The Marketing Strategy Producing Millions of Dollars For Brands (Also, It’s Free For Everyone!)
Word of mouth.
When someone praises or critices a brand, that’s word of mouth marketing. Most brands are focused on ads. The ones that you know you are just another customer for them. However, word of mouth is the art of brand recognition without any links or call to actions from a picture. But from a known person in your life.
Word of mouth is producing millions of dollars. Only because it is transmitted from someone you know. Here are the benefits:
Word of Mouth Gives Personal Trust to Your Customers
Trust means connection.
A connection from your brand to your customer is critical. That connection will bring more money than any other aspect of your company.
When someone, you know and trust, talks to you about a brand they praise, you listen. And you take action. I like to explain this with the car business. Recently, I’ve been in the market for a car. We all know all the different models and companies out there. Especially in America. I asked a lot of my friends. What they all said? Toyota. Everywhere I asked: “Toyota is the best and most affordable car for you today.” When I did the research, I was already sold on it. Just because my friends loved the car.
However, what would happen if they hated it? Or if the reviews were mixed?
Word of mouth drives incredible business. When your product is good.
Word of Mouth Spreads Without You Putting Any Effort
This is an strategy that spreads. And quick.
People often underestimate the power of connections. The more connections you have, the more you can talk about your product.
Therefore, what do you think happens if your product is amazing? It creates a snowball effect. Slowly, and over time, word will get around. 3 people. 6 people. 12. 40. At one point, you won’t even have the time to know where it came from. Why? Because if I sold you on something incredible. And then you recommended it to a friend. And that friend recommended to 2 more. Well, you get the point.
We live in a connection world. Jobs and careers are created because of a family friend or close colleague.
Products are sold and companies are born with word of mouth marketing.
Of course, Word-of-Mouth it’s totally free
No cost associated.
Making your product amazing is your job. Not a part of your marketing budget. Therefore, if you implement an aspect of your job into a marketing strategy, you have a cost-free relationship between the two.
Referral programs are the most famous example. I recently decided to open a brokerage account. After playing around with the platform, I noticed a referral program selling me 2 free stocks for every person I made signup. 2 free stocks. Around $40 worth of value. Why would any company give that much for a single client? Let me tell you, it pays in the long run.
More customers means more validity in the market. Which drives the value of the platform through the roof.
Business is the game of numbers. And word of mouth will increase those numbers for free.
Think about it, have you been affected by word of mouth? Have you done it? Will your business profit from this strategy?