Word of mouth marketing was done traditionally when one person recommended a product to friends, families, or even strangers. In recent times, word-of-mouth marketing is done by users sharing their satisfaction with a product.
Reviews sites are no longer trusted as they used to be. Customers would trust an impartial recommendation of someone that has patronized your product more than they will trust reviews from reviews sites.
- Grow Sales Without Ad Spend: The Hustle and Bang Shoes are types of brands that use word of mouth marketing to increase sales. Once you know your market by looking for the pains and problems of your market audience, the next thing is to focus on relevant traffic. Increase conversation and sales online by launching new campaigns. The next thing is to look for ways you can maximize the way customers perceive you. Build apersonalized conversion funnel and use urgency and scarcity tactics to drive sales online.
- Build a CommunityAnd Not a Commodity: One of the advantages of word-of-mouth marketing will help you keep your fans engaged, rather than giving you one-off customers. Customers that keep coming back to patronize or buy your product are most likely to help you advertise your products to their friends and families. Although it takes a lot of time to build a loyal fan base, there is nothing that can be compared to having customers that will patronize or buy your products throughout their lifetime.
- More Funding, More Freedom: Brands that have customers that keep patronizing or buying their products are most likely to receive venture and angel funding.Customer Acquisition Cost (CAC) to Lifetime Value (LTV), is said to be one of the most crucial aspects of a business model that is healthy at the beginning of the life cycle of a company. Brands that have lifetime loyalty from a lot of customers have more freedom and more funding.
- Creating a Buzz: Although it is advisable to have a budget for advertisement and perfect sales funnels, the only way to create a buzz that is genuine about your product is to have people that are not partial shout about your product on social networks and in the media. This can only happen through word-of-mouth marketing. Flash Tattoos have used word-of-mouth marketing on Instagram to get a custom collaboration with Beyoncé.
- Brand Trust: FromHubSpot, it has been shown that more than 74% of people do not believe in adverts, but over 90% of people trust recommendations and suggestions from friends and families. 70% of people also trust customer reviews. This means that people trust word of mouth more than they trust customer reviews and adverts. If your brand is online, customers will have to trust you before they hand over their payment details to you
It has been proven time and time again that word of mouth marketing is the most beneficial type of marketing. However, before trying it out, make sure that you are selling a product that has a good quality and be ready to go the extra mile to satisfy your customers.