{"id":37134,"date":"2024-06-25T12:53:02","date_gmt":"2024-06-25T16:53:02","guid":{"rendered":"https:\/\/referralrock.com\/blog\/?p=37134"},"modified":"2024-09-09T21:51:00","modified_gmt":"2024-09-10T01:51:00","slug":"b2b-word-of-mouth-marketing","status":"publish","type":"post","link":"https:\/\/referralrock.com\/blog\/b2b-word-of-mouth-marketing\/","title":{"rendered":"Best B2B Word of Mouth Marketing Strategies, Demystified"},"content":{"rendered":"\r\n

Traditionally, B2B has been dealt with the short end of the stick when it comes to generating sales, leads, and converting prospects to buyers.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n

Because of the larger associated costs, a B2B purchase is often considered an investment in the business, and the stakes are invariably higher. Nobody wants to make a purchase and find out three months down the line that they made a mistake.<\/p>\r\n\r\n\r\n\r\n

B2B buyers spend a lot of time researching options and rely heavily on the honest feedback of other users before making a purchase. This feedback, also known as \u2018word of mouth\u2019 referrals, is therefore a goldmine for marketers. As much as 91% of B2B buying decisions<\/a> are made under the influence of word of mouth.\u00a0<\/p>\r\n\r\n\r\n\r\n

In this article we take a closer look at B2B word of mouth marketing and how it can help you grow your B2B business. We then take a deep dive into keys and strategies for B2B word of mouth marketing<\/a> that you can leverage for strategic growth.\u00a0<\/p>\r\n\r\n\r\n\r\n

What is B2B word-of-mouth marketing?<\/h2>\r\n\r\n\r\n\r\n

Traditionally, B2B word-of-mouth marketing takes place when your customers who use your product or service, talk about it positively to others \u2013 whether that\u2019s in person or online.<\/p>\r\n\r\n\r\n\r\n

When it comes to the online space, word-of-mouth comes in the form of reviews, social media shares, as well as reviews from friends, associates, or other users.\u00a0<\/p>\r\n\r\n\r\n\r\n

At the outset, word-of-mouth can appear unpredictable, unlike traditional one-sided (company-to-customer) marketing. However, there are ways to encourage word-of-mouth recommendations (or, at the most basic level, ask for reviews<\/a> and referrals) while limiting your risks. We\u2019ll cover this in more detail later in this article.\u00a0<\/p>\r\n\r\n\r\n\r\n

Benefits of B2B word of mouth<\/h2>\r\n\r\n\r\n\r\n

So, exactly how does word of mouth marketing benefit B2B companies?<\/p>\r\n\r\n\r\n\r\n

Cost-effective form of marketing <\/strong>\u2014 Unlike other forms of marketing, which can involve high ad spends as well as some amount of risk in terms of payoff, word-of-mouth marketing is considered relatively inexpensive. In fact, you can even set up word-of-mouth marketing with little to no spend at all. Asking for online reviews, referrals, or testimonials won\u2019t cost your business a dime!\u00a0<\/p>\r\n\r\n\r\n\r\n

Generates trust and credibility<\/strong> \u2014 A B2B purchase typically involves a long sales cycle, during which potential customers carry out in-depth research before making purchasing decisions. Word of mouth recommendations help cement trust and credibility with the net effect of having your prospects choose you over your competitors.\u00a0<\/p>\r\n\r\n\r\n\r\n

Lowers the risk factor associated with the purchase<\/strong> \u2014 B2B purchases tend to be viewed as risky investments due to their higher costs. Positive word of mouth can make your product or service a less risky proposition overall, compared to products for which there are scant reviews.\u00a0\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n

Peer recommendations appear more credible<\/strong> \u2014 We know that 92% of people<\/a> trust word-of-mouth referrals from people they know over all other forms of advertising. At the end of the day, decision-makers typically purchase a product because people they know or trust are satisfied clients. Companies can appear profit-driven, whereas peers who have a similar psychographic profile, are, like them, looking for the best choice.\u00a0<\/p>\r\n\r\n\r\n\r\n\r\n\r\n

Compounding benefits<\/strong> \u2014 The good news is that your word-of-mouth marketing doesn\u2019t end with the one happy customer. You can continue to leverage word of mouth so you\u2019re essentially compounding your marketing efforts, again with little to no spending on your part. Each customer will keep referring to the next, and so on, extending your brand\u2019s influence to a much wider prospect pool.<\/p>\r\n\r\n\r\n\r\n

Higher-quality leads and customers <\/strong>\u2014 Customers brought in via word-of-mouth tend to be more loyal and of a higher quality. In fact, marketers rate the quality of leads brought in by word of mouth a solid 4.28 out of 5<\/a>. The reason is simple \u2014 when referred by other satisfied customers, your new clients are already coming in with positive experiences. They don\u2019t need as much convincing, and they\u2019re less likely to regret their choice.<\/p>\r\n\r\n\r\n\r\n

Keys to B2B word-of-mouth marketing<\/strong><\/h2>\r\n\r\n\r\n\r\n

Before taking a deep dive into effective strategies for B2B word of mouth marketing, it’s important to lay the groundwork for a solid foundation:\u00a0<\/p>\r\n\r\n\r\n\r\n

Deliver an outstanding product and stellar customer service<\/strong><\/h3>\r\n\r\n\r\n\r\n

Successful word-of-mouth marketing starts with a solid product proposition. It involves going beyond simply creating a product that solves a major problem. If there are already many other players in the market, find a way to distinguish yourself from the rest, which doesn\u2019t involve the rather simplistic solution of undercutting pricing. You may end up eating away into your margins while stretching your resources thin. Being a \u2018cheaper\u2019 product isn\u2019t what you\u2019re aiming to be.\u00a0<\/p>\r\n\r\n\r\n\r\n

Here are a few tips:<\/p>\r\n\r\n\r\n\r\n