OYO Founder Shares Insights On The Power of Word-of-Mouth Marketing
In a recent interview, OYO’s founder Ritesh Agarwal discussed the journey of the popular hospitality chain and highlighted the impact of word-of-mouth marketing in India. He recalled that their first patron from Gurgaon, Yadav Ji, was initially skeptical of OYO. However, after a few months, he was enthusiastically promoting “YOYO” to his friends. This word-of-mouth marketing played a crucial role in OYO’s success in India in 2013/14.
According to Agarwal, word-of-mouth marketing is the most powerful channel in India, surpassing the impact of any advertising spending. He described how the name “YOYO” became associated with OYO due to its ease of pronunciation, and it eventually became a widely recognized brand in India.
In a video shared by Agarwal on Twitter, he emphasized the rapid spread of a good story through word of mouth in India. He also discussed how the association of “YOYO” with the OYO brand significantly contributed to the growth of the business.
The OYO founder’s insights resonated with netizens, with many acknowledging the unparalleled influence and impact of word-of-mouth marketing.
Ritesh Agarwal’s entrepreneurial journey began with the launch of OYO Rooms in 2013, following his earlier venture, Oravel Stays, in 2011. Despite facing controversies along the way, OYO achieved tremendous success, leading to Agarwal’s induction as the latest shark on Shark Tank India, a popular business reality show.
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