Back to How Gusto Built a $9.5B Company with Co-founder Tomer London, with Tomer London.
How Did Word of Mouth Grow Gusto?
Tomer London grew Gusto through word of mouth by treating the small business owner as one decision maker. The choice is professional and considered, closer to an enterprise buyer, and it is still a single person, closer to a consumer. It is an objective decision meant to improve a business, without the complexity of an enterprise deal where 10 departments must align on strategy and a budget.
Word of mouth is the whole game, and it takes a product worth talking about, one people really love. The starting thesis was that Gusto could not afford salespeople walking the streets, so growth would come from incredible customer love, with NPS of over 80, over 70. Small businesses talk with one another and recommend products, so referrals and word of mouth became the growth engine. The hypothesis was right and has worked really well.
Gusto later added scalable marketing and scalable sales because a loved product sells even more when Gusto shows up on Instagram or in social. A salesperson who calls to help finish onboarding helps too, and the result is positive for the business. The core stays customer love.
How Gusto Built a $9.5B Company with Co-founder Tomer London ·