Manage episode 291935601 series 2814726
Word Of Mouth Marketing: The Simple Math That Generates More Referrals
The power of a personal recommendation.
And as a business owner, that’s the kind of marketing you want behind your brand.
That is the core of word of mouth marketing and is the marketing strategy that you should be using right now.
What Is Word-of-Mouth Marketing?
Word of mouth marketing, often called word of mouth advertising, is a marketing strategy based on personal recommendations. It has been around since the beginning of time, though in traditional marketing, these recommendations were genuinely given by word of mouth.
The difference between traditional WOM advertising and word of mouth advertising today is the lightning speed at which personal recommendations can be shared online.
Especially through social media.
Now, many of these personal recommendations come from an influencer on social media, an online review, or a happy customer simply sharing their positive experience.
Top 2 Reasons Word-of-Mouth Marketing Works:
1. Social Currency
Social currency relies on the idea of exclusivity. In short, we like to feel special.
Hearing about an underground club or secret menu item triggers our need to belong to an exclusive group.