Referrals
Satisfied Clients Sending Customers Your Way
Referral marketing takes advantage of the contented customers you already have to generate volumes of new leads that
are ready to buy.
Referral marketing is an extremely effective alternative to traditional marketing. As most marketing techniques become
more expensive and reap fewer profits, people are focusing on the different ways to market a business that are out of the
ordinary and are more effective than usual. The thing that sets referral marketing apart is that typically your satisfied
customers are the ones who are sending new clients your way. Business clients will trust other customers infinitely more
than an ad, which simply offers the spin the seller wants it to have. For this reason, referral marketing works much better
at getting new customers in the door.
One of the most effective ways of referral marketing is by having customers place banner ads on their own websites.
Potential customers simply have to click the banner to go to your website for more information or to make a purchase.
Typically there is compensation for click-throughs or for purchases that originated from the referrer’s site. Other
companies that offer products that are complimentary to yours are also good sources of referrals. You can set up an
uncompensated referral program where you exchange banner ads with such companies, or you can put a more formal affiliate
referral program in place.
More direct referral marketing is also very useful in sales and it is simply by asking satisfied customers for referrals of
other companies that they feel could benefit from your product or service. This type of lead is considered a warm lead and
is much more likely to become a sale than other types of leads. Remember to always thank customers who give you referrals
with a note and even a gift. The value of the gift depends on the value of the sale.
For your business, referral marketing is one of the most lucrative ways to market. Your sales will greatly increase with
less effort and expense on your part, when you start to use your own customers to generate leads. Rewarding your customers
for their leads is a small price to pay for referrals that are already pre-disposed to buying your service or product.
It is a well-known fact that word-of-mouth is the best advertising. A referral program is simply a variation of word-of-mouth.
Satisfied customers give you the name of other companies who could be potential customers. When you contact them, the referral
is mentioned and the potential customer will often go back to the original one with questions. Your sales work is being done
for you as your own customers are convincing others of your worth.
For more information on having MarketBlazer guide your business to
the next level in marketing, call (770) 406-6343 or email us at
info@marketblazer.com.
