Word of Mouth
Word-of-Mouth marketing may be the oldest form of advertising but it’s still a strong method for people to recommend your product or service.
This is probably the best and by far the cheapest way of marketing your business. It’s important to build reputation locally for your business, but there are a few key ingredients to follow.
The key ingredients of any word-of-mouth marketing campaign are:
A happy customer is a potential advocate and an influencer. An unhappy customer is even more powerful – one survey of “customer rage” found that 85% of unhappy customers share their experiences with others. If you don’t have a good story to tell, there’s nothing pleasant to buzz about.
Measure your customer satisfaction by asking your clients whether they would recommend you. This “customer loyalty” metric can be the most important number you can track.
More Facts: (From bzzagent.com)
80% of consumers trust WOM more than any other source of information
A study done by Harvard and McKinsey & Company found that 2/3 of the
U.S. economy is influenced by word of mouth
According to a recent New York Times poll, a “recommendation from a
friend” is the most credible source of information; while “corporate
advertising” is the least
The Keller Fay Group has found that the average American mentions
specific brands 56 times a week, with positive mentions outnumbering
negative six to one