Word of mouth marketing spending to increase by 14.5% in next 2 years

Word of mouth marketing is not new, it has always been existing. Internet marketing focused on ad spaces, SEO, social media and other forms of direct and indirect marketing, but now word of mouth is making some serious inroads. WOMM budget is growing rapidly since the last 3 years and it will continue to be on top of every marketing firm's Internet marketing agenda. Spending money to make your customers your marketers is smart marketing. It is inexpensive compared to most of the other marketing tactics, but its real rewards are far beyond getting customers for your business.

  1. WOM marketing and keeping customers is the best way to secure your business. If you have customers, and your customers are so happy with you that they give your referrals, offline and online word of mouth, then you are doing something right. You can sleep well, and you will not worry about getting new customers all the time since you know you already have returning customers.
  2. WOM not only secures you, but it makes customers feel more secure about your business. Think about it, won't a customer think good about your business if you are proactive in asking your customers about their experiences? This itself goes a long way in establishing trust for your business and place you in the top half of companies doing business.
Considering the amount of customers businesses lose just because of ignoring customers, it is safe to say that word of mouth is definitely the marketing channel no business can ignore. The rise of womm budgets is just a  indicator of things to come. 

Source: Forbes and related websites. Article written by engineer from keepcustomer.com

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