Word of Mouth Marketing (WOMM): Why It’s Still Important
Word of mouth marketing (WOMM) has been around since the beginning of time, but that doesn’t mean it has lost its importance today. What exactly is WOMM? It can be defined simply as marketing based on people recommending your product to other people they know, but that definition doesn’t explain why WOMM works so well – and why it continues to be as successful today as it was in the past!
What is word-of-mouth marketing?
Word-of-mouth marketing refers to a specific marketing strategy that relies on encouraging your customers to refer you to their friends and family. There are two main types of word-of-mouth marketing. The first type is earned media, which occurs when existing customers voluntarily share their experiences with products or services via digital channels like blogs, Facebook, Twitter, Instagram, and other websites. Earned media also encompasses traditional word-of-mouth methods like conversations around town or at work.
The value of word of mouth marketing
For all that is said about marketing in an Internet age, word of mouth still trumps all. Businesses with loyal customers, ones who love them enough to talk about them online and offline, consistently do better than those without it. The best marketers aren’t just masters at creating a good product—they are also astute readers of their target audience, knowing when to pounce and when to stand back; they understand psychology and human nature as well as they understand statistics. They know how to make people feel something—whether it be outrage or joy. And when they do, you can bet your bottom dollar that people will tell others about it. Word of mouth marketing isn’t dead; if anything, its importance has only increased over time because we live in such a saturated media landscape today.
How much does word-of-mouth marketing cost?
Word of mouth marketing doesn’t cost much, but it does require time and effort. It also requires a compelling product or service to generate attention. In general, word-of-mouth campaigns tend to be less expensive than social media campaigns because they don’t require any additional paid advertising to work. Therefore, it is critical that you provide an experience that your customers love so they will want to spread the word about your brand. This is more difficult than it sounds! If you are looking for ways to start a conversation with your audience, here are some ideas:
How can I get my employees involved in WOMM?: Get creative with what your team members have to say about your company. What do they like? What do they dislike? Do not be afraid to ask for honest feedback from everyone on staff.
Identifying opportunities for WOMM
How can you take advantage of these opportunities? First, give your product or service something worth talking about. If it’s revolutionary, say it is. If it comes from your heart and makes people feel good, share that information with others. People are much more likely to talk about products they love than those they hate! So make sure your product is worth talking about—and then get out there and talk to people! Word of mouth marketing isn’t just a buzzword; it’s an opportunity for real growth in your business.
Measuring the success of WOMM efforts
There are several ways to measure your efforts at WOMM. One way is to keep track of how much positive feedback you get from your clients and customers about how their friends and family like using your services or products. A second way is to use an online tool such as our Customer Voice tool in our Business App, which measures positive and negative comments across social media channels. You can also measure mentions on online review sites such as Yelp, Google reviews, or even Amazon product pages for specific products or businesses.
Trends in current WOMM practices
When word-of-mouth marketing first became mainstream with social media, businesses could get away with spamming everyone they knew in an attempt to create brand recognition. Today’s businesses know better. In fact, 71% of consumers trust recommendations from people they know over any other form of advertising, like product placements and celebrity endorsements. Now, if you want your products to catch on among online communities, you need a professional approach that is deliberate and strategic.
There are three main areas where most companies are falling short: 1) Strategy 2) Implementation 3) Measurement.
This means that as you develop your plan for how to make WOMM work for your business, you should consider these key points:
1) Who do I want to reach? 2) What do I have to offer them? 3) How can I be authentic? And finally, 4) How will I measure my success?
Contact us if you would like us to help you with these topics in your business!