THE ROI OF WORD OF MOUTH
From Word of Mouth Marketing by ANDY SERNOVITZ
REDUCED CUSTOMER ACQUISITION COSTS
Word of mouth customers are free. Every one you get lowers your average cost of new business.
Word of mouth promotion doesn't cost a thing.
BETTER RESULTS FROM TRADITIONAL ADVERTISING
Word of mouth supports your ads' messages and spreads them around.
MORE PRODUCTIVE SALES PEOPLE
Every salesperson performs better when positive word of mouth is helping them close more deals.
MORE SALES LEADS
Free prospects come in every day from personal referrals.
REDUCED CUSTOMER SERVICE COSTS
As you answer more questions as part of the public conversation, fewer people need to call.
Permanent, public recommendations add up to a healthy, positive reputation.
The net impact: more business, higher return on investment, and lower costs. Word of mouth marketing does more than make money on new sales. It makes all of your sales and marketing more effective.
This leads to another important conclusion: Satisfied customers who will spread word of mouth are the most powerful assets you have. So do the following three things for your customers:
1. Protect them
2. Treat them with respect.
3. Listen to them.
You will do better marketing and be a better marketer because of it. Learn this and you will survive and thrive.
Mandy Zelinka is the former Digital Marketing Manager for KEVIN.MURPHY International and owned one of the largest award-winning salons in Portland, Oregon. She was also Voted Best Hairstylist in Portland in 2016 by The Portland Fashion + Style Awards.
But she’s best known for tobogganing down the Great Wall of China as a United States Diplomat and First Lady of a City.