10 Jan The key to boosting valuable business referrals
Referrals can have a profound effect on a business’s bottom line as they provide a continuous stream of customers who are willing to buy. It has also been shown that people are four times more likely to buy from a business when referred by someone they know. Referred customers are also more loyal than those that have merely stumbled across a business.
So with referred business equating to gold dust, its no wonder businesses want and need more referrals.
Four ways to boost referrals for your business
Provide exceptional customer service
The level which people deem acceptable customer service has risen, because of business’s continuous efforts to delight their customers. To get customers talking about you to others, you need to do things that are both unique and attention worthy.
Think about what has made you talk about a business to someone else in a positive way? Was it quick delivery or perhaps you admired their professionalism? List the stand out service qualities that you admire in other businesses and employ them in your own business.
If a customer tells you they are satisfied with the service they received, let them know that you would appreciate them sharing their experience on social media, which you may wish to incentivise. With most people conducting research before they purchase a product or acquire a service social media reviews are often a customer’s go-to source of information.
Offer an incentive
Many businesses have already hopped on the bandwagon of offering incentives to customers who deliver positive word of mouth.
Customers enjoy discounts and rewards, making them more likely to continue with their referrals.
Give referrals to other businesses
The best way to increase your referrals is to give them generously yourself. Recommending a business to a friend, family member or colleague can spark a chain reaction that may result in return new business. If you attend networking events, make a point to introduce people to one another.
Referrals are a quick and easy search tool that reduces the time needed to find a suitable business. Referrals are a powerful selling tool, as people would much prefer to do business with people they know or know of. After all, very few things are more reassuring than a recommendation from someone you know and trust.
Want to boost your referrals with social media?
See you next week