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Monday, February 6, 2023

SUMMARY ATTEMPT | SMALL BUSINESS BIG MONEY | AKIN AKINLABI | CHAPTER FIVE

CHAPTER FIVE | WORD OF MOUTH MARKETING: HOW TO GET OTHERS TO TALK ABOUT YOUR BUSINESS


While advertising is great, it can never be as powerful as recommendation from other people.

While what you say about your company and products is important, people will always trust what others say about you over what you say about you.

Getting people to talk about you is something you must work towards.

According to Nielsen Holdings, a global information, data, and measurement company, 92% of consumers believe recommendations from friends and family over all forms of advertising.

You have made a lot of buying decisions based on what your friends did and said.

So if Word of Mouth Marketing is so great, why are most business people not engaging in it?

People will talk about fantastic products but you cannot wait for that. Smart business people do not allow things to happen naturally. They make things happen.


How to stimulate WOM

1. Super Customer Service

Having superb customer service is very important. Quality customer service will make people love you. When they love you, they tell others about you.

Quality customer service will make people feel special which is a great way of keeping customers. Research has shown that over half of customers leave a business because of bad customer service.


From Dan Kennedy, author of No BS Book Series: why customers stop buying from people.

1% of your customers stop buying from you because they die.

3% move away.

14% are lured by a competitor.

14% are turned away by product dissatisfaction.

68% Leave Because of Indifference and Poor Attitude/Customer Service!


Bad products is not as bad as customer service. Many business owners do not know how important customer service is. Customer service is not a department. It is everyone’s job

Another point I like to raise is that we should be thankful for the customers that call in to complain. The truth is that most customers that are unhappy do not call.

Never criticize the customer that called you names over the phone. Thank him and take care of him. He could have left without saying a word and you wouldn’t have known you lost a customer. To make matters worse. He
probably will talk about you negatively to others.


2. Stay In Touch Even After They Have Bought From

You can get people to tell others about you and your business if you follow up on them even after they have bought from you.

You can even go further than that. Send them messages at important times. Birthdays, new year, anniversaries etc. I don’t mean those forwarded messages and prayers. Those ones are annoying. Send personalized messages. Make calls..

You can only send bulk messages if you are in a business where you have thousands and millions of customers.

It does not matter what you sell, follow up on your customers to check on them to see if they like your product or service and also offer to help them if they need anything. Make them your friends.


3. Reward Them

This is alien to a lot of small business owners. If you want your customers to rave about you to everyone around them and also keep them glued as a customer, you should find a way to reward them.

You should be spending on your customers.

When you pamper them, they will tell others about you.


4. Use of Influencers and Opinion Leaders

Opinion leaders are individuals and organizations that have influence over people’s choices.

If a company can get opinion leaders to talk favourably about their products, there is likelihood a lot of people will start talking about the product.

When opinion leaders and influencers talk about a brand, their followers will start talking about that product.

You need to get an influencer or opinion leader to recommend your product even if you have to pay for it.


5. Outstanding Product and Service Delivery

When a product is well prepared and delivered, customers will naturally say good things especially when there are certain aspects of the product that are unrivaled.

Talking about quality, it is not just about the product you are selling, it is also about how you deliver it.


6. Reward for Referrals

In your business, you must find a way to create a referral program that will reward people for bringing you customers.

Having a reward for referring friends will encourage word of mouth.


7. Strong Online Presence

It is important to have a strong online presence through social media, blogs, forums and other platforms and encourage satisfied customers to put up their testimonials/reviews.

This very important. Your satisfied customers should be leaving positive comments about you all over the Internet.

People’s decisions are influenced by what others are doing.

You need to get your positive contents, testimonials and reviews out there for people to see. This will help shape people’s buying decisions in your favour.

Chapter Four | Chapter Six

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