Do you have a product and your customers love everything about it? Is your brilliant business idea taking off? Have you considered leveraging the power of referral marketing to help even more people discover your product?
Nowadays, a business has to sell more than just a product. Modern world business success requires a company to sell a full customer experience fueled with the force that inspires customers to share your products with friends and family.
It seems to reign eternal that word-of-mouth referrals are the most effective way to grow a business. When you are just getting started as a business, this is especially true. According to Entrepreneur, an ever increasing number of businesses in 2015 and beyond will try to be more open to feedback from their customers.
Below are a few referral marketing ideas on how you can make the most out of your customer referrals.
First, improve your referral marketing strategy. A 2013 Nielsen Trust Study showed that referrals are the most trusted form of advertising. This information should be good motivation to establish a solid referral strategy.
Research is the foundation of any successful marketing strategy. When you want to craft a good referral marketing strategy, the initial research should include the basics, such as understanding customer desires and needs. However, it is recommended to also conduct research on potential referral channels, such as news publications, influencers (bloggers and social media influencers), as well as finding all possibilities to produce customer reviews and opinions online.
Once your research is done, use the data to find your key referral marketing ideas, and then craft a successful strategy which includes: (1) Exceptional customer service; (2) Shareable product experiences; (3) A solid referral marketing program; and (4) Use of a known or popular influencer.
Next referral marketing tip is to focus on online referrals. Referral marketing can be highly effective in an online environment due to the popularity of social media and sharing sites. Internet referral marketing can potentially spread information faster and to a wider audience than most offline marketing strategies.
These days, customers now have the power to make or break a business by what they say about it online.
According to research carried out by social media experts, 78% of consumers trust peer recommendations, whereas only 14% trust advertisements. Perhaps an explanation for why online communities are so good at generating business referrals?
Another referral marketing tip is to use content as a referral tool to forge strong referral relationships. Most often, even though they are satisfied with the product or service, most customers are too busy to leave referrals. In situations like this, valuable content can generate referral introductions in ways that are constructive and valuable as opposed to shallow and fruitless.
Next marketing suggestion is to connect with related products and services.
The old premise “It’s not what you know but who you know” is still very popular in the business world. Even though you may be skilled and dedicated to your new business, your chances of success will rise exponentially when you connect with the right people.
Many companies collaborate with complementary businesses and cross-promote to each other’s customer bases. In order to promote your business, identify a connection that would be interested in setting up a program where you will work for them and refer new clients to their business and vice versa.
Lastly, seek creativity in referral marketing ideas. Having a variety of electronic devices available to you and your customers provides infinite possibilities of creating inspirational referral marketing ideas.
Perhaps capture a testimonial on video, including a witty way to ask for referrals on every paper that customers receive – including newsletters, marketing material, and invoices.
Property & Casualty Agents seeking referral marketing that truly works are urged to check out Recamp online at https://www.recamp.com.
Recamp is evolving the way businesses go to market by assisting companies to build effective referral marketing campaigns. Contact Recamp to ignite company leads, drive online traffic, attract customers and dramatically increase your revenues.
Because the best referrals are the ones you don’t even have to ask for. Contact Recamp today at https://www.recamp.com.