Business, Business Ideas, Marketing, Offline Marketing, Referrals

5 Ways to Improve Your Referral Stream

1 Comment 11 July 2010

There are 3 main ways to grow your business. 1) Increase the number of new customers, 2) Increase the amount a customer spends each time they purchase from you and 3) Increase the number of repeat customers.

Most businesses focus on number one, increasing the number of new customers the business get. If it’s a website, a business can increase the number of visitors to the website. If your store or business is not primarily based on the Internet, you’ll want to increase the number of customers that come to your store, or increase then number of people that call your business with inquiries.

There are many ways to increase the number of new customers, such as advertising your business using brochures, direct mail campaigns, magazine advertisements, post cards or other special promotions. These are all great methods of growing your business, but there is also another great way to increase the number of new customers to your business. By incorporating your current customers and having more referrals, you’ll be able to have many more higher quality customers to your doorstep. In the following tips, I’ll share some great ideas to increase referrals:

1. The time is right when your customer knows you well.
If you’ve been in a business relationship with your customer, they’ll know what you offer is of value. Their repeat business also usually means that they are satisfied with what you are offering.

2. When your customer is happy with you.
Did your customer think that your product or service was outstanding? Was it more than they were expecting? Were they happy with the transaction? These are great times to ask. A simple “Thank you for your patronage, please let anyone who you think would benefit from our (product/service) know about us” works well.

3. Increase your odds of getting a referral by asking when you have their attention.
We’re all busy, but you want referrals. Make sure you ask when the customer for a referral when you still have 100% of their attention. This will significantly increase their chances of remembering your business when your customer finds him/her self in a conversation regarding businesses such as yours.

4. Use special promotions.
Do you have a special promo coming up? It might be something like a annual sale, or a bonus pack that will be included with every purchase. Leverage all these promotions when asking for a referral.

5. Always follow up with your customers.
You’re in business because you strongly believe in your product/service. This is especially true if you are branding your company as a higher end product/service. Maybe a week or two after the transaction, call them up and ask them how their product is working out for them. If it was a service, you can thank your customer for choosing your business. After making sure everything is ok, you can ask your customer to let anyone they know who might need your product/service aware of your business.

Follow these 5 simple tips for referrals and start enjoying the increase in new quality customers from your current clients. All these steps are very simple, yet very effective in creating more business. Take time, educate your staff about referrals today.

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1 comment

  1. Dan Waldron says:

    Well said

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