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Harness the Power of WOM

Today we’re going to talk about how to harness the power of word of mouth. Including the six-step process to success and the 30 (that’s right, I said 30) ways to harass the power of WOM. So, let’s get started!

There are six steps to harassing word of mouth:

1. Understand your customers’ values and priorities, this will help you understand why they would buy your products.
2. Understand the different adopter types: innovators, early adopters, middle majority, late adopters, and laggards.
3. Identify which decision stages are needed for your product to be adopted.
4. Use the information from steps 2 & 3 to figure out which wording, and word-of-mouth tactics are going to work using the Decision Maker Matrix (we’ll talk about this in a minute).
5. Put together the resources for the highest word of mouth impact.
6. Create and implement your word-of-mouth campaign.

The Decision Maker Matrix is based on years of trial and error by George Silverman. It essentially charts different concerns you may come across when working with different adopters and putting together a decision process for each one.

We are now going to move on to the 30 ways to harass the power of WOM:

Use Experts

Experts can come in many forms and all their opinions should be taken into consideration when putting together a WOM campaign. Some experts to gather information from include:

• Customers
• Suppliers
• Experts
• Salespeople
• Experts’ roundtables
• Experts’ selling groups

Seminars, Workshops & Speeches

These venues are a perfect opportunity to gather information. People who attend these types of events are used to giving feedback, so you can use a survey or other method to gather information you can look over later. Some events to use are:

• Speakers program
• Seminars
• Group selling
• Dinner meetings
• Peer selling groups
• Teleconferenced experts’ panels
• Trade show events/opportunities

“Canned” Word of Mouth

The concept of “canned” word of mouth is using hard and online products to get feedback and offer information at the same time. Some ideas for these are:

• Videotapes
• Audiotapes
• World Wide Web
• CD’s

Referral Selling

As we’ve talked about before a referral program can help with a variety of things in building your business. By using some of the following tactics and opportunities you can find out exactly what you need to do to generate positive word of mouth. These tactics and opportunities are:

• Testimonials
• Networking
• Referral Selling Program

“New” Media

The concept of “new” media is the use of up-and-coming media sources and opportunities to get the word out about your products and services and listen for the feedback about them. Here’s some of the “new” media options:

• Hotlines
• Faxback services
• Web-based word of mouth, such as forums, e-mail, etc.
• Call centers

Using Traditional Media for Word of Mouth

Using traditional media is a great way to get feedback. These are still considered mainstream ways of interacting with the public and consumers. Some traditional media outlets are:

• Customer service
• PR
• Placements
• Events
• Promotions
• Word of mouth in ads, sales brochures, or direct mail
• Salesperson programs, sales stars, or peer training,
• Word-of-mouth incentive programs (“Tell-a-friend” programs)
• Customer gifts they can share with their friends (articles, how-to manuals)

Internal Word of Mouth

• Encourage employee word of mouth and sharing feedback with family, friends, and others.
• Offer rewards or commission for word-of-mouth success.

As you can see there are tons of ideas you can work with to increase your level of positive word of mouth marketing. If you need help with any of this, please try our GUIDED TOUR to access our exclusive resources that can help you put this whole thing together.

Word of Mouth Tactics – Part 3

Last time we talked about the second part of the word of mouth tactics that help you put together a system to help shorten your customers’ purchasing decision time, which can increase your profits immensely.

Today we’re going to talk about the nine levels of word of mouth, which gives you a tool to measure word of mouth circulating your company, products, and services. You can then see where you are getting negative or weak word of mouth and find ways to correct it.

So, launching into the nine levels of word of mouth-it should seem relatively obvious that the negative levels are, well, negative and the positive levels are positive.

Minus 4

This is the worst of the worst and means your product is creating a scandal. Remember when the popular over-the-counter pain relievers, like Tylenol were deemed unsafe? Yea, you won’t want that kind of word of mouth.

Minus 3

Disgruntled customers are going out of their way to convince other consumers from purchasing your products and services. They are boycotting you.

Minus 2

While not outwardly boycotting, when customers are asked about you, they will give a negative response.

Minus 1

At this level, people are mildly dissatisfied, and while not outwardly talking about it, they will have an opinion if asked. Now they may purchase from you despite their negative feelings. This can be a little confusing.

Level 0

This is sort of a neutral place to be. Customers are using your products but don’t really talk about them. People rarely ask them about it, so they aren’t sharing their opinion with others. This can be a bit of a slippery slope because you don’t want to turn that neutral experience into a negative one. In fact, you should work to make it a positive one.

Plus 1

At this level, we are finally starting to work our way into the positive word of mouth about your company, products, and services. Plus 1 signifies that people are generally pleased with your products but don’t really say anything about them unless asked.

Plus 2

When asked, your customers will talk about how much they love your products.

Plus 3

Customers will go out of their way to talk about your products, services, company, and their shopping experience with you. This is most evident when you see how people recommend movies to their friends and family.

Plus 4

Your product is the toast of the town. There is an unmistakable buzz going around, and your business is the place to be. People are not only talking about your excellent products and services, but they are talking about their shopping experience, your customer service, and how they perceive the company to help them in the future.

Some great examples of Plus 4 companies are:

• Lexus
• Harley Davidson
• Saturn Cars
• Netscape
• Apple Computers
• Celestial Teas

We’re going to leave this lesson for you to mull over and take a look at what kind of word of mouth you are generating. If you need help with this process, try our GUIDED TOUR to get help from our experienced business coaches.

Next time we’re going to talk about the 30 ways to harness the power of word of mouth.

Word of Mouth Tactics – Part 2

In the last post, we started our series on word of mouth and talked about making your customers purchasing experience a short, easy one. We are going to continue with that theme a bit today. We’re going to talk about the power of word of mouth and how to mold it to your advantage.

The reality is everyone needs an advisor to guide them to make a decision. We rely on the expertise of others to make the right decisions as they are explained to us. When you take the time to understand exactly what and how word of mouth works, you’ll see all the significant advantages it has to offer you. Remember this path when working to understand word of mouth:

• Accelerate the decision-making process for increased profits.
• You can accelerate product-making decisions by making the process easier.
• Instead of low-ball advertising and the used car salesman approach, try delivering on your word of mouth promises.

Traditional advertising draws about one response for every thousand ads, and most of those are to ask for more information before the customer even considers purchasing. When you get information from a friend, you are more likely to take their word for it and act. On average, customers purchase two out of every five recommendations their friends make. That’s a HUGE difference.

So, what exactly is word of mouth? We know how powerful it can be, but to define it: Word of mouth is a communication that happens between a customer and a potential customer. There is usually a relationship of some kind between these two people with an established level of trust.

Compare this to advertising where you are providing a message to a potential customer where they have not established a relationship with you or level of trust. Who are they more likely to take advice from? The answer is clear! We talked above about the benefits of word of mouth, now let’s take a look at some reasons why it works. Some of these are:

• The information is custom-tailored to the potential customer because of the friendly relationship of the referrer.
• It’s more personal, relevant, and believable.
• It’s customer-driven.
• It’s self-generating and can take on a life of its own, especially with the Internet’s information age.
• It becomes part of the product’s description.
• The source of word of mouth can be meaningful and more effective when coming from an expert.
• Word of mouth saves you time and money.

To fully utilize word of mouth, you need to understand:

1. Where is your word of mouth coming from?
2. What products are being affected by word of mouth?
3. How is your word of mouth traveling?

Once you know these things, you can work out a plan to trigger more word of mouth. This wraps up this lesson on word of mouth. If you need help understanding word of mouth and how it can impact your business, try our GUIDED TOUR to access our wealth of resources and tools.

Next time we’re going to dive into the nine levels of word of mouth. These levels help you understand which word of mouth is positive and which is not.

Word of Mouth Tactics – Part 1

Today we’ll start a new series talking all about Word of Mouth and how it can make or break your business in an extremely short amount of time. In this first lesson, we’ll get a feel for what exactly word of mouth is.

Word of Mouth is easily the most powerful form of marketing and is absolutely free. People talk about ads they see, experiences they have, and the products they purchase. If you treat people right and spread the word about your new products/services positively, you’ll attract the right customers and clients who will sustain your business for a long time.

Now, as positive as word of mouth can be for your business, the other side of the coin is how negative it can be as well. Bad news seems invariable to travel faster than good news, and if you have a less than high-quality product or weak customer service system, then your customers will tell everyone they know not to buy your products and services.

The age of technology has proved to be a fantastic benefit in the world of word of mouth. With blogs, podcasts, online marketing, forums, social networking, and all the other online mediums available, it is easier for consumers to share their experiences. And, remember this is all free advertising for you.

Let’s take a minute to discuss the importance of shortening the customer decision cycle to help customers/clients choose more quickly and easily. There are three great ways to increase sales by shortening the decision cycle. They are:

• Increase the overall dollar amount customers spend on each purchase.
• Increase your number of customers.
• Increase frequency of purchases.

Let’s take a more in-depth look at decision speed. Offer simplicity, ease, and a fun purchasing atmosphere and you’ll help your customers make their decisions quicker and more confidently. When this happens your customers will buy more frequently, spend more money than usual, refer friends, and decide to purchase more quickly. This can raise your market share by over 100 times.

The time it takes your customer to decide and purchase far outweighs any other component of marketing. When you focus on customer decision speed, it forces you to take a hard look at your company and brand image, positioning, value, customer service, guarantees, and product quality.

The next area I want to talk about quickly is how to minimize the friction, or stress, involved with decision making. No matter how easily people find decision-making, we all experience a certain amount of anxiety when making a purchase, especially from a new source or for a large amount of money. When you help minimize this emotional response, you will soothe your customers’ anxiety, and they will make their decision quicker and more confidently.

There are a few secrets to accelerate the customer’s decision making progress:

Your benefits, features, claims, and promises must be obvious, clear, and concise.

The information you offer must be complete, easy to understand, credible, and balanced.

Use comparisons that show a marked difference.

Your guarantees must be rock solid and more than the customer expects.

Make trial periods easy.

You must have simple evaluations of your products or services.

Testimonials need to be relevant and positive.

Your support, delivery, and other operational systems must be perfect.

Your website can be as good as you make it. You can offer more than information. You can offer an experience that guides your customers gently through the decision-making process to make it easy for them to buy. Take it a step beyond by offering toll-free support numbers, software downloads to help with the process or other classy and informative ways to reassure your customers that you are there with them every step of the way and have nothing to hide.

This wraps up the first post in our series on word of mouth. If you need help identifying your target market and the issues they are experiencing during their purchase that makes their decision time long, try our GUIDED TOUR and work with one of our coaches to come up with the best way to smooth out your purchasing experience.

Next time we’ll move forward with word of mouth and talk about the power of word of mouth and what precisely this powerful tool is, and what it can be used for.

Multiply on Your Maximizing Resources – Part 4

The last few posts have discussed how to multiply the resources you’ve worked hard to maximize. So far, we’ve covered:

1. Call in the Troops
2. Bring ‘Em Out of the Woodwork
3. Black Sheep Clients
4. Olympic-Size Sales Staff
5. Open Water Fishing
6. Call for Back-Up
7. Go Big Online
8. Bartering with the Best
9. Give Away the Farm

Today we’ll finish up this series with the last three ways to multiply your maximized resources. We’ll cover:

10. Finding Your Pot of Gold
11. Stay at the Top of Your Game
12. Wealth from the Inside Out

These areas are all key to keep up the momentum you’ve found in making what you have work harder for you.

Finding Your Pot of Gold

You must always have a goal you’re working toward in order to stay on course. Your goal needs to be something you can attain and utilize your full potential. Don’t be afraid to aim high, just make sure you are clear on your goal and exactly what you need to do to get there. You need to continue to hold yourself accountable to your goal and raise the bar as you accomplish the steps to your goal.

Stay at the Top of Your Game

Once you’ve mastered these areas, you need to make sure you stay competitive and continuously come up with new ways to use your new tools. Don’t rest on one success when there are more on the horizon. To continue to be successful, your business must continue to learn and revolve.

Wealth from the Inside Out

Wealth and riches are defined within yourself, not by your profits or the world beyond. You can use all these strategies in your business and life to find a greater success level. When you naturally reflect on who you are and what you mean, you will automatically attract the right people. This will happen in life and business.

You can reach your goals as long as they are well-defined and a solid road is built to them.

Throughout the last seven lessons, we’ve talked about how to take a hard look at the resources you currently have right in front of you and maximize them to get the most out of what you already have. Then turning around and multiplying those maximized resources to take them to the next level.

If you need help with any of these areas, steps, or processes, try our GUIDED TOUR to access our resources, tools, and business coaches-All there to help you succeed.