Wednesday, July 29, 2009

Word-Of-Mouth Marketing: A Core To Your Business

In a difficult economy, a common mistake that business owners make is eliminating marketing during the difficult times. Although your budget may not be what it once was, it is more important than ever to still allocate money to your marketing fund to keep promoting your business.

According to Small Business Trends, word-of-mouth marketing should be part of your core business. Word of mouth marketing doesn’t cost you any money but allows you to convey the exact message you want to send to your audience. Not only will you be able to get your marketing message out to the community but at the same time you might be able to gain business ideas and strategies, gain referrals, grow your customer base, etc.

“What’s so important about Word-of-Mouth? You hear and read a lot about word-of-mouth marketing. Every day there’s another resource or opinion about it.
I can only answer this from my experience as CEO of a small company. But word-of-mouth is so important to a company’s success, especially a small company, that it should be the core of your business.

Why? It creates a sustainable business model. Every business seeks to be self-sustaining. And a strategy built around generating word-of-mouth is a sustainable strategy.”
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2 comments:

S said...

I totally agree. Word of mouth marketing is the way to go if you can do it, and with social media, it's actually never been easier, ironically, during this recession. For example, if you make a short, fun video and put it up for free on sites like YouTube, AdWido, and Vimeo, you can share it with buddies and hope it gets spread around—word of mouth at its best.

Toby said...

You have really hit the nail on the head - the recession is definitely not the time to be on the 'back foot' when it comes to marketing. Word of mouth really is of of the best ways to accomplish effective marketing. I think another method, which is often underestimated is print marketing. We've just started a new print marketing project - we're using http://www.digitallizard.com/small-medium-business.php and have been really impressed with their services. Looking forward to seeing the impact in the future.