3 Tips for More Word-of-Mouth Referrals
Getting more referrals starts with a solid understanding of how word-of-mouth (“WoM”) referrals happen. In short, someone unrelated to your business puts his or her reputation on the line for your business. It’s incredible when it happens, and small businesses rated these referrals as the most desired source of new business.
If these people are putting their reputation on the line for your business, don’t you owe it to yourself to make it super easy for them to do? Here are three tips for how you can maximize your WoM potential:
Tip #1: Broaden your “mouths”
Referrals come from people who know you and your business well. The list doesn’t need to stop with just your customers. In fact, it’s likely your best next customer is right now talking with another local business owner two doors down. Have you gone out of your way to meet them? Have you introduced yourself and your business? Invite a nearby business owner to stop by for coffee and get to know them while sharing what you and your business are all about.
Tip #2: Give your “mouths” some “words” worth talking about
Your competitive advantage stems from your expertise and the personal experience you give to others. Sharing your knowledge or unique events you are hosting is a great way to stimulate getting your “mouths” talking about you. These “words” you share are needed to complete your WoM potential.
An efficient way to share your words is through social media. Offer something of value and people will start talking. For example, an insurance agent joined Alignable, the small business network, and introduced himself to his local business community by sharing a valuable piece of advice:
“If you have your employees deliver products using their personal vehicles, be sure to ask your insurance agent if your policy covers them while they make the delivery—it’s an often missed insurance addendum.”
He got a great response from other business owners in town thanking him for his advice. Providing valuable “words” is a great way to not only give others something to talk about, but also to position yourself as someone to turn to for advice.
Tip #3: Share to be shared
Getting WoM for your business is almost as great as giving it to others. As you spend time getting to know other business owners nearby, be sure to ask them about what’s special about their businesses and start sharing it with others you’re interacting with. When you go out of your way to put your reputation on the line for other local business owners, you just might find a lot of other business owners stopping by to say thanks, learn what you do, and do the same for you.
It’s the small business owners’ circle of life.
