Competition is fierce in the modern world, being successful nowadays requires a great strategy and making the most out of opportunities when they present themselves. Word of mouth marketing is an area many businesses forget about or don’t take seriously. Word of mouth is essentially free advertising or promotion of a brand or their products. Marketing tactics and best practices can trigger positive word of mouth for businesses. Here are 5 benefits of word of mouth marketing to businesses.
1: Sales
In today’s connected digital world, a single recommendation can have a far greater impact than anything else which a business might do to increase their sales. 83% of people are more interested in buying a product or service when they’ve gotten a verbal recommendation from their friend or family member.
2: Costs Nothing
Word of mouth is free, you don’t pay people in conversations who discuss their experiences with your company with others. In comparison to paid advertising and promotion where you could spend hundreds or even thousands of euros to run a campaign in print, on the radio, on television or social media.
3: Credibility
One of the strongest benefits of word of mouth is its credibility. Hearing about something positive about a company or product from a friend or family member carries more impact and importance to you rather than hearing it from the company itself. Word of mouth acts as proof and lets people know your business is credible to do business with.
4: Long-Term Value
People who purchase products or services based on a referral tend to stick with your company longer than people who find your business by other means. This is because they trust your business and are loyal. Happy customers will direct their friends and family to you over time making the value and growth of the first referral huge.
5: Builds Your Brand
Building your brand is vital in business, this is how you get bigger in size and increase profits. Word-of-mouth marketing helps generate talk about your brand and increases your sales which build your company’s brand. A strong brand image will influence your current and potential customers to positively respond to your products and services.
Word of mouth marketing can be a strong force in increasing sales for a business. It doesn’t matter how good your website is or how efficiently you run your business, if you don’t provide a quality customer experience then you won’t generate positive referrals and exposure. To see how we can help you grow your business online, visit us online today and book a consultation.