One of the bigger challenges in a small business’ early days is attracting attention. If marketing and advertising budgets are small — or nonexistent — the business is at an immediate disadvantage.
Yet there is power in word of mouth, both in old-fashioned ways of people spreading the good news about a new business and more modern methods of sharing opinions online and through social media.
A study by Alignable, as reported by Entrepreneur, shows the importance of word of mouth. The survey asked “What’s the best way to acquire local customers?” The overwhelming answer — with 85 percent of the 7,500 small business owners surveyed — was word-of-mouth referrals. The other answers (Google/Facebook ads, radio ads, newspaper ads and direct mail) pale in comparison.