AgVoice | The need to structure word-of-mouth marketing...

2011, while the industry experienced a slow start there were corporate giants like Harsh Mariwala, chairman & managing director of consumer products major Marico Industries, who were for advertising spends with more balanced objectives without making it too huge. Mr Mariwala was also of the opinion that "competitive intensity is high and to protect market share you have to spend".

If this is what the big whales feel and do then surely a SME has more reasons to be clinched fists as they are growing to understand what ROI is.

While accounts keep moving for agencies; clients are also spending sleepless nights planning business generation. In such scenario every opportunity is seized to get numbers floating for the client whose worried about numbers and we are much worried as his numbers determine the spends on us.

Need of structured word-of-mouth in marketing was always felt and we keep mentioning that in our presentations. But less could achieve getting word-of-mouth structured. Today, organizations like BNI are running successful, structured word-of-mouth chapters past 27 year old where business and professional organisation allows only one person from each trade or profession to join a particular chapter. They chapter includes members from various industries who advocate and provide referrals to power teams.

BNI has over 138,000 members worldwide, in 48 different countries, from over 300 different types of profession thus opening avenues for global exchange of businesses. In 2011, BNI helped generate 6.9 million referrals which generated Rs. 15,500 crores (US$3.1 Billion) of business world-wide.

With statics like these SME are finding it imperative to become its member and benefit.

The debatable question is should we now open avenues for including word-of-mouth organizations like BNI in our clients Marketing Budgets and have clients spend effectively in presenting to their power teams or are we losing business generated through conventional mediums to organizations like these. | By Dimple Mehra, Founder, Lunchbox Services

About the writer:

Dimple Mehra, founded, Lunchbox Services in June 2011. The company that helps clients to launch products and services in existing and prospective markets, help upgrade their image and sales figures, network with companies that they can benefit from association; undertake CRM-based requirements and fulfill HR and management needs. Mehra, a brand enthusiasts and a firm believer in making a difference to the society around her. She loves challenges and picks up projects that are hungry for growth.

Disclaimer: The opinions expressed in this article are those of the author, and do not reflect in any way of Adgully.


News in the domain of Advertising, Marketing, Media and Business of Entertainment