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DarrenDaily On-Demand

AMA: The Golden Unicorn vs. Word of Mouth

DarrenDaily On-Demand

Darren Hardy LLC

Careers, Entrepreneurship, Business

4.91.8K Ratings

🗓️ 21 April 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

Did you know that statistically speaking, 65% of all new business comes from referrals and word of mouth? In today's episode, Darren answers a listener question from Glenn Williams, who asked, "What are your best strategies for word of mouth marketing, and how have they served you building up your various companies?"

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Transcript

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0:00.0

Welcome to Darin Daily On Demand, your most trusted resource to help you become better

0:06.6

every day.

0:07.6

Here's your success mentor, Darin Hardy.

0:10.3

Good morning.

0:14.3

Today I'm going to take one of your submitted questions and attempt to provide you with

0:18.1

some hard earned wisdom.

0:20.8

This one comes from Glenn Williams, who asked, what are your best strategies for word

0:24.4

of mouth marketing and how have they served you building up your various companies?

0:28.3

Okay.

0:29.3

It's a good question, Glenn, because whether you know it or not, statistically, 65% of

0:32.7

all new business comes from referrals and word of mouth.

0:36.3

But it is the most neglected and underattended area of most businesses.

0:40.8

Tons of time, money and meetings are spent on lead generation, traffic conversion, Facebook

0:45.7

and Google advertising, search engine optimization, direct mail and other forms of advertising.

0:51.1

Yet it is proven that consumers rely on word of mouth up to 10 times more than paid media.

0:56.1

And it delivers three times the result.

0:58.5

Yet, it gets less than 10% of the resources, effort and creative attention by organizations

1:03.7

and their leaders.

1:05.1

Y'all see in the problem here?

1:06.6

And heads up.

1:07.6

Word of mouth is critical in these days where people have learned to tune out most marketing

1:11.6

and advertising.

...

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