SThe importance of online reviews has been on the rise, creating a burst of reputation management companies. Inuit, Sales Force, and other companies have joined the race to buy online marketing and reputation management companies. This rise is powered by users searching billions of queries on search engines like Google, Bing, and Yahoo daily. Statistics say that 97% of consumers go online to research business and services, their purchase decisions are based on what they find. Almost every business needs presence online and every business needs positive reviews online to get more customers. Keeping customers loyal is also a top priority in this economy; placing mechanisms to retain customers is paramount. Most of the small to medium sized businesses do not have mechanisms to leverage power of customer retention and the tools currently available are very expensive. In the end, no business wants to lose business/customers because of the way they are presented on the Internet. Our application will help every business owner to engage their customers to get feedback and promote them on online search engines and directories.
WordOfMouthz.com is a word of mouth marketing technology solution for every business type and individuals.
Word of mouth is the oldest form of marketing and is now the most influential factor in purchasing decisions online. (Google now ranks sites, which have good reviews higher in the search results) From a content writer, to individuals, to shops; everything is reviewed by customers, and viewed by customers who search and purchase online. People are spending more time with their phones, computers, tablets etc… More word of mouth is now present on these channels than ever before. Our technology is the first of its kind, which will help every business online and offline to connect with customers and drive reviews online with a simple to use automated system.
Word of mouth is the most sustainable form of business because it not only gets new customers for the business, but it also creates returning customers in the process of gathering feedback. Part of the technology is to resolve customer issues and concerns by redirecting negative feedback directly to the business.
Some of the existing problems in the industry
- More companies are providing reputation management. (Almost all companies that used to do SEO, now do this and numbers are growing)
- Lower price offerings from competitors as more and more companies enter this arena.
- Business owners want their reputation healthy on most, if not all, review sites.
- Most businesses in marketing space cancel their services because they can’t measure the effect of the services they are paying for. Most of the businesses are promised first page rank or higher sales, which rarely happens, causing them to cancel and try other companies.
- Fake customer reviews are now a 3-4 year old phenomena. Search engines are getting smarter and new solutions are needed.
- Technology needs to be created and updated constantly to better engage customers and marketers.
- Most businesses fail to keep customers because they forget about the customers. Our technology will ensure they start communicating easily.
Solution: Review Management Tool
WordofMouthz is a cloud based review management software that helps businesses build more reviews online. It will allow them to address negative sentiments and improve their business. In the process, our software generates a website for their business, does email marketing for them, allows them to send offers to customers, and builds SEO presence among other benefits. We will offer a monthly subscription for use of this cloud software. Here are some of the important functions of the software:
- Offers custom website layout for businesses.
- Easily solicits customers to write reviews on popular Sites.
- Gives easy interface for customers to write reviews.
- Sends negative feedback back to the business to create a better ecosystem for businesses and consumers.
- Builds brand name for businesses.
- Easy integration with existing Survey techniques. Product can be sold as add on to email marketing services.
- Customizable review pages that businesses can paste into their site.
- Mobile marketing capabilities built into system.
- User lists management and rewarding users for their actions.
- Offers tools to engage customers, not just monitor.
- Advanced statistics and notifications on reviews.
- Muti-location dashboard administration.
- App with multiple benefits for administrator and customer.
In addition the features mentioned above, we have about 50-100 features which we are currently working on. Once completed, we will offer a complete social media platform that can perform all tasks a company can need regarding reviews and social media.
WOMZ Screen Shots
Many competitors have realized that having technology to monitor, engage, and track customers is very important. That being said, like any industry, only few are able to get it right.
There are 2 companies who have recently taken a step forward in that direction but do not offer technology to the extent we are building.
Reviewpro.com and Reputation.com are our biggest competitors. Both provide monitoring systems and social sharing feature, but lack specific functionality to gather reviews, promote them online, and other features which make the marketing product integrated.
Here are some of the differentiators:
- They have not yet considered reaching customers’ mobile phones via text. (text is still #1 way to most efficiently reach customers)
- They have not used video reviews as a marketing tool. Video reviews are the future of online marketing, we will offer function to capture and publish video reviews instantly via phone apps.
- Both competitors do not use advanced domain techniques to create review sites on the fly, they instead offer generic dashboards to manage their data. The dashboard we offer are fully customizable and can be used as a website for the business.
- Technology isn’t tailored to specific industries; we will develop tools directed to various specific industries. (for e.g. restaurants need to approach this differently than say a plumbing business. Restaurants can use our app to send wait time to customer, and then send messages thanking customers and asking to respond to surveys. Such techniques can be very powerful and building applications which can cater to multiple industries is essential, our competition offers little flexibility when it comes to industry)
- There is no emphasis on using scannable QR cards to capture customer reviews at the venue.
- No messaging systems to communicate with their customers.
- No integrations with any of the existing search engines. (We can publish a simple API allowing other companies to use the tool to provide auxiliary service). WMOZ’s system can be easily adaptable to partnerships with search engines.
- Above all WOMZ is a holistic solution which easily puts a business online in 10 minutes and starts marketing the business instantly (entire sign up process from creating a website to sending first email or text takes about 10-15 minutes)
What WordofMouthz can do for Marketing Agencies
As a product, WordofMouthz will not only be useful for personal businesses but it will also be a valuable tool for 3rd party Marketing Agencies who represent such businesses. Here are some points on how this technology can be used by these agencies.
- Agencies can take more clients when using our system because it saves them time as most of the work is automated. It can save tons in payroll for every company.
- More sales opportunities since they can offer service to almost any company who have reviews anywhere on the web!
- Agencies will better retains their customers because we are providing a tangible tool that will measure their client’s progress.
- This automated tool is a long-term investment as there will always be online reviews, and hence the need for such a tracking/automated tool.
- Again, costumers will be retained as their WOMZ database will contain all reviews made by their customers which they will have access to posting on to their own site and other blogs/sites throughout the web.
Word of Mouth spending to increase 14.5% in the next 2 years. Source: http://keepcustomer.blogspot.com/2012/06/word-of-mouth-marketing-spending-to.html / PQ Media
Word of Mouth spending to reach $3 Billion by 2013. Source: http://www.marketingcharts.com/interactive/wom-spend-to-reach-3-billion-by-2013-10053/
“Small businesses typically get more than half of their customers through word of mouth” – Greg Sterling (Internet Influence Analyst) Source: http://www.nytimes.com/2009/07/23/business/smallbusiness/23twitter.html
About 63% of businesses do not have a website in California. 97% of consumers go online to do research on products and services. 1M searches on Google related to Email marketing tools. Source: http://www.businessnewsdaily.com/1973-google-places-adwords-small-business-tools.html
There are 27.9 millions small business in the US alone. Source: http://www.sba.gov/sites/default/files/FINAL%20FAQ%202012%20Sept%202012%20web.pdf
SalesForce recently aquired reputation monitoring platform, RADIAN 6 for $326M (WOMZ will go beyond monitoring, we will engage consumers) Source: http://techcrunch.com/2011/11/30/salesforce-debuts-the-new-radian6-powered-social-marketing-and-monitoring-cloud/
We will launch with a heavy online campaign, which will include:
- Adwords (impression and click marketing)
- Video marketing in Youtube.
- Online PR campaign.
- Trade shows and industry specific conferences.
- In-bound campaigns like San Diego SEO, info graphic marketing, email marketing. (putting wordofmouthz at work for wordofmouthz!!)
- Community site, which will focus on establishing best practices for word of mouth, educating consumers about the importance of wordofmouth and how it can improve business ecosystem in general.
Apart from our marketing campaign, we will drive traffic from several websites we have that rank for keywords related to Reputation Management and Marketing. We will also leverage our experience in keyword based inbound campaigns using a combination of keywords.
Partnering with SEO companies and reputation management companies by allowing them to use or technology is one of the biggest way of marketing this software. It would cost roughly 20-100k/a month for a company to build and maintain a system similar to WOMZ, assuming they can build cutting edge software. This is something not every SEO and marketing company can afford or want to spend on. Ultimately, everybody wants to sell their service and product with as much margin as possible. We are going to be a tool in their bundle.
We have already created momentum within the industry with several websites and blogs including keepcustomer.com, which already offers customer retention services. We rank for several key terms on Google. For e.g.
- Affordable online marketing
- Affordable internet marketing
- Local business word of mouth
- Customer retention company
- Google Local review and ratings
We rank in top 5 for all the above and more keywords. Creating a brand name is very important; we are already on our path to making Wordofmouthz a customer retention brand.
Word of mouth is the best-known marketing secret, and we are going to bring it to businesses and individuals who want to prosper online.