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Word of mouth
Thu, Jun 10, 2021
A business plan competition I helped run in 2015 showcased a massive modern marketing problem.
One of the questions in the application was, “How will you acquire new customers?”
46 out of the 50 odd responses had ‘word of mouth’ as the #1 answer along with some acquisition plans.
In my online response to all applicants, I asked, “How many times in the last 12 months have you spread awareness about any brand via ‘word of mouth’ to others?
Almost 40 said ‘1–2’; half a dozen chose ‘3–5’; and the rest clicked ‘5–10’.
If, on average, we share a brand with our friends just 4–5 times a year, what chance does our brand have to figure in that ‘famous five’ list?
Either our friends must really like us, or we must have a really killer brand!
Is your acquisition strategy something you won’t do yourself?
How many times did you spread awareness about a brand via ‘word of mouth’ last year? Click here to share.