Friday, March 20, 2015

The Power of Word of Mouth

Earlier this week I sat in on a short presentation by a gentleman who discussed his approach to marketing his own product, and he did so in an especially vivid and effective way.

To give the proper credit, Dave Kauwe of Hawaiian Dave's Teriyaki Beef Jerky pointed out the power of word-of-mouth marketing.  In his example, he impresses, say, five people in a day with his product, and they in turn talk it up with five people, who then in turn talk to five each more, and this process happens five times.  That's 625 highly positive endorsements.  I reasoned that if he did this every day of the year, just the first three levels bring him over 45,625 contacts highly inclined to purchase.  That is remarkable power.  Dave also carried the math out six levels and the result is a highly impressive number!

Obviously, the trick is firing people up at each pass.  But the talking-up already exceeds the power of an advertisement because real people are communicating with each other, sharing exciting news.

Lesson: find ways to organize some part of your marketing to generating positive word of mouth, the kind that is shared with friends.  At a return on investment level it is a can't-miss!

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