Referrals are one of the top ways to grow your business. Exponentially increase the number of referrals you get, dramatically increasing your client base, by doing one simple thing—learning how to ask for referrals. Referral marketing is a popular method of marketing by which you promote products or services to new customers based on referrals, the most common form being word of mouth. It most times comes from within their most recent or past clients who found the business deliveries worthy or telling others and other times business can employ some strategy to influence this decision.
1. Community Engagement
Also known to some as corporate social responsibility provides an enduring shared benefit for all involved. Community engagement should be a sustained investment that works hand-in-glove with the overall business strategy and the company’s own values with an aim to drive talent attraction and retention.
2. Strategy and Partnership
As a business or professional, the ability to liaise with other professionals in your industry or go into partnership with several other businesses enable you to add value to your existing solutions, reach new markets and expand your service capabilities for your customers.
3. Deliver Quality Service
46% of all consumers will abandon a brand if the employees are not knowledgeable, In order to prevent any negative consequences, spend some time organizing training or coaching for your employees. You have to know your clients well to target the right audience, conduct remarketing campaigns, and improve customer retention. Create an atmosphere of trust and build your credibility in the eyes of your customers.
4. Take Advantage of Social Media
Social media is one of the most relevant tools to reach potential buyers. It’s effective, more targeted and is still relatively inexpensive. Audiences continue to grow and social media has more and more influence. Five B’s you need to know to take advantage of social media are: Be real, Be Relevant, Be strategic, Be Visual, Be transparent.
Simply put, referral marketing is a marketing strategy based on how well a business can serve her clients that will make them become a brand ambassador. It is cost-effective, has a long time span and proven to be one of the best marketing strategies in both traditional and digital marketing space. Watch out for our next post on influencer marketing and the relationship to other branches of marketing.