LogoMotive July 2007

Getting The Word Out!!!
by: Mike Ratner

Day to day business activities such as banking and credit card transactions happen electronically however, almost all are initiated by having a conversation. Realizing customers are looking more for an experience rather just a product acquisition smart marketers are employing the word of mouth marketing strategy to engage the public on this level on a much more intensive level than they did just a few years ago.

Although there are no hard and fast rules to employing an effective word of mouth marketing strategy there are a few tactics which have proved to work for many of the most successful Fortune 500 and specifically the mega-giant companies of today.

It is important to understand why word of mouth marketing has become so widespread recently. To begin with, it is the cheapest form of advertising a company can afford especially when using the internet as a tool for spreading the word. If using credible sources it can build on strong sales base, especially for smaller companies.

However, smaller companies should be careful on using this strategy as it could also result in negative word of mouth marketing if not applied correctly.

The following are some important factors one should take into account when devising a word of mouth marketing strategy

Source credibility – can be simply understood as perceptions of expertise and trustworthiness. It gives consumers the belief that the relevant communicator is competent and willing to provide necessary information to evaluate competing products adequately.

Hence, the first step marketers of small companies need to do is build on the source credibility. Building on ones credibility can be enhanced if the sources qualifications are perceived as relevant to the product being endorsed. For example, attaching your product as a sample with another company’s product which has relevance will not only give the consumer an opportunity to experience the product but its attachment to another well known brand will increase its credibility.

Capitalizing on relative advantage is another important factor to take into account when building a strategy for word of mouth marketing. Consumers often look for particular attributes in a product when making purchasing decisions. These attributes could be as simple as the fragrance of a deodorant or the quality of paper used for business cards. Unfortunately, in reality marketers do not always know which attributes are most important ones for their consumers when making a purchasing decision. It is however possible to learn of which attribute is the most striking for consumers in your own brand. It is then up to the marketer to use that particular attribute to convince the consumer this attribute is the most important attribute. It is the importance of narrowing on these attributes and influencing consumers that wins them over to spread the word of your brand.

Targeting the right consumers by reaching the opinion leaders is the key!

Everyday we find ourselves giving and receiving opinions on many different occasions. However, as the number of opinions keeps increasing we tend to flush away the irrelevant ones and retain ones which are more credible and applicable. It is sometimes difficult to understand why we retain some opinions of some people and why not of others. In marketing terms it is fairly easy to comprehend this behavior and as most people will understand it is called seeking opinion leaders. Opinion leaders are seen as knowledgeable about a given product and whose opinions are highly regarded; therefore, tend to influence the choices of others. As marketers it is generally difficult to identify specific opinion leaders; however marketers do know of their general characteristics and should target them in media promotional strategies. Influential opinion leaders work a long way in a brands development and growth.

Successful sales and marketing efforts evolve around how a product, person, placement and service is talked about. I call birthing and crafting a strategic Word of Mouth marketing plan WOMB because success centers on behavior and how you are having a particular dialogue in regards to your product with your peers and clientele.

Bad rapping, spin or nervous avoidance of key questions can cause negative impact and I would hit the brakes on whatever is being said if customers shake their head in disbelief or if your credibility is questioned. Give caution to what your people say about any person, company or product by first qualifying the statement three ways.

A. Is it true? How so?
B. Is it a kind reference?
C. Is what is being said or described important and necessary to know about?

If any one of the above criteria is breeched the likelihood of your WOMM strategy succeeding is nullified because the words will have been tainted with loss of social proof. Top of mind awareness and being talked about positively requires insight.

Insight brings mastery of what is called “permission” or “viral” marketing where what is being said is carried forward by the person hearing it to others without much loss if any of content and contribution. Contribution levels depend upon how enthusiastic a person is about a particular market and who they talk about it to.

The other factor to consider is how often your ‘mavens’ and ‘ravens’ connect with your target base.

Permission begins with getting a positive TIE established. I developed this method by observing how certain ‘gurus’ and celebrity types interacted with their social environment. What I noticed first off is the asking of permission three ways T.I.E

1. T is Time. You cannot successfully establish a positive TIE if a person says they do not have TIME. So ask first, do you have a couple of minutes or whatever block of time needed. If not, ask to schedule a 'good' time when it is convenient for all parties.

2. I is for Interest. No matter how relevant or important you think the information you have is – you must first check for interest by asking if the subject you are about to bring up would be of interest and would they care to hear about it. If not, NO WAY do not infringe on another person’s space – simply talk about what interests them and if your topic of conversation comes up or gets asked that's your proper ‘in’.

3. E is for Energy and environment. If your prospect says they have the time and interest in your topic but appear tired or falling asleep what is the point of trying to communicate? Be respectful of environment which includes noise, temperature factors and who else is potentially listening in. You want to create a good TIE right?

Good TIE elements are essential for identification with whole brain functioning and should be considered primary however, it possible to talk to a person’s subconscious mind.

The giants of the industries focus on creating what we term as a marketing BUZZ.

It is the smaller companies that need to focus on an effective buzz which leads to business growth. In this regard, it’s not just important to cultivate a successful word of mouth strategy but to look at the overall behavior that reflects a solid relationship understanding to what is being talked about. A WOMB strategy effectively markets your product or service by establishing a positive identity in the marketplace. Here are a few more pointers for you to consider in birthing your WOMB strategy:

Word Of Mouth Birthing strategy:

1. Develop your service motto, mission statement and practice your ‘spiel’ or pitch with everyone in your company (not just sales people or affiliates). How do people associated with your company talk about your business? Check, you’ll be surprised.

2. Create a blog or monthly newsletter that offers tips, news updates and creates a positive profile for your company, product or service. Feature a customer or rep.

3. The growth of internet radio, video and podcasting is phenomenal; why not take advantage of the trend by producing your own weekly program? World Talk Radio offers everyday folks like you and I the opportunity to host your very own talk show.

4. Make your ‘A’ team out to be experts in your particular field or niche. Hire a PR company to represent you by getting quality publicity through magazine/newspaper articles and interviews. Get out in the public eye and speak at networking events.

5. Finally, ALWAYS pay attention to the market place.

How customers are responding back to you – reflects the real world in micro-cosmically. Take seriously what is said because it reflects possibly what others are saying about your service to other people.

Customer care is #1 and check your relationship history with past purchasers and by checking review sites and the Better Business Bureau. Track your blog comments and post testimonials and endorsements. Craft your image by offering rewards and incentives to people that really rave about you.

Also by doing some community good get involved in local events and charity fundraisers. If nothing else a good WOMB strategy makes for good behavior and company conduct setting an example for others. Remember, through this process you are educating your audience base.

If you would like more information on hosting your own internet radio show or finding out about how to start a WOMB PR campaign feel free to contact me.
 

Articles in this edition of LogoMotive:

Logo Power!

Car Magnets

Logo Rugs

Get the Word Out!

Back to School