We are always asking where to spend limited dollars. Web banners are popular because of the lower cost than print advertising. Some of the best marketing tactics – are FREE!
Here are the facts – word of mouth (WOM) also known as personal recommendations is the # 1 marketing tactic. Some would say – this is why we need to fund golf outings. Great golf outings ensure customers will talk about us – true – but as a great business partner or as a great partier?
Something that is more likely to help your business is a strong social media strategy and customer referral program. Consider companies that enable their buyers to submit user reviews of their product (ebags, Amazon, ebay) or HP who utilized bloggers comments on their new Netbook to provide the comments on the product vs. their own marketing communications team. (Brilliant!)
There are many approach and strategies on utilizing social media to grow your business. The days of print advertising or golf events – are ending. Make sure you are planning ahead … and test / pilot and build for the future. When the recession lifts – you want to be in the lead of the new sales and marketing approach – not catching up!
A survey by the deloitte consumer product group showed that 62% of internet users read product reviews posted by other users, and 99% of those readers trust in the credibility of the reviewers! 80% of the people were influenced by the consumer-generated product reviews. with this in mind, are you following up with your customers to get product reviews posted on the internet? Are you sharing these reviews with your sales leads? Opportunity is knocking, loud and clear!
eMarketing has provided a detailed analysis on the various tactics and the percentage of “customer trust” by tactic.