Creating a Formula for Word-of-Mouth Marketing with Everfave

This app uses the power of word-of-mouth to drive customer growth.

Creating a Formula for Word-of-Mouth Marketing with Everfave

Ever since reading Malcolm Gladwell's Tipping Point, I've been fascinated with word-of-mouth marketing and understanding some of the levers that can help create epidemics and virility for truly great products & services.

If I've learned anything, it's that there is a very small, almost imperceptible difference between the products that launch into superstardom vs those that go unnoticed in the world.

It's the little things, like having the right people support your product & share it with their networks at just the right time, that differentiate the winners from the not-so-successful.

That's why, when I discovered Everfave, I needed to learn more. Their mobile app & social platform is helping businesses directly connect with, activate, and incentivize those social influencers that are so key to creating viral product epidemics. Not only that, they're giving businesses the tools they need to calculate a true ROI on word-of-mouth marketing.

Today, I had the opportunity to interview Everfave's CEO, Rahul Mewawalla. We got to chat about everything from how Everfave is disrupting the way retailers traditionally go about getting new customers, to how beneficial their word-of-mouth marketing platform has been so far, and much more.

You can learn more about Everfave through a few awesome videos they put together on their YouTube Channel.

Now, here's my interview with Rahul Mewawalla of Everfave.

Ryan: Can you tell me a bit about Everfave, and what the company helps it's customers do?

Rahul: "Everfave is a mobile and social based customer growth platform for physical businesses and brands. We were recently ranked amongst the Top 10 most viewed U.S. startups and won the Silicon Valley Entrepreneurs Award.

We're based in Silicon Valley and backed by institutional investors that supported Facebook, YouTube, Square, Dropbox, and Paypal. Something I'm incredibly proud of, is our award-winning team that comes from companies like Yahoo, Nokia, Yelp, NBC Universal, Google, Facebook and other technology leaders."

Ryan: With all of the startups competing to make shopping a more social & shareable experience for brands & retailers, how is Everfave bringing something unique to the table?

Rahul: "Everfave's platform enables consumers to discover and share their 'favorite' products, services, and brands with friends, and earn exciting rewards from their favorite places."

"Say Jennifer walks into her favorite brick-and-mortar business and see signage that says, "Give $10 off to your friends, and get $10 for every friend that shops."  She pulls out her phone, takes a picture of what she’s about to buy or her favorite products, add a note, decide how to share, whether its Facebook, Twitter, Instagram, Email or Text and she shares with her friends."

"Now say her friend, Dave sees her message on his mobile, he pulls it up, he can see what his friend bought, why his friend loves that product, which of his other friends have been to that retailer recently and what products they've favorited as well.

He can see where the closest store is and even pull up driving directions to that location. Dave goes to that store, makes a purchase, and when he is checking out shows his phone to the associate, who either scans or tap the reward on his phone, gives him $10 off, and then, Jennifer who originally referred him, gets a notification on her phone saying, "Thanks so much for referring Dave who just came in, here's $10 off when you come back the next time!"

"Businesses, brands, and retailers set the rewards, so you can have a dollar amount off, a percentage off, a free item, perhaps a free glass of wine or a free appetizer, or you make a charitable contribution. Consumers get to share and discover each others favorites, and can also easily browse each others ‘favorites’ lists on Everfave."

"In turn, and where I think the real value lies in our platform for businesses, Everfave enables businesses to convert their physical customers to their digital evangelists and now actually measure the resultant increase in customer base and sales."

"What's unique about Everfave is that brick-and-mortar businesses can now, in real-time, without any hardware or integration, see their entire customer cycle i.e. how many of their customers are referring their products and services to their friends, which exact products and services are most 'favorited,' how are they referring (via Facebook, Twitter, Instagram, Email, Text, or other) and to how many friends."

"Not only that, Everfave’s platform also provides detailed insights into how many of your customers’ friends are actively interested (for e.g., browsing products, pictures, and seeing which of their other friends have also favorited that place or product), how many of these friends physically walked into your business, how many made a purchase, how much they spent, and the resultant increase in customers and sales. We're showing a true ROI to each business using Everfave.”

Ryan: What motivated you to lead Everfave and how'd you identify the market opportunity you're going after?

Rahul: "Physical businesses represent 90% of global commerce. These brick and mortar businesses, ranging from small local businesses to national brands and franchises, are vital and enriching to our communities and lives on a daily basis. Imagine your life without your favorite coffee shop, gym, restaurant, dentist, or department store."

"Retail businesses support 1 in every 4 jobs in the U.S. alone, constitute over 30M+ businesses in the U.S., and drive trillions of dollars in economic impact. We at Everfave are proud and humbled to provide these great businesses with a mobile and social customer growth platform, that historically only large technology companies like Amazon, Uber, and AirBnB had available."

"According to Nielsen, 92% of consumers say that word-of-mouth and referrals is the most effective form to convert people into patrons."

Ryan: How is Everfave trying to bring word-of-mouth recommendations into a more seamless digital experience?

Rahul: "Businesses have found that word-of-mouth and referrals have been the most effective way to grow their customer base, but they haven't quite adapted to the major shifts in technology over recent years. Millions of businesses in the U.S. still use handout cards, flyers, and other paper-based approaches to drive word-of-mouth marketing."

"However, most consumers don't carry paper as much anymore, but the majority of consumers carry around their smartphones everywhere they go. Everfave now enables consumers to share their favorite places and products with their friends using mobile phones. They earn rewards, and in turn, businesses can amplify word-of-mouth marketing through a more seamless digital experience - and do so automatically without needing complex hardware, integration, or undue effort on their part."

"Everfave helps businesses gain new customers easily. Businesses on Everfave are getting tens of thousands of referrals per location each month, and are experiencing a significant, measurable increase in sales through our mobile and social platform."

Ryan: How can small business owners with very small budgets and even less time, begin leveraging tools like Everfave effectively?

Rahul: "Businesses spend a lot of effort and money to acquire customers, and then strive to satisfy these customers. Every one of these happy customers knows 10 or more potential customers, usually within their close group of friends."

"It's critical for businesses to make the most of this untapped opportunity to increase their influence with consumers that are already pre-qualified to be interested in their business. We give businesses the tools to get customers to bring in their friends, in a more seamless fashion."

Businesses can quickly launch on Everfave by visiting our Business Page and checking out the videos on our YouTube Channel. It only takes 10 minutes to get set up, and you can expect to start seeing results quickly."