Word-of-mouth is nothing new in the accounting game. In fact, it’s likely you already have clients on your books who’ve been referred to you through friends, family, or business contacts. But wouldn’t it be great to generate more of it? See how your firm can make the most out of word-of-mouth marketing.
What is word-of-mouth marketing?
In accounting, word-of-mouth referrals are one of the best ways to get business. However, the trouble with referrals is that you’re relying on people to start talking naturally, which is not a guarantee. Enter word-of-mouth marketing. Otherwise known as ‘WOMM’ or ‘WOM marketing’, word-of-mouth marketing is about encouraging satisfied customers to engage in positive conversations about your business using proactive tactics. In other words: it’s about making referrals happen.
How can WOMM help my business?
Because people view referrals from peers as being more credible than other forms of marketing, it can be a lot more effective than conventional advertising. According to Nielsen, 83% of people find recommendations from friends and family most reliable. Also, more than 66% say they trust other consumer opinions posted online.
Which WOMM strategies are for me?
To get those hot leads through your door, there are a few strategies you can try, but be sure your service it up to scratch! By focusing on client needs, people will only have good things to talk about. Once your service is spot-on, here’s what you need to do:
- Ask clients for referrals: Instead of just hoping, ask clients outright if they know anyone who would be interested in using your services. Casually slip it into the conversation in a calm and confident manner, and offer your business card for distribution.
- Find advocates: Your best clients can play a key role in generating new leads. Forge a tight bond with them by demonstrating you care and inviting them to social events. A little special treatment will increase your chances for referrals.
- Partner with non-competing businesses: A firm that doesn’t compete but complements your services might be interested in cross-promotion. This way, their clients and become yours and vice versa.
- Raise your profile: To make word-of-mouth happen, people need to know you exist. By attending networking events, or speaking at functions and conferences, you can form connections to your local and extended community.
- Go online: In an age when a lot of talking happens online, encourage existing clients to leave reviews online by adding a short prompt in your email signature.
It might be the oldest marketing tool around, but there’s a reason word-of-mouth marketing is still one of the most successful ways to attract new clients – and that’s because it works every time.