In my last post I had shared with you the importance of Word of mouth marketing and why it should be an integral part of every Company’s PR and marketing plan.
In this post I share with you some statistics to prove this. In a recent report by Nielsen Global Online Consumer survey of over 25,000 Internet consumers from 50 countries, it emerged that “Recommendations from personal acquaintances or opinions posted by consumers online are the most trusted forms of advertising. Ninety percent of consumers surveyed noted that they trust recommendations from people they know, while 70 percent trusted consumer opinions posted online.”
These results are quite significant as it reaffirms the power of Internet/online media and in particular the growing influence of social media. Today as marketers we are dealing with a more aware, informed and inquisitive consumer, who has several channels and mediums to seek information about a company, its products and the quality delivered, before making a purchase.
While WOMM is critical to any business, it is hard to generate, especially for B2B clients where the target audience is niche. In a B2C scenario, some success can be expected, by ensuring a quality product which caters to a significant need of the end consumers; by creating awareness and excitement for the product among the target group using various media channels; by listening to their suggestions and feedbacks and improvising on the products if required and foremost by keeping the channels of communication always open between the company and its end consumers.
In B2B since the stakes are higher, referrals are not easy to come by, also clients refer your services or products to other businesses if they themselves have tried, tested and are completely satisfied with your services over a period of time. In such cases the gestation period for generating leads through referrals can be a lengthy and uncertain process. Following some of the B2C procedures mentioned above might speed up the process and might ensure a more satisfied customer but may not result in a referral.
So how do you ensure that your customers in both B2C and B2B type of businesses give you referrals?
It is simple – incentivise their referrals! Combine a referral with a reward program, it could be discounts, it could be entering a sweepstake program, giveaways, any reward program that you can link to your product or service and your customers can benefit from.
- Giving incentives for referrals – HELPS
By initiating such a marketing activity, you give your customers an added incentive to refer you, in the process ensuring both parties involved are happy.
When planning such a program ensure you are present in every medium which your end customer uses – these might vary for B2C and B2B companies.
The marketing and PR should be well planned and coordinated, so that you reach out to all your customers. For the time period the program is running, all your messaging should work towards promoting the program, on your website, on your ads, billboards, on your press releases, on social media forums, wherever you expect your customers to be.
It is only a matter of time before the technique starts finding you success!
Such programs are not new, have been tried and tested by several companies over the years, and have found success even offline.
I am sure most of you will remember the simple referral campaign run by the magazine Reader’s Digest. Fill in 14 addresses of people you know and win an interesting book in return. They would then reach out to your contacts with a personalized letter stating you thought your friend would like subscribing to Reader’s Digest. Simple but effective way of referral marketing and it did help the magazine to a great extent in becoming one of the most read magazines in the world, even though it was circulated only through subscriptions(not sold on stands), until some years ago. I have filled many such forms as a teenager in lure of the books and have seen many of my family and friends subscribing to the book….see I told you it always works 
In a world where there are so many voices and opinions some times it helps to raise the stakes……..
