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December 27, 2005
Word of mouth and small business
The Wall Street Journal today examines word of mouth for its piece, "Small Firms Turn to Marketing Buzz Agents." (Subscription required.)
While writer Tara Siegel Bernard examines one company that employed an outside buzz-agent model to bolster word of mouth for a new product (Vermont's Franklin Foods), the headline is a bit of a misnomer since she also profiles the dependable Bike Friday, which does not rely on outside agents.
Bike Friday has built an enviable customer tracking system on its own, and the company knows which evangelists are influencing its annual $3.5 million in sales any day of the week. (Read our 2002 case study of Bike Friday here.)
As I mentioned in the piece, I think it's prudent for small businesses to explore word-of-mouth marketing using the built-in, massive buzz networks most companies often forget: their existing, loyal customers.
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I have to agree with you about Word-of-Mouth marketing - it amazes me how people overlook it. And yet, their own best advocates are those who have already experienced their products and services. How often do we tell others about what we've tried, tasted, seen, experienced? Our existing and past clients do the same!
