A recent article from eMarketer discussed the modes of advertising that are most relevant to college students. Sixty-four percent of students surveyed said that word-of-mouth advertising is most useful, beating product samples (60%), TV ads (55%), and online ads (18%) for the highest ranking in the survey. Certainly word-of-mouth advertising has expanded along with the […]
Valuing Your Business Goodwill
Whenever a business is sold, there is an attempt to measure the goodwill associated with the business and the sales price will account for the transfer of business goodwill to the new owner. A business with a great community and customer reputation is worth much more than a business with a poor reputation. As a […]
Your Reputation and Word of Mouth
In his book, Guerrilla Marketing for Free, marketing guru Jay Conrad Levinson discusses the need to guard your small business reputation. Quoting him: “It’s darned tough to build a good reputation, but pretty easy to destroy it. You can spend years gaining it, but moments losing it. If one person has a bad experience with […]
Time Management & Word of Mouth Marketing
What kind of priority would you place on your business reputation? I would imagine that it would be pretty high for most business owners — certainly more important than checking the email, going through the daily mail, reading the news on the Web, or having lunch with a friend. Yet if you ask most small […]