It is often said that your customers are your best marketers. Competition is as fierce as it can be. Companies, organizations and individuals are inventing newer methods of marketing products and services. Entrepreneurs have become extremely experimental and several unconventional methods of marketing are now being adopted.
With the development of techniques in the field of marketing and propaganda, the customers are also getting smarter. The availability of so many options and competition has only made it difficult for the companies to retain, grow and expand their customer bases.
How to make a customer stick to your company’s product or service amongst such a vast variety of options in the market has been the question of the decade. As an answer to this question, companies have now started extensive feedback and after-sales operations. The aim of such activities is to provide complete after-sales satisfaction to the customer as part of a customer retention strategy.
And guess what. What does a satisfied customer help a company achieve?
A satisfied customer becomes the biggest source of the most effective marketing strategy known to date – word of mouth.
Word of mouth marketing or popularly known as Word of mouth advertising is becoming a popular technique to advertise one’s products or services.
Also, it is not very unconventional too. According to surveys and reports, more than 70% of people believe the word of mouth review or recommendation of a product or a service from family and friends. They tend to trust someone who has first-hand experience of a particular brand in a particular niche.
Word of mouth publicity is not confined or limited to kin or friends who we know personally. It has been established that more than 90% of the buyers would read reviews or feedback from people or other customers who are not known to them. Even still, people feel connected while sharing positive or negative reviews of a particular product.
In today’s competitive world, a single word of mouth recommendation from someone who had first-hand experience with a particular product or service you are planning to buy can make you go all the way down to the store and purchase it without hesitation.
Companies are now realizing the power of organic word-of-mouth publicity. Hence there is so much focus on making and keeping the customers happy. Only a completely satisfied customer would be willing to share positive feedback about your product with someone else. That is why companies are sharing almost an equal amount on customer service as they do on product or service development.
Moreover, it is the most natural and cost-effective marketing technique that there is. Companies spend millions and millions on traditional and non-traditional methods of advertising. Word of mouth marketing can help you grow your fan base and clientele without incurring a single dime. A happy customer is more than eager to share the positive experience which he receives from using your product or service.
Now one can only imagine how much effective a community of such happy customers can be for the growth and profits of a company. Both the aspects are interlinked and one would not survive without the other.