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Word Of Mouth Marketing

92% of people trust recommendations from friends, according to the Nielsen Global Trust In Advertising Survey. That means if you aren’t receiving word-of-mouth recommendations for your business, you’re missing out on the single most effective and trusted means of attracting new clients.

 

And despite the prolific influence of social media on modern society, an extensive fact base has been established by marketing researchers that reveals that the vast majority of sharing of information about brands is actually offline, rather than online. While going about our day to day, we engage in many conversations that often lead us to the exchange of ideas regarding brands, products and services – sometimes those recommendations are obvious in our conversations, yet other times extremely subtle. According to research, “more than two-thirds of those conversations we participate in involve a recommendation to buy, consider or avoid a brand.” Therefore as you can see, word-of-mouth communication is a critical part of the consumer decision making process.

 

Why is word of mouth so powerful in comparison to traditional advertising? Two key factors: trust and consumer targeting.

 

Trust: Not surprisingly, we trust our friends more than we trust billboards. We know brands pay to place their ads in print, online and broadcast platforms. We are acutely aware that advertorial recommendations are coming from the brand itself. Ads will always provide a glowing product or service review – brands don’t provide a fair and balanced review of themselves, the good with the bad. And because ads are just that – ads – we tend to take them with a grain of salt.  Our friends, however, will tell it to us straight. They have no ulterior motive to tell us whether they believe a brand is useless, or fantastic, and as a result we’re more likely to take on their recommendation as a genuine, unbiased and accurate. The bottom line is consumers trust fellow consumers, while we highly likely to treat brand-led advertising with caution and skepticism.

 

Better Targeting: Word of mouth is also a much more targeted form of marketing. For instance, if you are selling baby shampoo, in targeting your message at potential customers you might choose to advertise on TV during morning programs when you predict your target consumer is most likely to be watching – you would be operating under the assumption that many women with young babies may be “stay at home” mothers, who watch day time television. Yet while a segment of the audience you actually reach may in fact be in the market for baby shampoo, many may not. Ultimately you cannot accurately predict your viewership, it’s more of an educated guess. Word of mouth however, is much more focused. A friend is less likely to pitch to you the technical advantages of their new Macbook Pro unless they know the conversation is somewhat relevant to your interests and lifestyle. Friends and colleagues share common bonds, meaning that if your product appeals to a particular individual, it is likely to also appeal to his or her close network of peers.

 

So how can you as a brand harness word of mouth and leverage it to your advantage?

1. Start by investing in building relationships with the people that matter most, giving them words to share, and making it easier for them to spread those words for you.

2. Be sure to specifically request referrals from happy customers and client, they will be your best and brightest advocates.

3. Additionally, foster positive word of mouth within your own business network, through suppliers, strategic partners and business associates, to ensure those who understand your brand and share buy-in can also spread positive and accurate messaging within fertile networks where new business opportunities exist.

 

 

 

 

 

Source: www.forbesmiddleeast.com/en/why-word-of-mouth-is-an-effective-marketing-strategy/

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Why use a thank you card?

thanks

It’s personal

Its personal especially if its hand written. Very few people make a habit of thanking the people they interact with on a business level. If its carried out, its by the oh so convenient email which has less and less impact. Taking time to provide a short personal message tells your audience you care. If you don’t believe me then wait till you receive one.

 

Helps you stand out

There’s very little that’s unique in this world these days so we need to be creative to stand out or just do some of the basics really well. You will get regular customers just by doing the simple things consistently well. These customers regard you highly and delight in telling others about the unusual. Sending them a personal handwritten note says so much more about you.

 

It’s appreciated

If you have ever received a personal note sent through the mail you will understand why it has such an impact over a personal note sent electronically (or nothing at all). People appreciate the time and the thought and it reflects how they interact with you.

 

It makes good business sense.

Using just the normal courtesies of life, a little of your time and you can establish a point of difference with the recipient. It makes even more sense when the card has a multitude of messages you can send. Yes you can thank someone but you can invite them, you can recommend them, you can make a suggestion that might not have the same impact any other way. Heaven forbid you could even send it to your staff!

How well do you really know your customer?

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It is often said that there’s no better way of marketing than one to one. Utilise this method well enough and you’ll get to know who your customers really are.

 

Take the time to ask your customers various questions and assess the responses in real time. Take in what is said, the way it is expressed and the accompanying body language. This will immediately give you the opportunity to tailor what you have to fit your customer. “All well and good” you say, but how do you replicate that for a hundred or even a thousand customers?

 

What you fill find after a few of these ‘one on one’ meetings is that your customers are falling into groups or segments. They may operate in different markets or industries but clearly show similar traits that mean something to you and the way your company operates.

 

Knowing what group your customer falls into allows you to build segment profiles that incorporate customers who have similar needs for your product or service. Once you have a profile of these segments it will become easier to determine how you will market to these customers. If you have asked the right questions then your market will often tell you how receptive they are to different forms of marketing, allowing you as the marketer to adhere to communication preference.

 

Segment profiling will identify the customers needs, how they use your product or service and how they value your offering. You will also find out competitive information. Once identified, you can address your segments individually. Fear not, you will have only a handful of these but the next step is to determine a method of communication!

 

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