How a business owner market their business has always been a strange attraction to me. I am always on the look-out for an idea that I can steal and implement in my business.
I admit I am flabbergasted when I find that the business owner is doing no marketing or advertising and their business continues to grow. Relying exclusively on word-of-mouth referrals, I am very envious.
While word of mouth is a great way to grow a business, I don’t think it should be the exclusive means of marketing for any business.
I know a financial advisor that for years grew his practice by referrals. When I asked him what happens when the referrals stop, he had no idea of a plan of action. Another client is a manufacturer, they have the same approach. It works till it no longer works.
Marketing should be a planned approach for growth with multiple means of bringing in business.