Everyone agrees that “word of mouth” is the best advertising. Everyone knows the power in one person telling another about a service or a product. The problem is that casual referrals usually don’t create a phenomenally successful business. To generate a massive number of referrals, you need a phenomenal referral marketing system.
The second biggest marketing mistake small business owners make is what I call “chasing suspects.” We’ve all been there. We chase people we think might be good prospects for us, trying to convince them of that, and we spend a massive amount of time and energy chasing them and nothing ever comes from it. Of course the “the fortune is in the follow up,” but who you follow up with is very important. We should have a follow up system for those who are truly prospects. A suspect is someone who fits the demo- graphic. A prospect is someone who has actually asked for more information.
