With the economy still sputtering, now is the time to build your army of fans and start some momentum for when the things turn around. While everyone is focused on pulling back and waiting out the storm, you’ve got a huge opportunity to go out and earn a bunch of new talkers.
What to remember:
- WOM works regardless of the economy. In boom or bust, people will continue to tell their friends about fantastic products and experiences.
- Leadership’s focus is on cost-effectiveness. While your executives are focused on cutting expenses, now is the perfect time to sell them on the inexpensive, effective, and fun word-of-mouth stuff you’ve always wanted to try.
- Free advertising will always beat someone who’s paying for it. If you can get really good at word of mouth now, while everything is down, you’ll be unstoppable once the economy picks up again and your customer acquisition costs are a fraction of that of your competitors.