Spreading the word about a new business or project can be quite difficult in the world of FinTech and Bitcoin. Traditional marketing, such as spreading the news on social media and getting articles published by media outlets will only do so much. The best way to let the world know about a new venture is through word of mouth, even though it is an often underutilised marketing tool.
Word of Mouth Is Crucial For Marketing
Despite what many people in the business world might want you to believe, digital and online marketing are not the most valuable tools to reach a bigger audience. Spreading the word about something new in person will lead to much greater success, rather than sitting behind a computer or mobile device to communicate with others.
That being said, establishing a digital and online presence is valuable in the long run, especially when people from all over the world are trying to get in touch with you or one of the representatives. However, word of mouth remains the most effective means to captivate an audience, like talking to someone in person about their project or product carries a lot more weight.
Considering how we are all human beings, making that human connection is something we subconsciously subconsciously. You can create a stellar product or service, but people will want to meet members of the team before making a decision. Something about human nature makes us want to communicate with other beings in an active manner.
Part of the reason for why word of mouth marketing is successful is because it’s one of the most trustworthy forms of review and feedback. Going to a hotel you have never been to, but a friend of yours has, makes the trip less stressful. Relying on internet information can be misleading although it is of high importance as well. In fact, editorials actually represent one of the least trustworthy forms of marketing.
Especially when it comes to making purchases, reviews and feedback from people in one’s inner circle are of incredible value. Opinions and input of others are influencing decisions we make on a daily basis, even if we don’t notice it. As a result, word of mouth generates twice the number of sales compared to paid advertising. This trend is noticeable across all major markets and segments.
Even though human nature is not too fond of drastic change, we are more eager to change certain ways of thinking or doing when people give feedback in person. For example a tv ad telling you how you can save on car insurance won’t do as much as your neighbor telling the same story.
Embrace The Human Connection In FinTech and Bitcoin
Despite FinTech and Bitcoin both being very technical industries where the human connection takes a backseat, it remains of the utmost importance to communicate with others in person. Losing touch with the human connection in our lives will only create an adverse effect, which should be avoided at all costs.
Explaining the technical side of things is something that should be done in person to begin with. When it comes to innovation disruptive, seeing is believing for most consumers, and what better way to show them than by employing the power of word of mouth? Walk them through the process, have a professional conversation, and you will reap the fruits from your labour.
How often are you influenced by word of mouth experiences and marketing? How would it translate to Bitcoin and FinTech? Let us know in the comments below!
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