I recently read an interesting article in Fortune magazine about the most prestigious Italian sports car maker Ferrari. Here’s a little taste:
“Put a Ferrari in the dark,” says Marco Mattiacci, president and CEO of Ferrari North America, “and just by touching the car, you will recognize it as a Ferrari.”… The company does no mainstream marketing whatsoever — no billboards, no ad campaigns. It relies on word of mouth, special events, and a growing social-media presence.
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Suggestion #1: Word of mouth marketing is the most effective kind of marketing. (Just ask Ferrari.)
Suggestion #2: Shrink to grow. The shrink to grow philosophy doesn’t limit you; it focuses you. The real key to cultivating effective word of mouth marketing is selecting just a few simple, effective things to do and then doing those things consistently.
The shrink to grow is about consistently applying a common sense process for listening to, working with and tending to the needs of customers. Because the best promoter of your business is your customer. If you take care of that person, if you delight or fascinate that person, he’ll walk right out of the door and sell for you.
Suggestion #3: Effective word of mouth marketing generally stems from something authentic.