Tag Archives: word of mouth

Strengthen Your Core

I was re-reading a 2001 article from the Harvard Business Review about how to navigate your business in a downturn.  It reminded me that so many companies often try to diversify their products and services to capture revenue from new sources.  Instead of being distracted by new ventures which deplete your resources and invite new competition, strengthen your core services and ensure you maintain your competitive edge.

Focusing on your core customers is equally important.  Reaching out to a wider customer segment is important for growth – but it can take time. For a near-term (and ongoing solution) reach out to your existing customers.  Provide them incentives to use your services or purchase your products again.  Use email marketing, direct mail and/or telemarketing to communicate your offer and bring your customers back.  

In addition, provide you customers an incentive to refer you to their friends.  Word-of-mouth marketing is the one of the most credible marketing tools and providing your customers a reason to talk about you to their friends will certainly help drive sales.

To weather the economic storm follow these steps to solidify your core business and strengthen your customer relationships thus allowing you to market smarter.

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Are People Talking About Your Company?

Everyone is familiar with the power of word of mouth.  In fact there is an organization dedicated to it – WOMMA.  There are companies like BzzAgent harnessing and trying to spur word of mouth for their clients.  And with blogging, people can voice their opinions faster and more loudly than ever.

 

While the opinions you find in blogs are an opinion of one, monitoring blogs regularly might help you identify trends that you can take advantage of when positive or market against when negative. 

 

Think about Mentos and Diet Coke, who would have thought a soda volcano would have boosted the sales, awareness and interest in a candy.  Had you been tracking the web, you might have.

Even if you can afford research, keeping an eye on blogs will keep you closer to your audience.

 

Here are some blog search engines that you might find helpful:

 

www.blogsearchengine.com

http://www.blogsearch.google.com

www.technorati.com

www.blogpulse.com

http://www.icerocket.com


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