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Value of word-of-mouth

Question
Is word-of-mouth advertising effective? 
Answer
Yes. Word-of-mouth advertising has long been recognized as the most cost-effective form of marketing a business can employ, and it's one of the best ways a business can bring in new clients or customers. However, it does take planning to achieve a worthwhile return for your time and energy.

Word-of-mouth referrals ultimately bring excellent business because referred customers are typically easier to close, have fewer objections, have a stronger sense of loyalty, remain a client longer and most importantly, have a higher sense of trust.

Relying on the advice of a mutual friend or acquaintance, the referral starts with a higher level of trust for you and your product or service. Getting as many people as possible to send such referrals your way every day is what building successful word-of-mouth business is all about. 
Brain Trust contributor: Dr. Ivan Misner is the Founder and Chairman of BNI and author of many books, including Truth or Delusion?and Masters of Success
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