Forget word-of-mouth, even word-of-mouse. Think 'buzz' - creating enthusiasm for a product or service without spending too much: viz, Viagra. You might think that an impotence cure would buzz away unaided. However, says McKinsey consultant Renee Dye, the subject of impotence was taboo. Instead, the Viagra buzz was built by popularising 'erectile dysfunction'. Dye recommends ploys such as rationing supply (only 2,000 VW Beetles in reflex yellow), exploiting vanguard buyers (placing 'Hard Candy' nail polish in exclusive boutiques), and riding on the back of cultural icons. Thus, Four Weddings and a Funeral, which quoted WH Auden, helped sell 50,000 copies of a swiftly produced anthology. One major catch is that your would-be buzzer must be highly visible. More demanding still: it has to be unique.
You spend enough time doing it, but have you ever thought about how you do...
How to make sure top talent swipes right on your business.
Case study: Rentokil’s smart mouse traps use real-time surveillance, transforming the company’s service offer.
But too often businesses stigmatise it.
"It's more important to make the decision right than make the right decision."