Date Posted: 12/13/2012 6:50:47 AM
Posted By: fly1234 Membership Level: Bronze Total Points: 15
When your business becomes successful, you realize that part of that success is attributed to referrals. Referrals, just as the name suggest, are people who come to buy your products or services because they were referred to you by their friends who liked your services. The good thing about customers coming from a referral is that they come with a good preset of trust before even buying any of your products or services. You see, at the back of their minds, they have been told that you are just the right person who sells the right stuff in town.Many businesses have done so well that they have switched to a "referral only" policy, where they only conduct business based on referrals only. However, this option may not be ideal for a small business because you'd essentially be locking out potential customers to your business.How to create a business worthy of business by referral:First, you must stay ahead of the competition. If your business is a mirror of several businesses in your area, you will find yourself wrestling with the tough competition. For every "juicy" benefit you offer, your competitors will also do the same. This type of war is not so healthy for your advertising as it can ruin your branding.As for referrals, building relationships with clients is imperative. Not just relationships, but serious ones-like knowing their birthdays, anniversary, their personal likes and dislikes about your products services, and making notes on their accounts on your CRM so that all your employees know the personal details that distinguish your business from others.List Your Business OnlineThe next thing is to always keep in touch with them. Doing this may require a bit of your time, but the effort is rewarding. You can do this by sending out occasional newsletters, gifts and many more. Implementing this practice systematically will ensure that you are building a culture for your brand and business. The beauty of designing your own referral system is that once you have the system in place, you will be able to track your rewards versus results as well.Rewarding your customersDon't be too selfish. You may choose to give them complimentary gifts just for showing up, random gifts or discounts for being loyal customers. Either way, just ensure that they are rewarded in a special or customized way. If you are going to send out 10 free gifts, let them have different colours that happen to match your customer''s favourite colours. You may include a note: I knew this colour would be best for you! In essence, you are letting them know that they are receiving special treatment from you.Connect with referral partnersFinding a business that is willing to give you referrals is a good idea. Ask them what benefits you can offer so that they can continue to be a faithful referrer. Just take the time to evaluate where your business is before deciding to practice this marketing technique-"referral only" policy.
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