How-To: Looking at BtoB Word of Mouth
5 Tips from The Phelon Group's Steven Nicks
Word of mouth (WOM) is not just for BtoC companies, says Steven Nicks, founding partner of The Phelon Group. "The CIO who buys your seven-figure software package also buys a home computer, car or other consumer goods," he says.
Tip #1. Consider structured vs. unstructured WOM
BtoB companies are more familiar with structured WOM like customer reference programs or analyst relations. With structured WOM, you significantly influence who says what, when.
Tip #2. Embrace unstructured WOM
There may be BtoC companies and BtoB companies, but the buyers are the same. They use the same set of skills -- peer networks, online research, etc. -- to make the purchases.
Tip #3. Maximize the effects of unstructured WOM
If you have something of value to offer, there are people out there saying good things about you in an unstructured way. Watch and learn who your proactive promoters are, reach out to them, and develop a strong relationship.
Tip 4: Plan ahead for negative WOM
Have a plan in place to react when someone says something negative about your company or products -- and make sure it addresses the problem at its source, not the negative comment. Most big examples of negative buzz are more about a company's failure to react well than the original problem.
Tip #5. Offer real value and build real relationships
You can offer real value and find mutually beneficial opportunities for your customers to speak about you. Avoid asking your customers to help out "as a favor" and don't try to bribe them with points or rewards. After all, Steven reminds us, relationships are not about transactions. They are about building trust and helping each other succeed.
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