Archives for the ‘Entrepreneurship’ Category

Word-of-Mouth Marketing FAILS – Successful Entrepreneur Laments (mp3)

You can download my interview with Frank Gillham (it’s just 6 mins.) here:

Just after completing my third webinar on my new Book Publishing Workshop last week, Frank Gillham called.

Frank is founder/CEO of Funding Architects in Tyler, Texas. Known as “capital campaign strategists,” his firm works with non-profits on their capital campaigns.

His pitch is simple:

While leaders of non-profits (churches, for instance) are skilled at their particular mission, it’s rare if that same leader is capable to raise the funds necessary to support the cause. Given that most capital campaigns occur (at most) every 5-7 years, there’s little opportunity to develop any fundraising expertise.

The cool thing about Frank is that he’s not some young pup. Frank is 80-years old. He’s even got a 10-year plan! And no, he’s not retiring any time soon.

But his phone call to me was about his greatest regrets: Relying on Word-of-Mouth Marketing.

What’s wrong with Word-of-Mouth Marketing?

I’ve always said that if you’re going to rely upon Word-of-Mouth Marketing as your main source of leads, you better have a lot of mouths talking you up. It’s a numbers game.

But Frank’s complaint about Word-of-Mouth Marketing had nothing to do with it being a numbers game. No, Frank’s issue is that Word-of-Mouth Marketing isn’t strategic. By definition you can only get more of the same customers you already have.

That really struck me as some very wise advice. I thought about it over the weekend, and then called him Monday to have him repeat it so I could record it and share it with you.

It’s just 6 minutes. Well worth a listen. Feel free to forward.

Download and listen here:

I look forward to your comments.