November 23, 2014

How to Buy Word of Mouth

[The topic of this week’s Memo is already a 30–60 minute PowerPoint that I’m ready to give at your next Chamber, Ad Club or PTA meeting. In addition to travel expenses, my fees are quite reasonable. I can also turn it into a presentation and workshop where every business owner will walk away with a WOM plan. -Dave]

BuyWordOfMouthBy Roy H. Williams

The price of making a powerful statement is cheap compared to the cost of ads that don’t work. So make a statement that counts. This is the best advice I can give you.

I’m not talking about making a grand and sweeping claim, such as, “Lowest prices anywhere. We won’t be undersold.” No one believes hype anymore. I’m talking about a statement that is bona fide, no loopholes, easy to experience. And it only takes one such statement to put a business over the top. This is why you should designate a percentage of your ad budget to purchase word-of-mouth advertising.

Word-of-mouth is credible because a person puts their reputation on the line every time they make a recommendation. And that person has nothing to gain but the appreciation of those who are listening. What are you doing to make sure your potential ambassadors feel secure? What are you doing to trigger word-of-mouth?

1. Word-of-mouth is triggered when… [Continue reading at WizardAcacemy]

El Juan Mágico Del Mago

JgtornoeI love Google’s Language tools. I typed in “The Wizard’s Magic Juan” and out came the headline for this post! It’s probably not proper Spanish, but neither are my posts always proper English, so live with it.

Juan Guillermo Tornoe is the Wizard’s Magic Juan. Directing research and media buying, Juan is also the head of our hispanic branch of the Wizard of Ads® group.  His depth of knowledge and understanding of this fast-growing consumer segment is astounding, and if you’ve every stopped by his blog, you’d understand why. He is reading and accumulating numbers and stories from every imaginable source. Out of generosity, you can read what he is reading on his blog.

I asked him recently (during a Skype session) why he isn’t publishing his own take on these stories rather than just aggregating them. His response was most interesting. I’ll include it here after one observation: Juan gave the attendees of the Wizard Academy Reunion a glimpse into his world with a 30-minute multi-media show that had us clamoring for more. I’m convinced that he is very likely the single most informed authority on the hispanic market in this hemisphere. (let’s see…since nearly all of the hispanics in the world live in this hemisphere, that would make Juan the world leader, but I don’t want to further inflate his ego.)

So, when I asked Juan to start posting his opinions and insights on his blog, he responded:

“I have been using it as a place to gather the stuff for my presentation… I want to promote my seminar and consulting, and begin writing a book… I use all the trends I’m spotting to develop content for these three and want to charge accordingly for it, so for now I don’t want to share MY MIND with everyone, just make them aware that I am following the most interesting articles and trends and that I am doing something with them… But they will have to pay me to find out!”

As I said, he gave us a glimpse into his mind several weeks ago and trust me when I tell you that he has valuable and actionable information about marketing to Hispanics in the U.S. He has recently posted a link to the description of his seminar. The chips and salsa were great and I can’t wait to see the whole enchilada! (I can’t believe I just wrote that.)

Take a look at what the Wizard’s Magic Juan has prepared for you!

Onya Craig! Blimey, I'd forgotten that one!

Dorsolateralthumb_1

Finally catching up on some blog reading this weekend and found some brilliant writing on Wizard Tower Chronicle, our upside-downunder site hosted by WOA Partner Craig Arthur.

It looked quite familiar, but I read it all the way through anyway. Here’s a super excerpt:

“The point is this…before anyone will do anything at all, they must go there. They must do that thing in their imagination. Before they buy your jewelry, they must go there in their mind. Before they buy your cars, they must go there. Before they attend your college, you must show them the experience on the visuospatial sketchpad in their brain.”

Bonzer Mate!

The sign said "Ladies"…I opened the door and there they were!

My Partner Michele has been throwing some parties for "women only" in Chicago. She’s put out a call for the next event over at her blog. If you’re a Chicago woman or know one (or you play one on TV), drop her a line.

Oh, to be a fly on the wall!

Link: WonderBranding: Marketing to Women: Next Gal Party in Chicago!.

Fishing for Chuck

Chuckskywebing It’s great having partners who write exceptional material on advertising and marketing. Chuck McKay has a great knack for telling it like it is. I know some marketing folks at some pretty big companies who would do well to take Chuck’s advice.

Scoot on over to his blog and you’ll see what I mean. You can also subscribe to his email list. He sends each thoughtfully produced article out as a newsletter.

From a recent post:

The big three automakers have each effectively admitted that after shaving $7,000, $8,000, even $9,000 off the price of their vehicles, they’re still profitable.

If you’ve purchased a new vehicle in the last few years, do you now feel as if you didn’t even get kissed?

Will you ever pay full price for a car again? Will anyone?

-Chuck McKay