Word-of-mouth marketing is a popular concept of spreading awareness about a product or brand that usually results in a recommendation. This occurs as a natural conversation that transcends into a marketing strategy that actively encourages consumers to share their recommendations and opinions.
Even though word of mouth is an old concept borne out of face-to-face dialogue, thanks to technology, word-of-mouth marketing is no longer limited solely to face-to-face conversations.
Online conversations about brands are taking place every day. Customers might already know your products even before you formally introduce them. And customers already learn about your product online.
You could leave your online brand reputation in the hands of pseudonymous online users and third-party websites and hope for positive reporting. Alternatively, you can pro-actively drive word-of-mouth by having strategies in place.
You might think that word-of-mouth marketing methods fit well ecommerce brands for example, but not for B2B industries.
First Steps for Word of Mouth in B2B Industries
Similar to ecommerce, strategies like referral marketing work just as well and sometimes generate better results for B2B companies. Creating long-lasting and authentic customer relations takes time, but here are three simple steps to get started.
According to study done by Nielsen’s, 85% of consumers say they either completely or somewhat trust recommendations from family and friends about products. This makes peer recommendations or between customers are the highest source of trustworthiness.
While the process to convert a customer is long and requires active involvement, trust proves to be the shortest road to get customers onboard.
Turn to Existing Customers
Word-of-mouth strategies, like a referral program, enable companies to track the sharing behaviour of their existing customers. Even a single good brand experience can move your customers to make repeat purchases and recommend your products.
In fact, studies show that recommended customers are 20% more likely to stay with a business than other customers. More importantly, referred customers tend to spend more and have longer lifespan as customers. Consequently, you want to make sharing your brand as easy as possible for existing customers.
Automate Manual Processes
There are a lot of variables involved in building trust with your customer base and attracting new customers. Thanks to marketing automation, your word-of-mouth techniques can be easily deployed, expanded and managed. Technology ensures that ambassadors are easily enrolled in referral programs, influencers are reached, and affiliates are rewarded in a timely manner.
They get rewards and you get cost-effective, high-quality leads and sales. That’s a win-win for ambassadors and marketers alike.