Imagine waking up one day, checking your email, and finding 3 referrals in your inbox. Your first thought may be, “Woohoo! I guess I don’t have to go to that networking event next week!”
Before you get too excited, beware there are numerous dangers when building your business based on word of mouth advertising.
Honestly, I see way too many business owners giving up control of their businesses by solely relying on word of mouth adverrtising. What may seem like a blessing at first, can in fact–be a business curse!
Let me explain.
It’s one thing to have referrals be a part of your marketing strategy (key word here is strategy as in you’re actively taking actions that bring you more referrals), and relying solely on word of mouth and the “hoping I get business” this week method.
Here Are 3 Ways Relying On Word of Mouth Advertising May Be Taking Control From You:
- 1. When referrals suddenly appear, they may or may not fit your ideal client profile. If people are showing up on your virtual doorstep, and they are not a good fit for you, this means:
- a. you have to take time inviting them in, getting to know what they really need, and
- b. excuse them politely when they aren’t a good fit.
This entire process wastes your valuable time as a business owner.
- 2. You may feel obligated to work with the referral, because you don’t want to let the person down who sent the referral your way. This is a nice gesture, but if the referral is not a good fit, you are placing your control as a business owner into someone else’s hands.
- 3. For those business owners who build their businesses solely on referrals, at some point, the well of referrals will dry up. If things are going great for a couple of years, and water runs dry, you are faced with a major dilemma: You feel like you are starting your business all over again. You may have never even had to market your business before, and you are stuck, frustrated, and short on income. No beuno.
In the end, you must create a brand that speaks to your ideal clients and communicates your values. You must also know how to market your products and services.
And most importantly, you must have confidence and know that you can bring in the right clients day in and day out. It is perfectly fine to have a referral strategy in place, but don’t rely on word of mouth advertising as your sole source of income.
What do you think? Have you given up control in your business by relying on word of mouth to get clients?