You must have heard about word of mouth marketing or WOMM. One might even have said that it is the most powerful way to influence business results. And they would be right! A Nielsen Global Trust in Advertising Survey found out recently that 92% of all the consumers believe in recommendations from friends and family. That simply means word of mouth or referrals from people around us.
Although word of marketing is one of the oldest marketing tools of the world it is still the most effective one.
The Best Way to Referral Marketing
What are referrals? Referrals are essentially your name uttered in front of your potential clients. So, word of mouth marketing is the best way of referral marketing as word of mouth is a referral for your brand. The more the word of your business spreads the more referrals you will keep generating. It is as simple as that. So, step up your word of mouth marketing efforts to get more referral for business.
Through word of mouth marketing growing your business can be very fast and smooth. Word of mouth is like the wind. It rapidly spreads far and wide. So, a single effective stroke from your marketing team to generate word of mouth can practically multiply your sales or conversions within a very brief period of time. It can even be within a week. So, it is always a good idea to have a rapid business expansion plan ready at hand when you are doing word of mouth marketing for getting more referrals for business.
Low Key Yet Doubly Effective
Unlike any other marketing campaign like paying adverts, referral marketing or WOM is very low key. However, it yields much higher results in terms of conversion. For running any other advertising campaigns, you have to have elaborate preparations. Launching of ads are huge events in the world of marketing. Whereas word of mouth works silently with much more increased effects on your ROI.
Takes Both Online and Offline into Effect
In today’s world where almost all age groups are synced with the online world, word of mouth can happen both online and offline simultaneously. Even a single comment somewhere in a social media can act as a successful word of mouth or referral. In this regard, your online business setup has to be as strong as possible.
50% of all purchasing decisions based on WOM
According to McKinsey & Company almost up to 50% of all purchasing decisions are influenced by the word of mouth. This you can realize yourself. Just try to remember some of the things you have bought in your life. How did you buy them? What was the main influence on your decision to go with a brand? You would find out that most of the decisions were based on what people around you were talking about. This is the power of word of mouth.
How NetProReferral Can Help
For doing word of mouth marketing as the best way of referral marketing, NetProReferral can be of immense help on the way. Through it, you will get expert referrals only. As on NetProReferral, only the expert professionals refer other experts based on their skills and expertise. So, your referrals and the word of mouth for your business becomes the strongest and most authentic.
However, it is an interesting point to make that any other marketing campaigns can go along with word of mouth marketing. If executed properly, any other campaign would complement the word of mouth for a business. So, the goal would be to drive each marketing effort in a way that would fortify the word of mouth and referral marketing for the company.