In today's world of business, word-of-mouth marketing can be most closely aligned with the popular business known today as influencer marketing. According to wikipedia.org, "influencer marketing is a form of marketing in which focus is placed on influential people rather than the target market as a whole on social media. It identifies the individuals who have influence over potential customers, and orients marketing activities around these influencers."
Unlike being an influencer marketer, starting a word-of-mouth marketing business is a way of establishing a more direct connection with just one company. With influencer marketing, you may not limit yourself to just one company; and you are not directly invested in the growth of any one company like a word-of-mouth marketer. As a word-of-mouth marketer, you will place emphasis on growing a team and collaborating with that team to grow your individual business. Influencer marketing is missing this team building component, something most people need in order to travel down the road of starting and successfully growing their own business. Influencer marketing isn't a suitable business venture for most people because most people thrive when they are part of a group.
With the world literally in the palm of your hands, it's never been easier to tell others about something you are excited about and are comfortable endorsing. The amazing opportunity that lays before all of us is getting paid for sharing products and services you already use and love. Most businesses today realize their marketing dollars are better spent on you rather than online ads or TV commercials. Why? Because you already have the trust, eyes, and ears of their potential customers. If you are willing to tell your network about these companies, they will happily pay you for what sales your endorsement generates. Companies are more than willing to pay for you "influence" amongst your network. The more you are, the more likely you'll not only make money, but enough money every month to transform sharing into a full-time job that feels nothing like a full-time job.
So, what's the difference between traditional word-of-mouth marketing when you had to go door-to-door to share a product or service you are passionate about and what word-of-mouth marketing really is today? The only difference is that it's online and everyone is doing it every time they are an article, a post, a picture or a video. Every time you share something you are marketing to your network using word-of-mouth. You're just not getting paid for it - yet. At the end of the day, we are all word-of-mouth marketers. We just don't realize it.
If you're ready to start your own business and are inspired to leverage your daily activities on social media to generate additional income, here are the 3 key points to keep in mind. No matter what type of business you decide to start, with a clear understanding and application of these 3 key points, you give yourself a chance to achieve the dream of having your own business.
- Build a Network - Networking is a form of marketing. With today's social media platforms, networking has never been easier. Start by growing your network with connections that would be the most interested in the products or services you are going to promote, and you will have an audience of the right people most likely to buy from you.
- Build Relationships with Your Network - The more you engage with your network, the stronger your relationships will become with those in your network. It is important to strengthen the relationships you have with your connections because this will lead to trust in you and what you say. Ultimately, the more they trust you, the more likely they'll buy from you when you endorse products and services.
- Share With Your Network - When it comes to getting the most out of your network, consistency is the key ingredient. If you are sporadic with your sharing and inconsistent with what you're saying, you will see your network grow and little to no sales when you promote products and services. No matter how daunting it might seem, find a way to keep your network engaged with you and your business by sharing something with them on a regular basis. Remember, the more you share the more you earn.
Nowadays, word-of-mouth marketing is something to be excited about because it could translate into additional income easily. For anyone willing to accept compensation for simply sharing their positive experience with a product or service they love, there is a great opportunity to start their own business today.
Believe it or not, you already spend an average of 2 hours and 22 minutes every day sharing on social media. If you are willing to share something of value with your social network, and companies are willing to pay you for helping those in your network discover their products and services, why not see it as a ticket to creating the life of your dreams? If you ask me, this sounds like a win-win for you and companies who are desperate to find ways to tap into your network. Remember, you already talk about these companies every day. You're just not getting paid for it - yet!