May 2021

Getting started with word-of-mouth marketing

There's a classic TV commercial from the early '80s that you may remember. In the ad, a woman says she loves her shampoo so much that she told two friends. Then she continues, “And they told two friends… And they told two friends… And they told two friends,” and so on until the TV screen was filled with dozens of pictures of the happy customer.

The commercial illustrates the power of word-of-mouth marketing.

According to an article on Bank of America's Small Business Resources site, word-of-mouth marketing is among the best ways to let prospects know about your business. It's among the most trusted forms of marketing, according to 86% of consumers. By comparison, only 62% of consumers trust TV ads, and only 48% trust ads on social media.

But the most impressive statistic is this: 59% of people who have had a positive experience with a product will tell their friends and family about it.

Someone doesn't necessarily need to be a client to recommend your small business. They just need to know, like and trust your business. If they do, they will share that enthusiasm with others.

Podium Starter is a free service that helps you connect with clients and manage online reviews. To learn more about Podium and other apps that can help you gain powerful business insights, visit Bank of America's Connected Apps page.

Back in the '80s and '90s, the opportunities for word-of-mouth marketing were very limited. After all, a happy customer could only visit so many places and speak with so many people. But these days, thanks to online and social media, a good review or endorsement can reach millions of people in seconds.

There's no question that word-of-mouth marketing can help your business grow. But the most important thing to remember is this: Nothing will assure more positive word of mouth for your business than quality customer service.

To review five steps that can help you develop an effective word-of-mouth marketing strategy, read the article on our Small Business Resources site.

To discuss your business goals, set aside some time for a telephone call with a Small Business Specialist.

MAP3570161 | 4/2021