PROFIT : There are two distinct options when generating word of mouth, referrals and viral loops. You can create the product first and then generate the talk about it. Or, you can design the product so it spreads the conversation for you.
The classic example of fuelling the conversation after the product has been created is personal branding. Your reputation is what people say when you’re not there. It’s an example of word of mouth that you may want to pay careful attention to.
Some products can tinkered with and redesigned as you continually generate talk. For instance, your website. A website’s design is never done!
Traditionally we think of referrals as one person recommending another. And, they can be a cornerstone of your lead-generating system.
They can also be a vital element to a successful business model eliminating advertising costs.
For example, Landmark Education have built sharing into the conversation of their training courses. With no advertising, they rely on participants to personally refer their courses to friends and colleagues. And it works! They are one of the most successful training organizations on the planet.
Action : Make it easier for people to talk about you. And, turn your one-off referrals into a repeatable lead-generation system.