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Home Business
A beginner's Guide:
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The Power of Word of Mouth
Any information passed on from one person to another, usually verbally and in an informal manner, is called word of mouth. Generally, it happens face to face, but phone conversations, SMSs, internet chats, emails, etc. could also be included in the definition. Undoubtedly, it is the most trusted and oldest way of creating awareness or passing information. The sender and receiver involved could be friends, relatives, colleagues or even strangers to each other where the most common objective is to either help the receiver or simply share a pleasant or unpleasant experience.
Your good old friend, for example, would always inform you about things that he experiences and likes or dislikes, whether it’s an exquisite menu at an eating place or his adventures at an exotic getaway or about how he almost fell asleep in the cinema watching that much hyped movie! And you would trust his word, wouldn’t you? A negative opinion by him too would work as effectively! It is a fact that the receiver of a negative opinion tends to develop a firmer belief on it as compared to its sender.
It only goes to show how powerful word of mouth can be. It is also called WOM or buzz and is the basis of home business. In your home business, it can make or mar the reputation of your company. Entrepreneurs network with people by passing on positive opinion about their companies. The prime objective is to rope in more and more people in the network.
You can use to your own benefit the merits of buzz marketing that work much faster than any other advertising tool, and for doing that you get paid too! That’s the fundamental difference between multi level marketing and other conventional business models.
This effective marketing tool informs your prospects about your home business, secondly, the information is trusted by them, provided you to do the job skillfully, and the end result is a faster business growth. There are various ways of accomplishing this.
While you practice this technique, don’t hide the fact that you are doing it to promote your home business. There is certainlyno harm in being open about the whole thing right from the beginning. If your prospects find the credentials of your company impressive, you would anyway be sought after by them. Don’t we ourselves go for products or services that we find value in? So there is nothing wrong in marketing and advertising your business; what is not right is creating a hoopla and hype about it beyond rational limits, so much so that people feel cheated after not finding it up to their unnecessarily raised expectations.
Your style should be such that your prospects believe every word you talk about your business. They should get a feeling that you are talking to them as a friend or a guide and that you are a marketer is just a matter chance. When they develop such a notion about you, you have quite efficiently done your job!
You must identify social groups in your territory or area. Try finding out who is the leader or influencer or trendsetter in each group. Once identified, tap them and apply the buzz marketing technique to them. Once they believe in what you tell them, they would convey the same to other members in their groups as well. This may sound easy, but the trick lies in reaching out to the group leaders.
You can also send mailers or newsletters for this purpose. In case you have testimonials, you should mention them in the mailers and newsletters and ask the readers to forward or circulate them within their friend circles.
Many social networking sites are doing a fantastic job to support the word of mouth marketing. Become a member and get networking with thousands of people to promote your business. It’s almost similar to traveling to different places, meeting new people and introducing your business to them. Imagine how easier it is now to build relationships across the world!
Women have an edge. Socially, they fare better than their male counterparts. A housewife can effectively use the buzz marketing tool in home parties to promote her home business. Women have been enormously successful selling Tupperware brands in such parties.
The only perceived harm word of mouth marketing can cause is it can devastatingly backfire. If your business or company doesn’t come up to the expectations of your members, a negative word spreads among them and even before you are able to brace yourself to assimilate and take stock of the situation, the chances of your doing business with at least the same group or community go bleak for a long time to come!
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