Did you know that 92% of consumers trust word of mouth referrals? When the world is buzzing with marketing strategies, what personal recommendations can do is magnanimous. It builds trust, value and genuine responses. Isn’t that what business professionals long for?
The personal touch in an individual’s choice helps in easy and quick decision making. If your business depends on building relationships and trust, then word of mouth marketing becomes one of the best forms of business networking. Here are some more points to consider.
More Qualified Referrals
Statistics say that friends’ recommendations are 2x as important as other sources. Getting solutions or information relevant to you from a trusted source brings in more qualified referrals.
Quality that Solves Problems
Businesses solve problems for end-users. With the help of WOM referrals, entrepreneurs get quality solutions from their circle. It can expand their business further and generate a good return on investment.
Whom would you talk to when you need help? Trusted people with similar interests, who can give you before they think of what they can get in return. They are the ones who value your thoughts and vice versa. In networking, people who care to give readily are highly persuasive.
Quick Brand Awareness
Numbers show 80% of satisfied customers would refer your product to others. Word of mouth marketing in business networking sometimes works better than social media for quick brand awareness. Prepare well and present your product or service in your network so that your brand name becomes the talk of the town. Involving people who have already experienced your business would be a big plus.
Connection with like-minded people.
It’s the energy that exists between people when they feel seen, heard and valued (An explanation by Brene Brown). When you value a relationship, you delve into it deeper. Constant interaction makes your connections strong, and businesses start churning out profit more meaningfully. At BNI, building relationships forms the crux that bolsters business and lives.