Tapping the Power of Word of Mouth

Tapping the Power of Word of Mouth

1) Give 'em something to talk about. Just having a satisfied customer and giving them service that is simply good enough will not get anyone talking. You've got to go above and beyond the call of duty if you want your customers to talk about you.

Word of mouth is instrumental in driving your company's success. Verbal buzz about your business or product passed from one reliable person to the next is still the most cost-effective way to build a loyal following, expand your business, and reach new customers. How does it start? Give them an amazing customer experience and encourage your customers to think of themselves as partners in your business. The organization chart at your business should show the customer at the top.

How your customers feel about you and what they are prepared to tell others about you can influence your revenues and profits. According to a Nielsen report, there's exciting growth in consumer attitudes toward word-of-mouth recommendations. The study found that fully 92 percent of consumers around the world now say they trust word of mouth or recommendations from friends and family above all other forms of advertising.

2) The power is yours! When you have a service that people feel enthusiastic about, they spread the word about their customer experience. This holds true especially for Metro Bank. They are a retail bank operating in the United Kingdom founded by Vernon Hill, with the aim of creating a revolution in British banking through Wow customer service. They started July 29, 2010 with 4 stores and 60 employees. They now have more than 359,000 accounts, $4.8 billion in assets, 1,500 employees, and 27 stores. They spend no money on advertising. They depend 100 percent on word of mouth.

Metro Bank pioneered industry-changing conveniences. "Our Customers are empowered to bank however it is most convenient for them," says Hill. Metro Bank differentiates itself from other financial institutions by offering premier conveniences, products and services:

  • Open 7 days
  • Open early, open late
  • Totally free checking
  • Instant-issue Visa debit card
  • Free customer coin counting
  • 24/7 live customer service
  • Free online banking and bill pay

In his book "Fans Not Customers," Hill writes that your competitive edge comes down to service. The better it is the more likely your customers are to become fans and promoters of the enterprise - and to create yet more fans.

Hill notes that fans are customers who embrace your model and culture, become part of your community, and convert their friends to new customers of your brand. He says, "We want evangelists for our brand. We want brand ambassadors who spread the word about us, people who are passionate about us as a company because we've exceeded their expectations at every contact and opportunity. Every person who works for our company passionately believes in not just doing an okay job, but doing the best possible job they can and creating the best customer experience they can."

In April 2013, Hill received the Free Enterprise Award from the Institute of Economic Affairs, which cited him as "a remarkable entrepreneur who has identified a clear opportunity." Previous winners include Margaret Thatcher and Richard Branson.

3) Put customers first. An organization that puts its customers first empowers everyone who comes in contact with them. Empowerment is a crucial concept in business. Empowerment means giving employees the authority to make fast decisions on the spot. It means bending and breaking rules to take care of a client to their satisfaction, not just the organization's.

In my book, Achieving Excellence Through Customer Service, I wrote: "An organization must know its customers' level of expectations for these reasons: Do less than customers expect and service is bad. Do exactly what customers expect and service is good. But do more than customers anticipate, and service is perceived as superior."

Being fearlessly committed, like Vernon Hill at Metro Bank, will get people talking about you and telling their friends and family about their amazing experience. Every person in your company and every customer you greet will spread the word about your company. The same as they have done for Disney, Starbucks, Amazon, GE, and... Metro Bank.

Word of mouth is a powerful tool! Put your customers first and deliver above and beyond what was promised. Surprise customers with your awesomeness and they will spread the word.

John Tschohl is founder and president of the Service Quality Institute in Minneapolis. Described by USA Today, Time, and Entrepreneur as a "customer service guru," he has written several books on customer service, including his new program "Handling Irate Customers and Difficult Situations," and has developed more than 25 customer-service training programs distributed worldwide. His strategic newsletter is available online. Contact him at quality@servicequality.com or (952) 884-3311.

Published: August 13th, 2014

Share this Feature

Comments:

comments powered by Disqus
ADVERTISE
SPONSORED CONTENT

Franchisor Topics »

Premium Services

Michael H. Seid & Associates Business Opportunity

Michael H. Seid & Associates
MSA provides domestic and international franchise advisory services to...

TSheets Business Opportunity

TSheets
TSheets is the #1 employee rated and requested time tracking software on...

Tango Business Opportunity

Tango
Tango unites predictive analytics, GIS and store development into a single...

Management 2000 Business Opportunity

Management 2000
Management 2000 serving Franchisors since 1981. Our expertise: Granting...

IMN Business Opportunity

IMN
IMN creates engaging and relevant lifestyle, entertainment, and industry...

919 Marketing Business Opportunity

919 Marketing
919 Marketing Co. is a national content marketing, PR and social media...

SOCi Business Opportunity

SOCi
SOCi is a leading, next-generation SaaS solution for social media...

Best Franchisee of the World Business Opportunity

Best Franchisee of the World
Best Franchisee of the World will focus on the Franchisees, entrepreneurs...


Franchise Update Magazine

A targeted, quarterly magazine that takes CEO's, VPs and Sales Executives to the cutting edge of franchise development.

Subscribe to Franchise Update Sales Report

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)