Is Relying onWord of Mouth Killing Your Business?

or, How to do Absolutely Nothing and Expect the World to Buy Your Stuff,  (pt1)

Let me ask you- who are you favourite customers? I’m going to bet that they are the one’s that come to you through word of mouth. I know, I love them too. They are easy sales, they are quick sales, they are happy and easy to deal with. If only all of your new customers could be like that, you think. It even costs you absolutely nothing.

A lot of businesses rely heavily on word of mouth to find new clients. In fact, probably 80% of businesses owners I speak to do no other form of marketing. The only problem with this, is that it’s NOT marketing.

Don’t get me wrong, it’s great that you are getting word of mouth referrals. It means that you’re doing a great job with the clients you have, and it is something to be happy about.

But here’s the big elephant in the room that you’re ignoring right now, if your current clients stopped promoting your business for you, what would happen?

Now, I’m not suggesting that they will stop because you do anything wrong. I’m not suggesting that they’ll stop because they don’t like you anymore.

Consider this, you’re busy, right? Not just with your business, but with your family, with your friends- there are so many demands on our time right now, it’s hard to beat the clutter. Your clients are just as busy. They have their own lives going on, their own responsibilities and their own crisis’s to manage. They have their own never ending list of priorities.

And you know what? Promoting (marketing) YOUR business is not high on their to do list.

That’s a fact. I can guarantee it.

Let me ask you, and I really want you to pause and think about this. How heavily are you relying on word of mouth to bring you new customers right now?

What would you do if suddenly, they all stopped? Would you even know how to actively and effectively promote and market your business to generate those new leads and new prospects on your own?

I’m guessing a few of you are looking a bit concerned. I’m guessing you’re thinking, where would I find the money to start advertising, and how and where would you do it? How would you know if your ads were working? How would you know if they were an expense or an investment?

(Obviously, all marketing your undertake should be an investment- meaning, for each dollar you invest, you should see at least a dollar back. Multiples of that dollar are preferable.)

If your business is relying on word of mouth to gain new clients and generate new leads, it’s a double-edged sword. WoM brings in cheap (or no cost), quality, warm leads that easily convert into sales. It’s very seductive, and easy to stay lazy and keep relying on it to try to grow and build your business.

If you do though, know this. You have no control.

You have added no value to your business.

Your CLIENTS own your business, not you. And that should scare you.

Marketing your business, knowing how you can turn on a tap and generate new leads, and importantly, new leads of the kind of people who you know you can help is not optional. It’s not an expense. It’s not a luxury.

It’s an absolute necessity.

Without understanding and undertaking effective marketing, you don’t actually own your own business.

 

Want to know how you can plan your Ideal Business? I’ve recorded this FREE video training showing you exactly how to do that. Click the link below to watch it, now or later- I’ll email you the link- and plan your Ideal Business in less than 1 hour!

Click Here to Get the Free Video Training

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Written by Anita Marchesani
I've come to small business the long way round- but enjoyed and learned from every single step. I learned about the power of Media during a BA and while working in Film&TV. I learned about the hard graft while groom for an international eventer in the UK. I learned organisation and staff management from running hundreds of weddings both here and in the UK. I learned from the mistakes of my first business that failed, to create an e-commerce success story, and now I'm here to help you have even greater success in your business. Oh, and I dance to really loud music like a crazy bastard.