Entrepreneurship on Line

Aiming for skilled entrepreneurs.

Monday, June 28, 2010

Word of Mouth Marketing (WOMM)

Word-of-mouth is what is generated when someone talks about somebody else. Somebody gets excited about something they saw on TV or bought and tells a friend, and they "catch" the excitement and go out and buy it too.Word-of-mouth marketing is the art of generating positive word of mouth, harnessing excitement around the product or service, and riding it all the way to the bank.

Buzz, viral marketing, grassroots campaigns, blogs, influencers, social media, customer engagement, referral marketing, customer evangelism, reputation marketing-- all part of word-of-mouth marketing.

Positive word-of-mouth spreads like a disease, which is why viral marketing is such a great name for it.

There's negative word-of-mouth marketing too. The old chestnut that if someone has a good experience they tell two people but if they have a bad experience they tell ten is quite true even if the numbers aren't precise. It could be 3 and 7 or 1 and 10. Still, negative word of mouth can kill you. Think what the prospects are of a restaurant succeeding if a food critic shows up the first night and a cockroach walks across his table. Nada is what that place's prospects of success are.

Not everything spreads quickly. Some things spread faster than others. To read more about what spreads and what doesn't, there's a host of books. Or you can read the Wikipedia article on Word of Mouth and follow their links.

You want to generate lots of positive word of mouth. It will make you rich.

Entrepreneurship is the life's blood of all my professional activities. It makes them go. And go read my mystery for free at wwww.kearneymusicschoolmurders.blogspot.com or buy it from Amazon.com more cheaply than you can print it out.

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1 Comments:

Blogger Abhas Verma said...

wow very nice blog hope u would like to visit mine also
http://numismatology-abhas.blogspot.com/

June 28, 2010 at 7:12 AM  

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