Any Digital Business Can Explode Using Word of Mouth Marketing — Digital Marketing & SEO NYC

We live in an electronic age.

Each day we’re bombarded with the endless stream of ads via media, sites, search engines, videos, and so on.

Marketing companies spend billions upon billions each year assessing, researching, and compelling consumers ads.

No matter how sophisticated and compact digital marketing becomes, it still pales compared with the ability of good conservative word of mouth marketing (WOMM).

Based on detailed studies from Nielsen, “WOMM recommendations still remain the very credible.”

Just look at this graph that ranks consumers’ trust, based on the form of advertising and the actions it produces.

Positioned right at the very top as the number one trust factor is “recommendations from folks I know.”

It shapes users’ comments on brands/products/services, which is not likely to change.

Here are a couple stats which show the power of WOMM:

Can you feel more comfortable purchasing a product recommended by a friend or with a marketing message pushed down your throat by a advertising and marketing guru?

The full impact

There.

It’s to do with the long term effects of getting new customers.

According to the Wharton School of Business,

A customer you acquire from WOM includes a 16 — 25 percent higher life value than people that you acquire from different sources.

This means that you’re far more likely to get repeat business.

They also have a higher likelihood of becoming brand advocates or even brand ambassadors.

Consumers expecting other consumers

And there is yet another thing.

You do need to get your brand is recommended by a individual they know straight to benefit out of WOMM.

In actuality, the bulk of consumers trust recommendations.

68 percentage trust online opinions from different consumers, which can be up 7 percent in 2007 and puts on line opinions as the third most reliable source of product info.

Bright Local reports,

88 percentage of individuals hope online testimonials written by other consumers as much as they hope recommendations from personal contacts.

How I look in it, older school WOMM has meshed together with the electronic age.

A lot of individuals now turn to online consumers, whom they do not really understand, to discover if a brand is well worth purchasing from.

If you turn them into brand advocates and can impress a couple of consumers, it may have a domino effect: that they spread the word, which may cause a spike in sales.

It may set off a chain reaction.

Have we forgotten about WOMM?

The issue is that for the past couple of years, entrepreneurs have been focused on ‘amassing’ rather than ‘linking’ In other words, brands are trapped in collecting interpersonal networking fans and they’re forgetting to really connect together.

I believe this hits the nail on the head.

Many entrepreneurs (myself included) are guilty of it to some extent.

I believe we have gotten so caught up in the best and latest marketing techniques which we sometimes forget about what business is founded on in the first place: connections.

Earlier there was advertisements, SEO, PPC, or societal networking , most businesses gained new clients from older school advertising recommendations.

However, it’s never too late to profit on WOMM.

However, it will require a slightly different approach from the one used in the past.

The great thing is that there are platforms out there optimize its impact and to enhance WOMM and some potent resources.

I like to go over some tactics you can use to make your business explode using WOMM in today’s age.

Focus on your core crowd, not the masses

The first step to making this technique work is to understand who your core audience is.

Founding editor of Wired Magazine, Kevin Kelly formulated what I believe was a fantastic notion in 2008–that the 1,000 true fans theory.

His idea was that every artist, business, etc. . survive on having only 1,000 true fans and that “returns diminish as the fan base becoming larger and larger.”

In other words, you’re more likely to get success if you concentrate on getting 1,000 true fans rather than tens of thousands, or millions, of lovers.

Tim Ferriss has really embraced this notion, and it has been a key part of the rise to fame.

Ferriss even talks about the idea of 1,000 true fans in-depth in his new novel, Gear of Titans.

And I think this is a good approach.

You’re far more likely to create brand advocates if you concentrate on genuinely connecting with your core audience rather than trying to appease the masses.

This goes back to Pareto’s 80/20 principle, which applies to a lot of regions of business and life.

The assumption is that 80 percent of your clients account for 20 percent of your sales and 20 percent of your customers account for 80 percent of your sales.

What you need to do is put the majority of your focus on “wooing” the 20 percentage and deepening your relationships together.

Your core audience must grow more powerful, should you stick to this game program, and you will be making the ideal atmosphere for WOMM to happen.

Be authentic and transparent

I understand saying something like this may sound cliché and somewhat routine, but it’s still very important.

I feel brands are out of contact with their audiences, and they end up suffering in the long run for it.

Folks can spot any ounce of pretentiousness from a mile away.

And with sleazeballs out there now, most consumers have developed a sense of uncertainty that is not simple to nail out.

In addition, I realize that only telling you to be more transparent and authentic is somewhat vague.

You might be asking: how exactly can you accomplish this?

It all boils down to becoming yourself and which makes it a point if it comes to transparency.

You want to “humanize” your brand.

It highlights five specific brands which seen success as a result and adopted.

Leverage testimonials

As I mentioned earlier, most consumers are amenable to testimonials and expect that the opinions of different customers if they aren’t known by them directly.

If you can get your customers that are satisfied to leave positive testimonials, you’re almost guaranteed to find a spike in sales.

So, I propose doing everything in your power to promote your satisfied clients to leave testimonials.

This starts by “claiming” your business on a few of the top review sites like Google My Business, Angie’s List, and Yelp.

This will supply advice about how best to make this approach a success and an in-depth look in to you.

In addition, I suggest looking around 19 review sites that can help your business get more testimonials and gain traction.

Add fuel to the fire with a referral application

Consider implementing some sort of a referral application should you wish to expedite your WOMM.

It may cause an influx of new clients while providing your brand equity a boost when done properly.

Here is an excellent illustration of a referral application that got it all right.

Several years ago, Dropbox launched a referral application that provided clients around 16GB of free storage to get “inviting a buddy” to combine.

• The refer-a-friend feature raised signups by 60 per cent
• Users delivered 2.8 million direct citizenship invites
• Dropbox went from 100k to 4 million users in only 15 months
• This led to a 40x growth, or a doubling of users each 3 months

This only goes to show.

The important thing is to think of some way to benefit customers for discussing your brand.

This could be freebie, a discount, money back, or whatever.

So long as the payoff is not going to destroy your profit margins and has value, it should get the job done.

Will depend on your industry or niche.

It moves over and must provide you a few suggestions on coming up with a way for your business.

Conclusion

Together with all the cutting-edge, sleek, and advertising techniques out there, WOMM gets overlooked.

It’s simple to find that it’s still alive and well when you look at studies regarding research on WOMM.

In many ways, WOMM is stronger than ever once you consider the ease by which consumers can share testimonials with one another.

I understand I find myself reading particularly before I book or at least a couple of reviews before I purchase something a spot on Airbnb.

How I look in it, it’s never been simpler to exploit the ability of WOMM than it is now.

It is just an issue of bringing this old school concept.

It is possible to absolutely make your business that is electronic explode using WOMM by utilizing a couple of concepts like the ones that I discussed.

The best part is that a number will be repeats and may recommend your brand.

And this is the very definition of developing a sustainable business model.

How big of a job do you believe WOMM performs in business now?

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