Word of mouth for agencies
Word of mouth is the holy grail of marketing.
I define it as the unaided spread of your brand (by happy clients).
But this is not a message about doing the right thing with your clients.
You already know about this.
It's about the fact that by going vertical, you're tapping into an advantage that vertical agencies have that generalists just don't.
Verticals are unique because they're like small villages; word travels quickly.
As you grow within a vertical, your reputation and word of mouth will build for your brand. Eventually, it becomes a meaningful source of new revenue.
The successful vertical agency founders I interviewed on my podcast confirm that word of mouth drives 15-20% of new business.
That means if you bring on 200 new clients per year, you pay $0 to get up to 40 of them. Instead, they came in through referrals and recommendations from within the vertical.
That's powerful marketing.
Have a great day!