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  • Writer's pictureDavid Miller

Word-of-Mouth Marketing - an excerpt from David Miller's new book, The Entrepreneurial Algorithm

The better way. The only way.

The intent of all advertising is to create awareness and word-of-mouth. It may result in a product or service being purchased, but the best advertising creates a buzz. This “buzz” lasts far longer than the talk around a single purchase.

So why not make this your goal and strategize for this outcome?

“...the unsolicited testimonial of the satisfied customer.” ~ Sol Price

Sharing what we know is in our DNA. It has always been essential for our survival. It’s the origin of all storytelling. How important is storytelling? Look at the magnitude of the entertainment industry —

books, magazines, blogs, podcasts, television programming and, of course, movies. Even the news is often presented as a story and if it’s well crafted, our attention is dialed in and we’re ready to listen.

Word-of-mouth marketing is something we all do naturally and spontaneously when presented with the opportunity. We have been doing it since the beginning of time. When our primitive ancestors discovered an abundant hunting location or fishing hole, the tribe member eagerly went back to the village to share the details. Depending on the current food and water supply, it could have made them a hero. It was their opportunity to share what they had discovered for the good of all. The more enthusiastic and precise they were in describing their findings, the more likely the others would be able to capitalize on this good fortune.

In the modern world, the ‘hunt’ takes on a different reality.

Visualize the hallway of your high school. Time travel back to those linoleum floored corridors bordered by rows of narrow, metal lockers on either side, and the clumping of teenagers scattered about. Now see a group of high-spirited adolescents assembling around their current leader - the influencer. They have some new and exciting information categorized in the ‘need to know’ department. Their followers are ready and waiting to receive, and transmit. There is a new member of the student body - and they are attractive, smart, apparently, and very athletic. The Trifecta. Word-of-mouth ensures that everyone knows about the new student before the end of the first period.

Today, access to various communication tools and social media platforms create unique social circles. Friendly connections cast a broad net over several areas in one’s life and intersect at pivotal points. As an example, a group of friends from grade school, stay in touch through social media. Each individual belongs to a variety of different specific interest groups. An individual in the original group shares an idea and, if it is tantalizing enough, it rapidly spreads to individuals they have no direct connection with. Imagine the networking opportunities! Drop in a juicy tip and watch it spread from one group to another. Imagine, if you were to tell two people a hot tip and within a minute, they told two more and each of those people told two more, and so on and so on; in just over 34 minutes everyone on the planet would know your secret.

Even in today’s digital world, word-of-mouth marketing is still the better way and arguably the only way.

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