Top Tips to Leverage Word of Mouth Marketing

Let’s take it old school for this blog post. I’m talking the original craft of marketing. For example, let’s take Coca-Cola in 1888, a true staple in branding and marketing in the business world. Asa Candler, the business mogul behind Coca-Cola, created an incredible marketing initiative giving away coupons for free Coca-Cola to consumers. He then gave free barrels of Coca-Cola syrup to stores reluctant to stock this drink. As customers with coupons flocked to those stores, store owners rapidly returned as paying customers. And thus, one of the most influential brands in the world set foot on the path towards its purpose. By incentivising both store owners and customers to talk about Coca-Cola, Candler was able to produce buzz and build his brand. The cool thing about WOMM is that its contemporary efforts to create experiences worthy of being passed from person-to-person has evolved incredibly. In this article we’ll be examining some tips and tricks for you to leverage WOMM effectively in your business!

Focus on Quality over Quantity

Over the past few years, marketers have focused on gathering a following base on various social media outlets, however this doesn’t really help. Connecting with your followers is incredibly important as opposed to gathering and increasing your following base. Having 100 really passionate fans that live, breath and vouch for your brand is more effective than 10,000 fans who signed up for a contest of sort. Now, how do you ensure that you’re properly connecting with your followers? Engage, Equip and Empower!

– Engage: Be a part of the conversation. Listen to what your customers have to say about your product/service and understand where they are coming from.
– Equip: Give your customers various reasons to talk about your brand. This includes your value proposition, services, competitive advantages, etc. Different customers can be triggered by different topics of conversation, so play on that to understand what they want and where they’re coming from.
– Empower: Let your consumers speak on various platforms. Some people are more comfortable DM’ing you, some feel more comfortable commenting on a post, or some feel more comfortable calling you. Give your customers the power of speech!

Leverage Technology

Technology has improved social connectivity creating for an easier consumer experience to do your marketing for you. Take a simple post for example. This post, if it resonates with your following base, will be shared across multiple platforms to friends, friends of friends and so on. Hundreds of people will see their trusted friends vouching for a post and brand. Fueling conversations and driving passion will make a huge difference for your brand, especially when taking technology into consideration.

Focus on Reactive Word of Mouth

A friend of yours is going on a trip to New York City for the first time and asks you what restaurants he should check out! You being a food connoisseur start suggesting a few of your favourite restaurants. That’s an example of reactive WOMM. When you refer to someone, you are reacting to the situation. These forms of WOMM work very well as they are a part of the discussion. Keeping on top of mind sharing relevant information with your following is incredibly important for reactive WOMM to transpire.

Focus on Proactive Word of Mouth

Now, working off of the same example above where you and your friends are simply talking and you randomly mention how you recently visited NYC and checked out all these amazing restaurants, that’s an example of proactive WOMM. You’re not waiting for the conversation to come up, you were simply so amazed by the good restaurants in NYC that you had to tell your friends about it. Proactive WOMM is by far the most superior type because it necessitates your customer to be so captivated with your product or service that they are obliged to find a way to bring it up in discussion, even if it’s not on topic. Telling a story when asked is one thing. Telling a story without being asked is something else entirely. It requires more conviction and more passion. To make sure the WOMM is proactive as much as possible, you need to make certain that your Talk Trigger is truly distinguished. You have to do something diverse, that your customers do not expect, and then find desirable.

People are 90% more likely to trust and buy from a brand recommended by a friend. Although the demographic of people is smaller than your overall following, it is the sect of followers that you should focus on. Converting your followers to actual brand advocates will help you grow your ROI incredibly.

8 Questions to Ask Regarding Marketing Automation

Scaling is hard. Marketers have so much going on from email marketing to social media management and other website requirements. These to-do lists for scaling deem to be an incredibly difficult task. That’s where marketing automation comes in. If done properly, marketing automation can facilitate the lives of marketers and business owners. The difficulty arises when you need to make sure it is properly done. Why does everything have to be so difficult? Winston Churchill said it best, “a pessimist sees the difficulty in every opportunity: an optimist sees the opportunity in every difficulty.” Marketing automation isn’t easy but nurturing your leads in an efficient way will produce actual paying customers.

To make your lives easier, we’ve put together a list of 8 questions you have to ask when implementing Marketing Automation for your company.

  1.     When should I start implementing a marketing automation strategy?

When a company grows, it becomes more difficult to speak to every individual lead at each section throughout the customer journey. Not only that, but it becomes more difficult to track every conversation with your potential leads and record proper follow-up steps after each conversation. You have the option of  hiring a few new sales and marketing professionals, however this can be expensive and inefficient. When you find that manually managing your lead relationships is at stake, marketing automation should be your go to!

  1.     What are some features I should look for when looking into marketing automation tools?

Marketing automation is more than just managing email campaigns- it’s a life saver! Marketing automation helps you automate everything from drip campaigns, auto responding to leads, lead tracking and scoring, CRM integration, social media integration, marketing asset management and more! The bigger your company is, the more features you’ll need. So choose your marketing automation tool properly.

  1.     Can both marketing and sales team use it?

Marketing and sales are directly related! So both marketing and sales teams can and should be using the marketing automation tool. When looking for marketing automation tools make sure that you can add enough users for your needs.

  1.     How is marketing automation different from CRM?

Marketing Automation is all encompassing. Automation tools are mainly designed for marketers so they can see where sales are coming from and what marketing campaigns to focus on in order to drive more leads. CRMs are more tailored towards when leads are actually generating and passing them along the sales funnel.

  1.     Can I automate social media outreach?

Social media is a lot in today’s day and age, everyone is connected. It’s a great way to show off your brand and even generate new leads. Automation can help you target the right demographic with an easier and more effective strategy . The underlying question that you have to ask yourself here is can you reach out to more people and the right people using your automation tool? If the answer is yes, then kill it!

  1.     How does lead nurturing play into this?

Not everyone converts into sale right away, so making sure that your marketing automation strategy is able to nurture your leads is incredibly important. Lead nurturing has many actives that are incredibly hard to accomplish manually when you have many leads. The tools you should be looking for should not only help acquire new users, but also help nurture and retain potential leads and clients.

  1.     How important is price when choosing a marketing automation tool?

Budgeting is important. You don’t want to overspend, but you also don’t want to penny pinch when it comes to marketing automation tools…and they’re not usually cheap. Saving at first might cost you more in the long run. Marketing automation is an investment that will help your company grow.

  1.     What sort of data and analytics should I expect from my marketing automation tool?

Without numbers and metrics, marketing automation can be thrown in the trash. Making sure your automation tool gives you the right data and analytics is incredibly important with the right integrations. These analytics will allow you to make the right business decisions in real time to get the most out of your tool.

Every business has different needs and expectations from a marketing automation tool. It’s a long and difficult process, however once set up, it’ll make your business run at full efficiency allowing for business growth and scale. Efficiency and organization? Sign me up!

3 Reasons Why You Should Outsource Digital Marketing

In today’s digital landscape, growing your business online is not the simplest of tasks. What makes it even more difficult is trying to balance multiple sides of your business at once. When making the decision of having your marketing done in-house or outsourcing, one fundamental question comes to mind: which option will give me the biggest bang for my buck?

Ultimately, the choice between outsourcing or hiring a marketing team depends entirely on your business, operations, and processes. Before making the leap and internally hiring an expensive team of marketers, take a look at this list of the top reasons why companies should  choose to outsource their digital marketing to a professional marketing agency.

#1 Cost:

Hiring employees is expensive. This especially comes into play with digital marketing—where you need to trust that the hired entity is a certified “expert.” Employees are typically good at one specific digital marketing service, but finding an employee that is proficient in all digital marketing services is a task in itself. On average, agencies are 20% of the cost of assembling an entire marketing team. This saves money, times, and improves reliability.

#2 Efficiency:

Efficiency in digital marketing is a key asset of long term digital success. Wasted money on lackluster campaigns and improper handling of marketing duties is one of the leading causes of a failed growth in online presence and the ultimate downfall of long-term sustainability of marketing endeavours. Digital marketing agencies have one job—be efficient. The final goal of any digital marketing agency is to increase their clients sales, growth, or other relevant KPI’s. They also need to keep up with your standards or risk being dumped for a better performing agency.

#3 Technology:

The technology around marketing has and still is changing rapidly. Digital marketing agencies tend to use the latest technologies that can turn even the worst marketing campaigns positive. When it comes to growing your business digitally, you simply cannot afford to utilize leading technological platforms. They undoubtedly improve performance, cost-effectiveness, and growth as a whole.

 

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Grey background with text stating "Calculate your ROI on digital marketing"

Quantifying Your Digital Marketing ROI

Digital Marketing needs some clarity. $1,000 for SEO, a 15% management fee for PPC and Social Media Marketing and then $5,000 for a functional website…Sorry, what? For what? English please.

Pricing is one topic in Digital Marketing that has always been questioned. There are various ways in which agencies can price, either offering a higher value or lower price. However, how can you know what real ‘value’ they’re offering? The answer? Follow the money! Will I get more value going with the cheaper agency? Or more expensive agency? What is the true ROI that’s surrounding this project? Does your agency know how to calculate ROI? This will all be answered in this blog!

The first question you should be asking your agency is if they know how to calculate ROI, pause… if within 3 minutes they can’t explain exactly how they are planning on calculating ROI, dump them. For you to understand what a good ROI is relative to industry standards, you have to know what industry standards are. Lucky for you, they’re right below. If you were to invest $1 into the following services, on average, you would see on the following returns:

Email Marketing –$6.75
SEO – $2.75
PPC- $2.25
SMM – $1.30

How do you actually calculate ROI?

Expected ROI = (Sales Value/Offered Cost)

If for example, you hypothesize an email campaign will generate 20 orders at $100/ product and this part of your digital marketing campaign will cost you a total of $250, your ROI would be ($2,000/250) or 8X. Looking back at the industry averages, an email marketing campaign should yield $6.75 for every $1 invested or 6.75X. As a result, you’re getting 1.25X more value than the industry average.

That’s great, but how do you calculate the sales value when the campaign hasn’t even started yet? Well that’s more intuitive and really depends on multiple variables, that’s why no good agency can tell you. If they do promise something, run… The Sales value can depend on:

Quality and competitiveness of the product.
How competitive the industry is altogether
How accurately conversions can be tracked.
The sophistication of the industry is as a whole

 

Just because an agency can’t tell you the specific ROI to expect, doesn’t mean they shouldn’t have a goal in place. It’s the agencies job is to make sure they analyze the variables and provide you with a ranged ROI so  there is a common goal.

Now, when choosing an agency, it doesn’t matter who’s offering the cheaper or more expensive price, it’s about picking the right agency that knows your goals and knows how to achieve them.