Oftentimes we neglect the fact that word of mouth marketing can be a sharp tool to boost our businesses.
The availability of a lot of inclusive marketing tactics has made it easier for businesses and startups to neglect the effectiveness of word-of-mouth marketing (WOMM).
If channeled the appropriate way, it can be just as effective as other marketing strategies.
To be honest with you, word of mouth is the most strategic way to put your business and products in the eyes of your target audience.
When you are concerned about cost-effectiveness, it is the most recommended marketing strategy for new startups who have not enough cash at their disposal, and who obviously have a lot of financial commitments yet to make.
Word of mouth is simply face-to-face contact with your target audience.
A lot of businesses today have experienced a lot of growth because, at one point in time, either the owner or some influential individuals helped in marketing their business through direct speech.
You don't know how much recognition your business will gain just by a mere introduction of you and your business on an occasion where your target audience is present.
It cost nothing to market with word of mouth. There is this feeling of security that the audience or Target customers feel just knowing that they can see the product marketer face to face.
All you need for your small scale, medium, or even large scale business is to know when and where to strategically position yourself to get the opportunity to speak about your business directly to your audience–Such an opportunity is golden.
Why do you need to apply word-of-mouth marketing?
Aside from every other strategy, below are the reasons why you still need the word of mouth marketing strategy;
1. Cost-effectiveness
It costs you nearly nothing to market your products using word of mouth. The truth is, for small-scale businesses, you do not need to start investing huge sums into advertising your products. Word of mouth is the best option.
All it takes is to know your audience and get the opportunity to reach out to them.
2. Promotes sales
We know that you might not be able to cover a wider range of people at the same time. But, when you can communicate with the right audience, you are sure to make great sales.
It is more productive, realistic, and wonderful for your audience to see the brain behind the product they are about to purchase. This alone makes it easier for you to sell.
3. An effective tool for B2C relationships.
Obviously, it is word of mouth. In that same vein, your customers can ask questions about products and services. This way they get to see the significance of your products and services.
This makes it less stressful for you to convince them to patronize your business and at the same time create good business-to-consumer relationships.
It is also an easier way for your business to improve their product quality as customers and consumers can directly tell you what they want and how they want it.
4. A better way of publicity
Word of mouth marketing becomes a better way of publicity. If you are able to get the mind of your direct audience, it becomes easier to reach their families and friends who are not present at the time.
People believe in what they see other than what they hear. At the same time, testimonies from individuals present at the time of your presentation will help you reach out to others who weren't present.
To carry out effective word of mouth marketing, we must do the following;
1. Set goals
Obviously, you should at the initial stage outline the reasons why you want to talk to these people. Do you want them to sign up for your newsletter, help broadcast your business, patronize your product, or send customer feedback? Knowing why you want to talk to them, makes it easier for you to know what to say to them.
2. Identity your real audience
Just know this, no matter how wonderful your business is, not everyone will buy your idea, products, or services. So, the earlier you identify your real audience, the better you save yourself the stress of talking to the wrong people. Know who wants what you have, and go for them.
3. Know where to locate your audience
From my University days experience and observations, I've realized that banks send their marketers mostly to schools and offices. This is because they know that an average student has the tendency of creating an account. So, reaching out to them directly makes it easier for them and faster to get them.
Even banks know the significance of the word of mouth marketing that is why at some point, they directly reach out to their prospective customers through publicity and direct speech on the need for you to create an account with them. Oftentimes, they share fliers that will act as a reminder.
Conclusion
No matter how digital we are, the need for word-of-mouth marketing remains inevitable.
WOM will always be effective especially with countries like ours where gossips fly faster than any news media.