Inside Small Business | Small Business & Home Business Marketing

Generate Word of Mouth Marketing

Nancy Michaels

Additional Ways to Generate Word of Mouth Marketing

The goal of any business is to keep customers happy and hope that they’ll talk you and your business up to others. It’s always easier to keep a client than find a new one – unless of course, your existing clients are spreading the word about your good work.

1. Keep Track of the Results and Benefits of Working With You

Remember to document the results you bring to a client and keep an on-going list of accomplishments that you can share with your client and/or keep to tell the story of why it’s worthwhile to work with you. Keep a folder on your desk and write yourself notes, make copies of important documents, testimonial letters, thank you letters, etc. to incorporate in future correspondence to clients and prospects.

1. Professionally Remind Your Customer of the Results You Bring

On a regular basis, perhaps quarterly, remind your clients about what results you have brought to them during the past three months. Ask them for their feedback on ways you could improve this process and what they most appreciate about working with you (a great opener for a potential request for a referral).

1. Create a System of Communication with Your Top Clients

It’s the old 80/20 Rule in business. You get 80% of your business from 20% of your prospects. When we market – we tend to market to everyone at the same level, when we really should be paying attention to the20% that gives us 80% of our revenues. Identify who your 20% is and create a simple plan to communicate with them each month. Here are a few ideas. A monthly e-zine that’s relevant to them, an article of interest that you’ve authored, an invitation to lunch (one per year), a phone call, a postcard, something that says to them that you are thinking of them, appreciate their business and want them to keep you top of mind.

1. Identify and Attend Events They Are Likely to Participate In

Networking is another effective way to generate referrals. Begin by knowing what events, trade shows, association meetings you might want to participate in in terms of client development. What events are your clients and prospects attending? Can you speak to these groups, participate on committees, and volunteer in order to increase your visibility? What commitments can you make on a monthly basis to see and be seen at these events?

1. Create a System to Thank Your Referral Sources

Ask your clients what they’d like from you in terms of a thank you for a referral that they might make to you. By asking the question – even early on in your working relationship – you will be planting the seed in terms of thinking about you as someone to share your name with others who might be looking for the same kind of service provider. Everyone likes to be thanked for helping someone out as well, so you’ll position yourself as being grateful and professional.

Related Topics: Advertising, Branding, Business, Entrepreneurship, Marketing    No Comments    

Raving Fans and Loyal Customers = More Sales (Pt.4)

A Loyalty Measure for Businesses of All Sizes - Net Promoters

The idea of Net Promoters of your business is a quick and easy way to identify the positive, raving fans (net promoters) vs. the detractors of your brand.

The concept is based on one question: Would you recommend us to a friend or colleague? Then answer is provided in a format of 0 for “extremely negative” to 10 ” extremely positive.”

What does a high percentage say about a company? A higher Net Promoter score has been correlated to a future increase in sales and referral sales. Categories of responses are shown below:

Promoters ( those who answer 9 or 10) are loyal enthusiasts who keep buying from a company and spread the word to their network

Passive (7 or are satisfied but unenthusiastic customers that can easily be lost to competition

Detractors (0 to 6) are unhappy and will stop their relationship with the company at the first opportunity

NPS (Net Promoter Score) = % of Promoters - % of Detractors

Why is this metric important? Especially to a small business.

1. It is easy to implement and monitor over time, it is for all intensive purposes one question.

2. It is easy to score and monitor over time.

3. It is easy to explain and understand.

For more information on Net Promoters: www.netpromoter.com

Loyalty as Part of a Program

The most common form of loyalty is seen in programs from Credit Card or Airline type programs. These are incentive programs, not true loyalty programs. The test of loyalty is if the program discontinued, will the customers stay. If not, it is an incentive. The use of incentives are perfectly fine, however, understand why your customers are staying with your business.

However, non-conventional loyalty programs are less incentive based. They can be internal programs for service, sales or marketing; goals to hit shipping times, quality tests, or customer service levels. It all adds up to loyalty.

It is a key driver of success for enduring businesses, small and large. The importance of knowing your customer groups, their lifecycle, needs/wants that drive their purchase behavior and finally consistent measures of loyalty that correlate to increased revenue. It is a long journey to understand your customer; loyalty is a large part of the journey of that understanding.

Related Topics: Branding, Business, Customer Service, Entrepreneurship, Marketing, Sales    No Comments