By David Barth and David Wenner, Co-Founders of VocalReferences
Here's a really good definition of Word of Mouth Marketing (WOMM) from Entrepreneur Magazine: An unpaid form of promotion in which satisfied customers tell other people how much they like a business, product or service.
So the question is, why is word of mouth marketing important to your business?
t is a well established fact within the marketing community that a happy customer is a business's best sales person that can steer a lot more new business to your product or service. Assuming a business is generating any type of sales then it's pretty easy to calculate the exponential sales value of those existing customers. Here's a great comment from Suzanne Fanning, President of the Word of Mouth Marketing Association: a good word of mouth marketing (WOMM) campaign generates thousands of conversations, recommendations and triples sales in just a year (yes, even for the boring products).
Some important facts. WOMMA and the American Marketing Association (AMA) came to the following conclusions in a recent study: 64% of marketing executives indicated that they believe word of mouth is the most effective form of marketing. However, only 6% say they have mastered it.
So what we have here is a perfect storm of a real business need combined with the reality that most businesses are not fulfilling this need as best as they should.
This is where video comes in. At VocalReferences we're prone to say "There is no sales device as powerful as the real and genuine voice of your satisfied customers." Sounds familiar? This is the essence of word of mouth marketing (WOMM). Videos allow you to take the strategy of word of mouth marketing and grow it exponentially. Don’t wait for your customer to tell a friend and then for them to tell a friend (good, but it takes along time). Share your existing customers’ recommendations of you online with all your potential NEW customers. Having videos of your customers singing your praises makes it easy to grow a word of mouth marketing campaign quickly and effectively. In today’s wired, social frenzy world, once a video is captured, it’s a snap to display, share and blog their comments over and over again. In this way, recommendations of your business go viral.
At VocalReferences, we've addressed this need for maximizing the power of videos. We makes it easy for businesses large or small to capture the voice of their happy customers in many forms (in-person, on your website, or via email), display them online and share them on social media, as well as making it easy for your customers to share their recommendations of your business with their friends. All this leads to new found business for you.
VocalReferences is the perfect way to make your word of mouth campaign a reality. Start yours today.