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Remember that old familiar, childhood game of gossip? The game begins when one person whispers something to another, and so on around a circle. The end result is usually very different from the beginning. The same thing happens in the adult world - and the underlying principles impacts the marketplace. When people have an unpleasant experience, statistics say they usually tell eight other people. Those eight tell another eight, and so on. Known as the multiplier effect, it can have a strong negative impact on any business. Instead, what if people who are pleased with a business experience tell eight people? The company will reap positive results and business increases. Word-of-mouth marketing is a powerful tool that can make a difference for business executives and their companies. The good news for entrepreneurs with limited financial resources is that this kind of marketing is free. The simple definition for word-of-mouth marketing is "staying in touch with people." Planning a few minutes of time each day to send an e-mail message, write a note or make a phone call can lead to golden opportunities. Regina Bruce, a financial consultant in Dallas, reaped the benefits of word-of-mouth marketing first-hand by contacting a friend from college. Bruce's friend gave her two contacts that led to new accounts right away. A year later, one of the contacts resulted in seven new accounts totaling $1.7 million. A Good Impression. A memorable greeting is vital in making a good impression. The most unforgettable people are often those with the most powerful introduction. Business executives who want others to talk about them and their company must make a good impression and give people an easily repeatable phrase. Burger King made the "Have It Your Way" greeting an icon in American culture. Even four-year-olds were singing the notable "Hold the pickles, hold the lettuce" jingle. The multimillion-dollar corporation effectively communicated to the public that it cares about personal service. On a small business level, the method works just the same. For starters, business executives should create a repeatable phrase to include with their personal introduction. It should be clear, concise and personable so that it flows easily and naturally. Some key phrases suitable for greetings include: "I love helping people . . ." "I make sure my clients . . ." "I am dedicated to . . ." "I enjoy working with . . . to . . ." These types of introductions can be especially valuable in certain industries, as some people will immediately check out when they hear words such as attorney, CPA, financial planner or insurance agent. In other cases, technical jargon can be hard to understand. A molecular endocrinologist changed her introduction to a simpler statement, "I'm a professor at the University of Texas and I study how hormones work." With her new phrase, she never fails to generate an interesting conversation. Having a New Attitude to Build good business relationships makes good business sense. The obstacle for many people in marketing is the feeling of being a "pushy salesman." It is important for company leaders to remember that being vocal about business is of service to others because it makes it easy for them to find the firm's service when the need arises. Encourage satisfied customers to tell others how they value your service. |
