If there’s one thing that’s singlehandedly revolutionized the way we do business, it’s the Internet. There’s almost nothing that can’t be done with a click of a mouse these days. Clients can do everything from placing orders to scheduling appointments to contacting customer service, all from the comfort of their computers.
For business owners, the advent of the Internet and social media sites like Facebook and Twitter has made it easier than ever to reach out and market their companies to potential customers.
But in the midst of the digital age, here’s what these tech-savvy business owners don’t know: There’s a tried-and-true way to market your company that involves no fancy ad campaigns and no elaborate marketing materials. All it takes is just a satisfied customer spreading the word around.
It’s called word of mouth marketing (WOMM), and it’s still the most effective form of marketing out there. According to Forbes, 92% of consumers trust endorsements from friends and family over any other form of marketing. Word of mouth marketing can be anything from a friend recommending a brand to his buddies at work, to a customer posting a glowing comment on Facebook about a service or product they’ve used. If it’s from a fellow customer, other potential consumers are far more likely to trust their word over any kind of professional marketing tactic.
So why isn’t everyone using WOMM?
But if that’s true, then why the focus on websites, Facebook pages, and Twitter accounts? Many business owners have simply gotten used to social media doing the work for them. They’ve placed too much emphasis on gathering “likes” and “fans” instead of connecting with clients – and their business pays the price.
How do you use WOMM to connect with customers over social media?
The three E’s are the staples of word of mouth marketing, responsible for virtually all the success you’ll enjoy by following them.
- Equip. You want your market to be talking about you, but first, you need to give them a reason why. What do your customers need, and what does your business offer that meets that need? Show them that not only do you meet whatever need this is, but your product or service actually exceeds it, too.
- Engage. What are your customers saying about you? How can you address these comments? With Twitter, you can easily respond to questions, thank users for praise of your product, and address concerns. Out of sight really is out of mind. Make an effort to keep up with your customers’ lifestyles.
- Empower. So you’ve given your customers reasons to talk. What now? The next step is to show them that their opinions are important and influential to your business. How you do that is up to you – just as long as your customers can feel like they’re a part of your company’s growth and evolution.
What’s the point of WOMM?
A Bloomberg Business contributor discussed his own experience with WOMM. Almost ten years ago, he started a college test prep company out of his own apartment with $5,000. Using word of mouth, he saw his firm expand by 50% every year, and was even able to launch his business in Asia and Europe.
There are hundreds of WOMM success stories out there, but it all comes down to this: Ideally executed, WOMM will encourage discussion, generate interest, and entice potential customers on a widespread level.
How do I take advantage of WOMM for my business?
With all you stand to gain from successful WOMM, it’s crucial to have the support of a team who can show you the ropes. METIK Marketing has over a decade of experience in the tax industry, and we’re proud of our clients’ success using our WOMM strategies. Contact us at 844.446.3845 to explore how we can help your business grow by word of mouth today.