Sluggish Economy Spurs Word-of-Mouth Marketing

Word of mouth has long been recognized as the most cost-effective form of marketing a business can use," said BNI founder and CEO Dr. Ivan Misner, author of the New York Times bestseller Masters of Networking." While you cannot control the economy or your competition, you can most definitely control your response to the economy. Creativity in marketing your business has become a basic tenet for todays successful company or professional practice."

(PRWEB) May 19, 2003 -- With the economy continuing to lag, business owners looking to boost their numbers are turning to a tried and true form of marketing -- word-of-mouth.
More and more professionals are flocking to networking groups, and among the most successful is BNI (Business Network Intl.).

BNI is the worlds largest referral organization with a presence in 14 countries that includes 2,500 chapters -- more than 80 in the Greater Los Angeles area alone, where BNI was founded in 1985.

Word of mouth has long been recognized as the most cost-effective form of marketing a business can use," said BNI founder and CEO Dr. Ivan Misner, author of the New York Times bestseller Masters of Networking." While you cannot control the economy or your competition, you can most definitely control your response to the economy. Creativity in marketing your business has become a basic tenet for todays successful company or professional practice."

The key to successful word-of-mouth marketing is a structured program, Misner said. BNI provides a structure and a system. Each BNI chapter has about 20 to 30 members, and each member is from a different profession. The chapter meets weekly with each member speaking about his or her business for a minute, and one member giving a more detailed presentation. Members are encouraged to bring referrals for someone else in the group, and leaders are trained and use a manual to run the chapters.

In a tough economy, it's your social capital that has value," Misner said. Businesses need to get creative and add to their traditional marketing efforts. Developing their networking skills and learning how to build their business through word-of-mouth can be their saving grace."

BNI is headquartered in San Dimas, Calif., and has chapters in 14 countries. Since its inception, members have referred almost $1 billion worth of business to other members. For more information about BNI, visit www.bni.com.
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If you would like to schedule an interview with Dr. Misner, who is also on the business faculty of Cal Poly University, Pomona, or find out about specific chapters in your area, call Michael Drew at 714.540.0331.