Tuesday, 5 January 2021

8 Surprisingly Easy Referral Marketing Strategies for Your Business Growth

In this article, I'm going to share with you 8 referral marketing strategies that you can implement this week let's go. My fellow business owners if you are new to me or dish channel we talk all things marketing to help you grow your business.
So let's get right into it on last week's someone said to me, when you were talking about having a written strategy for referrals in what way do you mean an incentive program for a written agreement or just writing it down as a reminder. So this article is for anyone else out there wondering the exact same thing.

So what I mean by having a written referral marketing strategy is that most business that I deal with have word of mouth by accident rather than by design and the idea here is not to create a 5 or 10 or 20 page complicated documents but to have a set of rules so you can create more consistency around referrals and word of mouth marketing and one of the most fascinating thing for me talking to business owners that usually come to me because they have a marketing needs a water house more leads for their business they want to grow their business and it will admittedly say that the vast majority of all the leads they get is either word of mouth referrals and why has them can I please see your written strategy for referrals they usually say we don't have one that just happened and the truth is that word of mouth the referral marketing is extremely effective at growing any kind of business think about it for a second.

The average business out there spends 5 times more money on trying to acquire new clients than they do on their existing clients and yet referral marketing drives 5 times more sales than paid ad impressions and leads that come from a referral convert a lot faster and easier than the cold lead someone to just found you on the internet and that makes sense someone told him about you trust and credibility is already established for you a recent study conducted by word stream revealed that 50 percent of American half of us if we could only choose one source of information about all the company would take referrals or word of mouth so based on this.

Here are my 8 referral marketing strategies that you can implement this week.

1. The first strategy is the right time the best time to ask for a referral is when a client says that was awesome, or I am super happy for whatever positive praise comes out of their mouth about you that's your cue to ask for a referral not when you're presenting an invoice and saying Hey how do you like our services that's a bad time to do it because at that moment or thinking oh crap I have to pay for this now not all customers will blur out needle nice comments like this but you can ask a question that would actually prey on them to say something such as did our services meet your expectations and if you're getting a yes and you should then that's when you ask for the referral.

2. The second strategy is to schedule an exit interview with all your clients and when you conduct your exit interview this is when you're going to ask them for feedback and what worked and what didn't work one of the great question to ask during an interview that may help you with getting more referrals is based on your experience with us would you recommend us to any one of your friends and if they say yes then you can ask them well who did you have in mind another way to ask that question is who do you know that would be a good fit for our services that simple strategy could pay off big time for you by simply asking at the right time.

3. The third strategy is that make your referral offer clear and simple I recently stepped out of a retail store where they gave me a coupon receipt that if I went to a website and registered and enter an 18 digit number I could have a check for $10 being mailed to me within 6 weeks of like. Only that's not rewarded that's a sentence I don't want no part of it your offer should sound something like referred client get 200 cash now in order for you to know the proper amount to give for referral you need to be super clear on your cost of acquisition so if you're not sure about what is the right amount to offer for a referral.
what is your cost of acquisition and I will give you what is the right amount for a referral maybe it's 100 Bucks 200 Bucks 300 Bucks whatever it is it needs to be based on how much does it cost you to acquire new clients

4. The fourth strategy is to create a dedicated page for your referral program on your website now you want to make sure that it's highly visible on your website that there is a big button refer a friend for cash or something of that nature that people don't have to dig having go to multiple pages to find it needs to be self-evident on the home page now that page should clearly define the terms and conditions all of your referral program now obviously again don't make it too complicated but at least explain to people how it's going to work but you might want to explain to them when they're going to get paid and how they're going to get paid I would also include a very simple form that someone could use to refer a friend that would include their name their email address their phone number and a box with notes with they could explain something about that client that they're referring to you but make sure that that page is a dedicated page strictly for referrals and that little tape Friday are meat generate like 10 to 20 referrals in the quarter and that's great news for you.

5. The fifth strategy is making a big deal of any referral sent to you good or bad rewarding people for sending you referrals is key don't just send them an email saying, Thank you for the referral should a video take one minute to express your gratitude send them flowers send them cookies don't do that at home do that works at everybody knows that they're getting a reward but best of all they will tell them please do it again I love that the strategy. is to have a referral plan with other non-competing businesses in your area every single business in your area that is targeting the exact same types of customer you should have a referral program in place with them and same here keep it super simple for each new customer you send me I will give you 10 percent discount all give you $50 cash but just make it super simple and that's strategy by itself for most businesses is a no brainer it's so easy to do.

6. The sixth strategy is to give a V. I. P. status to anyone that referred a customer to you make them V. I. P. give them better seats or give them different hours that is preferred by them or give them preferred parking or reserve parking for makes special offers or special discounts available to down before anyone else gets an upgraded status is very motivating to a lot of people so you want to make sure that you leverage that.

7. The seventh strategy is give people a certification of some kind to buddy tool that I used to help me grow my YouTube channel does a great job with that every time I reach a milestone they make available for me a graphic sort of finding that I've reached that milestone and of course it has their logo on it my most recent milestone was when I just passed 20000 subscribers on my channel and I got the certification from 2 body guess what I did with the certification yeah I posted it on Facebook and Twitter and into.  because I'm so proud of it guess what I've just done a bunch of publicity for to buy people are more likely to share some good news or some type of certification on social media and bragged about your services now that's not always easy for all businesses but I'm thinking of Jan here that asked that question engine owns a video production company so for you what you could do with this is you could create a 60-second blooper reel for your customers after you've done a video shoot I'm sure you're getting a bunch of I have a habit how you don't people making mistakes and everything that you could make funny given them that 60 second clip that is of course branded with your company name discreetly but still there and I'm sure that a lot of people are going to be sharing that little blooper reel on social media whether it's on Twitter on Instagram on Facebook but I would give you a ton of publicity and probably a bunch of referrals in the process.

8. The eight Strategy is make a charitable donation and your client's name in my company we've been using the services of a company called B. one G. which means one buy one get one free and what they do for us is they make micro donations available to accompany my size like we can make a $1 or $25 or $10 donation on behalf of our clients and because the charities or so divers you can tie to business to charity that makes sense for them for example we could make a donation to enforce and shelter in the pal on our client's behalf and send them our certificates saying we've done that for you now I don't know a lot of people that would be insensitive to that plus you would be making the world a better place and the chances of your client sharing that certificates. Of gratitude on Facebook and Twitter and Instagram is also very high end this will generate a bunch of referral leads for your business.

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