Learning how to use word-of-mouth marketing is a massive benefit that far too many sales professionals are missing.
As one of the largest influencers to get customers to try a coworking space, it could make or break your niche business. Remember, 74% of consumers suggest word-of-mouth advertising is one of the key influences in their purchasing and booking decisions.
As a business owner, one of the best things for your business is to bring in more potential customers and offer a positive experience to create happy customers. This is where word-of-mouth marketing comes into play, as it allows you to attract like-minded customers into your business that you're sure to impress.
When consumers have a good experience with your flex space, they become happy customers, and happy customers are more likely to share their experiences with others.
With this marketing strategy, you'll be able to build brand loyalty and trust while establishing brand awareness. In fact, 83% of surveyed marketers believe word-of-mouth advertising helps increase brand awareness.
Not only will members continue returning to your coworking space for more positive experiences. They'll also be more likely to share their experiences with others, whether in person or online.
- 88% of people trust personal recommendations over other recommendations
- 70% of consumers will believe other consumers’ opinions
- 73% of millennials believe it’s their job to help friends and family make purchases
- 73% of online shoppers suggest user-generated content helps boost their purchasing confidence
Of course, a word-of-mouth marketing strategy is a fantastic way to attract more customers. Let's explore some of the top benefits all marketers and brands can experience by adding them to their campaigns.
Word-of-mouth marketing campaigns are some of the most effective and inexpensive marketing campaigns businesses can use.
For many large flex space businesses, marketing campaigns can span into the millions, a budget that small spaces simply do not have.
Word-of-mouth is a phenomenal alternative that is even more effective than standard advertisements, as we'll explore in detail below. You'll establish brand loyalty, trust, and more, all for free!
Did you know that a word-of-mouth recommendation can work better than standard marketing materials?
According to a study, word-of-mouth marketing can bring in up to five times more sales than paid media advertising.
A massive contributor to this, influencer marketing, has proven to be 11x stronger than standard banner advertisements.
It's a far better alternative than sending email newsletters that may or may not make it into your customers' inboxes. You'll find it's far more reliable than SMS marketing, which could end up putting your advertising number in the blocked numbers list.
Not to mention the sheer benefits that personal recommendations have on the buying process. If it combines with affiliate marketing, that will be a huge benefit.
The tools for affiliate marketing make easier to target an audience that knows you, and in addition to that who doesn’t know you. So, that way you can get both in single targeting.
Brand loyalty and trust are the main things any coworking brand needs to build a community.
When you're using customer experiences as your main form of marketing, you're using trustworthy data to encourage others to see what you offer.
Any pros and cons about your business won't be delivered from the business but from genuine customers who authentically love what you offer.
Implementing a strong social media strategy can transform your brand trust into a significant online following. From there, hundreds of customers will gather on your pages to interact with your brand and follow your journey.
You'll also be able to communicate more effectively with your audience, showcasing your products and services, leading to even more sales.
With a good idea of the power of word-of-mouth marketing on consumers, it's time to learn how to put it to good use. These foolproof tips are fantastic for small and large coworking businesses alike.
Like meeting someone for the first time, the impression you leave matters the most. This theory also applies to coworking spaces, so you'll want to make sure your clients’ first experiences are everything they've dreamt of and more.
It is a phenomenal way to encourage people to rave about what your coworking spaces, especially compared to other businesses in the same niche.
There are numerous ways to give your customer base an exceptional first experience with your brand, such as offering well-designed workspaces, cutting-edge self-service technology, tasty snacks, access to top-quality office tools, and more. Give them a one-on-one experience, ensuring an associate is there to guide them along the way.
You can even consider sending a personalized note with every coworking space booking, thanking them for investing in small businesses. The more you go out of your way to make customers feel special, the better your customer feedback will be.
It's far too often that companies think they're untouchable because they've established solid customer acquisition and a loyal fanbase.
This leads to them designing lackluster workspaces that give users a negative experience. It can destroy customer trust and drag your brand through the mud as a coworking space.
Workspace quality is the most important thing customers look for when looking for shared office space. They want to ensure their money goes into quality spaces that will set the right impression with their team and clients.
Also, you need to ensure your coworking rooms outperform your competitors, offering the best experience in your niche.
The better your services are, the fewer customer complaints and negative reviews you'll have. People will also be far more likely to offer customer referrals if they trust your coworking spots will work well for their friends and family.
UX (User Experience) is a must-have for coworking brands looking to influence their customers' booking decisions. The best way to understand the importance of UX is to think of yourself as a consumer.
Would you want to spend time trying to get through a hard-to-navigate website with a challenging booking process? Likely not, as you'll think the time you're putting into reserving a space isn't worth it.
As such, focus on the experiences your customers have when they're browsing your site. Try to avoid frustration, make available rooms easy to find and reserve, and make the booking process effortless and quick.
The two most common reasons customers abandon booking process are poor shopping processes and too little coworking space information. As such, give your consumers everything they need to lead themselves through your sales funnel.
It's your responsibility to ensure your business creates satisfied customers that leave plenty of positive online reviews and social media posts.
That said, it's also important your brand goes above and beyond for your customers, ensuring you do a little more than necessary in certain instances.
Not only will going above and beyond help you build social proof for your social media marketing. It can also bring in massive customer reviews and personal recommendations.
Take this Trader Joe's location in Wayne, PA, for example.
Their team sent a week's worth of groceries to an elderly man who was trapped in his home during a snowstorm.
Not only did the company cover all of the costs for this grocery purchase, but they also made a delivery which isn't a regularly offered service from the store.
The company harnessed one of the most powerful forms of marketing by taking an extra step to turn a bad situation into something good. They were also able to help a citizen in need, which surely helped them create traditional advertising materials and social media posts to raise awareness.
When you're diving into any online community, one of the best ways to make an impact is to partner with an influencer in the niche.
Influencers are known to have large followings of customers that are likely to reserve rooms and form opinions based on the influencer's recommendations. As such, looking into popular personalities as a form of advertising will be a helpful option for your brand.
By partnering with influencers, they can share their experience at your coworking establishment with friends, helping sway the decision of their followers. Through their social posts, they can build a sense of community while directing customers straight to a booking link where they can make a quick reservation.
You can even have influencers encourage their followers to sign up for your loyalty programs, offering long-term benefits to your new consumers.
Knowing how to use word-of-mouth marketing to your advantage gives you a powerful sales tactic in your arsenal.
By harnessing the power of honest reviews and positive reviews, you can ensure your brand is being shared in conversations with customers. The best part is that it's a free way to spread brand awareness and build brand loyalty.
Did you know that according to research, 74% of consumers say word-of-mouth recommendations make them more likely to make a purchase?
The digital version of word-of-mouth marketing is clearly social sharing.
Your Instagram, Twitter, and other social media profiles are filled with troves of referrals and interactions that can influence purchasing decisions. Everything from customer comments to post likes can encourage a customer to make a purchase or not.
Word-of-mouth marketing is often referred to as the most popular channel for sharing information. It can also be seen as the best form of marketing, as it's effective and low-cost.
72% of consumers get news from friends and family, speaking to the influence it can have on others.
The article was written by Uday Tank. Usay is an astute business enthusiast with more than eight years of experience helping businesses reach their full potential. He is the owner of Rankwisely, providing invaluable support & services for businesses to leverage SEO, content marketing, keyword research, and Link Building to 25x their marketing ROI.