And since we all know the reverse side of the 80/20 principle, that twenty percent of everything we do is likely to generate eighty percent of our profits, shouldn't that apply to word of mouth marketing too?

Here are three word of mouth tactics that will increase your profits be eighty percent.

Do there three things right and the results will follow. If you want to fill up your days by joining a word of mouth association, even a tips group, knock yourself out. None of those things will have much of a payoff for you but you can act like you're busy drumming up new business.

The first, and simplest tactic is to make it clear to everyone that you are interested in new business. I know that sounds silly since everyone is looking for new business. But think about how much effort you put into letting your clients know how successful and how busy doing stuff you are.

When you give people the impression you are too busy to call them right back, too successful to work on small deals, or so in-demand you can't be bothered to do a little pro bono work - you are transmitting the opposite of what you should be broadcasting. If you want new business that is.

Create a strategy that makes it clear to one and all that, while you are really successful, you are open to new business. In fact when something or someone comes along that interests you or someone that you can help, you will jump on the opportunity to do so.

Second, you must teach your clients - your entire fan club for that matter, about the full range of your services. I bet your clients really only know what you did for them. When they know all the services you provide they are much more likely to know people who can benefit by what you do.

Let's face it, most of your customers are buying from you because they like you. They are happy to tell their friends about you and do so whenever the opportunity arises. When they know the full scope of your services there will be exponentially more people for them to tell.

When it comes to implementing these first two tactics, consider a newsletter with examples of all that you do or a new web site like the one I saw recently.

A widely respected 18-attorney law firm that had long been considered to be one of the area's top real estate law firms had been quietly achieving great success for its clients in other areas of its practice.

In order to let its real estate clients and the real estate community at large to know of its broader expertise a new web site was created.

The objective was to position itself as a law firm that is highly effective in a broader arena of legal services. The newly designed web site not only reinforces it core image, it also offers individual marketing messages for each of the firm's 11 practice areas.

Imagine how much new business they will get from their current clients and by referrals in their core market - now that everyone already doing business with them knows the full story!

If one of your clients, prospects, or referral sources says, "I didn't know you did that" in response to a comment you make - you need to be much more proactive in telling everyone about everything you do.

And you need to tell the regularly. It's not their job to remember six months from now what you said you do. It's your job to make sure 6 months doesn't go by without some sort of reminder of your benefits to them and their friends.

The third and by far the most leveragable word of mouth marketing tactic is making the most of your professional relationships.

One way is to make partners out of your competitors - the other people who do what you do. Making them partners is more effective than trying to battle against them.

Let's say that you have specialized industry or professional knowledge. You are an expert. Why don't you encourage those competitors of yours who are not experts in your particular speciality to refer clients to you on a split fee or commission basis?

It's a great deal for them since they are offering value beyond their own expertise, you are doing the work and they are getting part of the money. It's a great deal for you because you do not have to invest marketing dollars to get the business. And it's a great deal for the client since they are getting the best of what they are looking for.

Maybe this can turn into a process where several newly minted enthusiastic energetic professionals are drumming up new business for you.

On the other hand if you are the newby and someone else is the expert - the referral and the commission/fee spilt is reversed.

Regardless of which side of the equation you're on, the client benefits. You save time, make more money, and are seen by all as being more professional. This can be a very profitable two way street!

Be sure to invest the time to learn the strengths of your competitors and make sure they know yours.

One way that you can do that is to create a small community relationship between and group of your competitors by forming a peer group that meets regularly over the phone in a co-mentoring environment.

This twenty-first century peer group is not for swapping leads it is an experience exchange. The more you know about the value your peers offer and vice versa the more effectively you can collaborate with them for the benefit of your mutual clients.