businesses grow for ages.
In an exceedingly digital era, like ours, it is impossible to imagine our lives without Social Media. Besides, it has turned out to be a boon for businesses as they have their potential and existing customers on the same platforms.
There is not any need to chase your customers anymore. But there certainly is the need to get noticed.
Now, the question is – how can you get your business noticed in a crowd of millions? What is it that helps you stand out?
Well, that is why you need to bring word-of-mouth marketing into the picture.
4 Reasons why Word-of-mouth Marketing is Important
Trust Built Foundation
Your customers are more likely to buy from you when a friend or family recommends your product/service.
Do you know why that happens?
It is because they trust the source of their information. People will be willing to spend on your product because their close ones did, and it worked for them.
High investment in advertisements yield great results, but it gets stronger when people start talking about your brand.
Genuine customer base
Word-of-mouth marketing is the most effective advertising method because it comes as an authentic message from a trusted source. A happy customer will share your brand with their circle. And if the people from their circle love your service, they will further spread the word to their connections. This chain goes on and builds a genuine customer base for your business. These active customers are your asset for growth.
Long term growth
The key factor responsible for an organization’s success is the value they offer. And if you strive to uphold the value addition part for your customers, they will push your brand up in response. In this way, you will build a loyal customer base which will help you grow in the long run.
Stability
Digital Social Media Platforms help a lot in accelerating your business. But the concern here is that the algorithm for these platforms keeps on changing. You need quickly adapt to these changes, or you lose the game staying at the same pace.
On the contrary, the word-of-mouth technique gives you a stable back throughout.
Your customers who have interacted with you for quite a while will trust you with your services. They will stay associated with your brand irrespective of the number of followers you have on any social media platform.
4 Ways to Accelerate Word-of-Mouth Marketing
A small business should aggressively work on converting referrals into customers. And, here is how you can do it.
Exceed Value Over Price
When you do good to your customers, the better returns multiplied to you through word-of-mouth.
The value that you offer through your product or service should always exceed the price your customer pays for it.
When your customers receive services beyond their expectations, they will generously help you with word-of-mouth. They will speak of your brand more often, buy more frequently and bring you more customers.
Interact with your audience
Communicating with your audience is the only way to understand your potential customers. You need to know what they expect you to deliver. Also, your customers, when encouraged to interact, can help you with constructive feedback. It will not only help you grow but also help with Brand recall.
Giveaways
Now, this is a technique getting popular on social media these days. You can engage your audience through some quiz or other sort of competition and promise a free giveaway in return. Such contests make things fun and happening about your brand. You can ask them to tag their friends in, which in turn will help you expand your reach organically.
Testimonials and Reviews
You can obtain testimonials and reviews from people who have interacted with your product/ service already. Their experiences with your brand will set up the base for your next customers. It becomes easy for new customers to trust you with their purchase if they read reviews from previous buyers.
Be Where Your Customers Are!
Using Social Media for business is the need today. However, value continues to be the first determinant of your success.
Interacting and sharing has never been this easy before. So, utilize the power of Social Media Platforms to encourage word-of-mouth techniques even more.
Will you?