The success of the New Vanderlyn was gratifying no matter how Martin looked at it: revenues were up, vacancies were practically unheard of, guests paid their compliments to the manager and then repeated their praises to cousins and neighbors in Philadelphia and Boston. - Martin Dressler: The Tale of An American Dreamer
That's a Pulitzer Prize winning description of WOM, word-of-mouth, and its benefits for customers, the cousins and neighbors of those customers, and the businesses who make it their goal to generate an inspiring experience for their customers.
And here's a list of possible translations of this passage and these WOM-phrases that can be used in presentations to business leaders considering a word-of-mouth strategy.
* Revenues were up...
- positive cash-flows are generated
- consistent revenue growth
- expansion can be financed from these growing internal cash-flows
- Debt-free balance sheet
- Additional cash generated from reduced or eliminated interest expense.
* Vacancies were practically unheard of...
- production's at full capacity
- optimized asset utilization
- increasing return on assets
- demand exceeds supply
- premium prices are justified
- customers are willing to pay premium prices
- premium experiences, services, can be delivered and done so profitably
* Guests paid their compliments to the manager and then repeated their praises to cousins and neighbors in Philadelphia and Boston
- reduced marketing and advertising expenses resulting in higher, positive, cash-flows for the company
- employees inspired and motivated from the positive feedback
- lower employee turnover
- lower employee recruiting costs
- constantly improving talent pool
- improved ability to recruit A-Players
- new geographic markets penetrated at no additional costs
- accelerating demand
- premium prices sustainable
- sustainable business model
My sense is that the power of word-of-mouth, as a sustainable, cash-flow, positive business model is not being translated into a language the owners and executives of businesses speak. I hope this list helps.
Link to original post