So just what is referral marketing and how can to promote your business in front of everyone else’s?
It’s basically a systemised approach that turns every single sale into the buying power of many. This is done by establishing a specific set of strategies and tools designed to bring you new customers, clients, leads, and repeat business without other advertising methods. However, when combined with other systems such as advertising and direct mail, you will have a very powerful system of customer generation.
There are usually two things that stop small businesses from working referral marketing consistently and powerfully:
- Lack of system
- Fear of rejection
If you provide a product or service that helps solve problems and meets the needs of your customers or clients then surely you owe it to others to spread the word.
If you think about the act of referring it really comes down to these two simple things:
- Provide a product or service that is liked and needed
- Administering the referral expectation
If you’re not already convinced you should be actively employing referral marketing then here’s why you need to do this:
- Referrals are credible right from the start. When a trusted friend or colleague tells you about a business you transfer that trust to this company…even if you’ve never heard of them before.
- Research has proven beyond the shadow of a doubt that people who are referred to a business tend to spend more money. It’s probably because people tend to refer those that are ready-to-buy and not merely price shoppers.
- Referrals are extremely cost-effective and even a fraction of what you might pay in advertising costs in some cases.
Referrals are essential to your business so don’t overlook them.
To get your referral system in place and multiply your customer base contact us today.
