Sounds about crazy right? Well, it’s true. Typically in any grown organization, the sales team is about 10% of the total employee strength.
Literally, what is a sales team? Anyone who brings business to the company is part of a sales team.
It can be an employee, a consultant, a partner or your customer. Over 90% of your customer acquisition cost is saved when someone else does the marketing and sales by influence customer to purchase the product. In turn, that cost-benefit can be extended to consumers that actually use the product. This influence is nothing but sharing the experience. It is said that over 85% of the customers share their experiences with others about a product they use or have used it in the past.
In simple words, WORD OF MOUTH still works. So, how did we figure that it actually worked for CallHippo? We made calls to our customers in all 5 continents asking 2 simple questions. Are you satisfied using CallHippo? And would you refer CallHippo to others? Surprisingly, it turns out that 95% of our customers said ‘YES’. To put it into perspective, it is said that, 1 unsatisfied customer takes away 10 potential customers and 1 satisfied customer influences 10 potential customers. This potentially means 950 prospects and 95 more customers.
Look at this way, when you hire some to sell. You have invested at least 1 month to train on system and processes i.e. about 160 hours. On the other hand, your customer who has been using the product knows it all and knows the product better than the sales guy. It’s like a gut feeling or muscle memory. Customers are natural salespeople. Therefore, why not invest and respect your customer than hiring a new sales nerd.
Now, you must be thinking- how can you invest in customer to do your sales? Since your customer acquisition cost is saved to an extent. Why not offer incentives and discounts to your real heroes. I know it sounds very bookish and vague. Isn’t it?
Well, it’s not. The thumb rule, take care of your customers and they will take care of you. How-
- Always be available when they need you
- Incentivize your customer for their efforts
- Keep the cost as low as possible and offer a discount to long term customers
- Keep the product simple and precise to use
Here comes an entrepreneur question- What examples can you give to prove that WORD OF MOUTH works better than other customer acquisition channels and also show some real figures? Well, you tell us about 1 company out of the top 20 companies in the world that have grown without word of mouth publicity. We promise to give you a FREE standard phone number for 1 year. Rest, you are the best judge.
At CallHippo, we live by customer commitments and do every small thing for big customers and every big thing for every small customer.
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