Beyond Word-of-Mouth: 6 Reasons to Diversify Your Marketing Strategy

Monday, February 5, 2024

Over the past few months, I have had the pleasure of interviewing various builders, from veteran builders to new builders in the industry. From this variety, I have noticed a trend in marketing, many builders rely on word-of-mouth (WOM) as their primary and for some their only marketing source. WOM marketing is an organic marketing approach, where information is spread from a satisfied customer who talks positively about their experiences. While this is a great way to build your business you cannot completely and solely depend on this as your only marketing stream.

Marketing Strategies

Here are some reasons why you should do more than WOM marketing:

1. Limited Reach: WOM marketing relies on customers voluntarily sharing their experiences. This can limit the reach, especially if the business is new or not well-known. By incorporating other marketing channels, a business can extend its reach to a wider audience.

2. Measurable Results: Many traditional and digital marketing channels offer tools to measure and analyze campaign performance. This data-driven approach allows businesses to assess the effectiveness of their marketing efforts and make data-backed decisions. This approach also helps businesses determine their cost per lead which helps when creating your marketing budget.

3. Targeted Advertising: Other marketing channels, such as online advertising and social media marketing, enable businesses to target specific demographics and audiences. This targeted approach can be crucial for reaching potential customers who may not be reached through WOM alone.

4. Adaptability: Marketing landscapes change, and consumer behavior evolves. Having a diverse marketing strategy allows a business to adapt to these changes and stay relevant. Relying solely on word-of-mouth might make a business vulnerable to shifts in consumer preferences or market trends.

5. Control and Consistency: With other marketing methods, businesses have more control over the messaging and presentation of their products or services. Word-of-mouth marketing is organic and can be less predictable. Combining it with other strategies allows for a more consistent and controlled brand image.

6. Brand Awareness: Consistent and diversified marketing efforts contribute to increased brand awareness. While WOM can build awareness organically, actively promoting a brand through various channels ensures that more people are exposed to it.

While WOM marketing is valuable, diversifying your marketing efforts through various channels provides a more comprehensive and adaptable approach to promoting your business. Some low-cost approaches to adding variety to your marketing mix include utilizing email marketing, creating social media posts and ad campaigns, sponsoring local youth organizations, and participating in regional builder association events. In addition, we offer an advertising reimbursement program and many other vendors and partners offer similar co-op programs saving you additional costs in your marketing budget.

If you have any questions on how to better modify and strategize your marketing program please feel free to give me a call at 608-756-2989 x104 or email me at gi********@am*********.com.