Word of mouth used to be a great way to build a client base. If you did a great job servicing a client in years past, you'd likely see more work from your clients' friends, family, neighbors or colleagues. This indeed still happens, and by no means should you abandon your past clients. But without a prominent presence online today, when the friends and family of your satisfied client attempt to look for your website and don't find one, your referral business is likely lost forever to a competitor with a strong web presence.

For instance, if you are in the roofing business and a client recommends your services to his neighbors, they will likely go into their home office and attempt to look up the name of your business on the Internet. If they don't find your page, they will most certainly find another roofer who likely has customer testimonials and online incentives that will be equally as enticing as the praise they heard from their neighbor. They will have contact information for your competitor at their fingertips, and if the website is persuasive enough, they will obtain a quote from your competition as quickly as they can pick up the phone or send an e-mail.

Online advertising isn't the only form of marketing that is replacing word of mouth. Branding in today's marketplace is essential. When a catchy slogan from a print ad, television spot or radio jingle is at the top of your potential clients' minds, they will likely contact that company. The more impressions you make on passive consumers who may not even be in the market for your particular product or service, the more likely they will be to call you when the need for your goods or service arises in their lives.

This isn't to say that you must have a multi-million dollar advertising budget to survive. In fact, a savvy business owner should be very pragmatic with advertising funds. Return on investment is crucial. The amount of money you spend on advertising needs to be justified by its long-term returns. Simply avoiding advertising because you don't know how to measure your return on investment, however, is no longer an option.

The most advisable way to market your business is with a strong media mix. Learn about your targeted customer base's demographics. Are they mostly well-educated, high-income people? Consider print advertising in the leading newspaper in your area. If your target audience is more technologically oriented and younger, online ads with the leading website in your area are probably a better choice than the paper.

If you only rely on one method of advertising, be it word of mouth or a website or any other media, you are missing out on potential business. No business in today's tricky economic climate can afford to miss out on prospective clients. Referral business is great, and customer service should strive to make your word of mouth reputation as strong as possible, but a solid media mix is best to leave no marketing stone unturned.