The Pot of Gold-Referral Marketing episode #20

June 5, 2014

 92 % of customers trust recommendations from friends and family.

98% of businesses rely on referrals to get new business…

… only 3% have an actual strategy for generation referrals.

Referrals are the life blood of every business.

Customers, business associates, friends and family   think enough of you to refer your business.

Most business owners don’t realize that this portion of your business can actually be a pot of gold if handled correctly.

If you knew what your life time value of a customer was this revenue would really resonate.

I believe that the people who refer our company do so because they like us ,trust us, and we have supplied them  a great value during and after the transaction. After because we have customers for life.

I also believe that it’s my responsibility to let the person who referred me how their referral was handled. This is the sincerest form of appreciation.

Create a system to say thank you. Send out cards is a great way it can be set up you can make up your own card send a Starbucks card out all in one shot.

Referral marketing is the best way to keep in contact with the people who refer you on a regular basis.

The cost for referral marketing  is so little  compared to  a boring ad.

With referral marketing you’re targeting people who like you , know you and trust you its like buying a great stock that grows in value and also pays a dividend.  

Be purposeful about the people who refer your business they are  the people who are instrumental  in growing your business.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright by Pete Mitchell & Dave Negri MMXIX. All rights reserved.