“In sales, a referral is a key to the door of resistance”- Bo Bennett
According to Nielsen, 92% of consumers trust referrals from people they know. Another report from Marketshare shows that word-of-mouth can improve marketing efforts by 54%. Referrals generate sales; you probably know that fact. Did you know how powerful referrals are?
Every business can utilize referrals to double its sales. It doesn’t matter what product or service is sold; word-of-mouth plays a massive part in influencing people’s decisions about your brand. Businesses using referrals as part of their marketing experience have more than 70% conversion rates. The numbers speak for themselves. People trust referrals. If you want to generate more sales, you need to step up your referral game.
Here’s how to get quality referrals:
#1 Offer special referral packages: Offering special deals to loyal customers is a great motivation to get them to talk about your company. You and your loyal customers gain from referrals. Make sure the logistics of the package are analyzed before promising referral offers.
#2 Build an irresistible name: There are thousands of entrepreneurs, lawyers, or retailers out there; being the name on everyone’s list gives you an edge. For example, almost everyone knows McDonalds produces delicious burgers and fries. This is not necessarily because everyone has eaten at McDonald's. It’s just that everyone talks about them. Find out creative ways to make your business more popular, and you will earn quality referrals.
#3 Partner with other service providers: Collaborate with companies that offer complementary services in a referral program. For example, a skin therapist can partner with a masseur to promote their services. Offer a discount on both services and sell packages so that they can fulfill the needs of your clients in one place.
#4 Create referral assets: Build specific marketing and sales assets – social media graphics, emails, infographics; the presentation can answer your customers' questions and also get you a prospect over the line.
#5 Ask at the right time: Most entrepreneurs ask for referrals at the wrong time. The ideal time for referrals is during the project or whenever the client is giving you feedback. You can also create a referral email template to get the best response for your work.
Now that you have learned effective referral tactics, you should start practicing these techniques to get your current clients to shout about your company from the rooftops. Bringing all these together, it is essential to remember a few things about referrals. Firstly, you are the driving force for your business success. Do great work and be specific with what you ask your clients to do to win offers. Ask them for a referral appropriately. Finally, make it a habit to practice this more so it can become natural for you.
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