How to Get Referrals

How to Get Referrals

We all want more referrals. They are a great source of business. They are typically high quality customers that are willing to pay top dollar with little sales effort because they already trust the source that has referred you the business. According to Neilsen people are 4 times more likely to buy from you when referred by a friend. ┬áSo referrals come typically come in two forms. One great source of referrals can come from your existing customers. Another great source of referrals can come from your business network. Let’s take a look at how you can grow sales and get customers through referrals. Let’s start with how you can get referrals from your existing customers. This is a great place to start because these customers are already satisfied with your product or service. Use polls and surveys to find your most passionate clients. These clients are valuable and should be held on to. Offer these clients a discount or incentive to refer you business. Advertising is expensive and the cost of acquiring a new customer can be enormous. Many times businesses will spend more on advertising then they make from their first interaction with the client looking to bank on repeat business. Offering a discount, an upgrade or another incentive can be cheap advertising that will pay off big. There are many ways to incentivize your customers to send you referrals. A discount to an existing product or service they are already purchasing goes a long way. Another possibility would be to offer a discount on a product or service they have not tired yet. That way you...