There are two main sources of referrals you ought to take advantage of in our highly competitive business environment.
Thanks to referral marketing, a lot of businesses have managed to weather the storm of declining sales and continue to thrive.
What is referral marketing, anyway?
Referral marketing is a strategy that encourages passionate customers and other advocates to directly refer their network to your business.
Now that you know exactly what referral marketing is all about, I want us to turn our attention to the main topic of this post.
I’m referring to the two most important sources of referrals you must be working with.
Much as I agree with the view that there may be other sources of referrals for any small business, I honestly think that these two sources of referrals I’m about to share with you are the ones that bring in the most results.
Your current customers
The existing crop of loyal customers is simply the easiest and most profitable source of getting referrals for a small business.
The below reasons should convince you to begin to value this gold mine of referrals you have at your disposal.
It is cheap. You do not need to spend a lot of money in order to make your customers bring in the referrals your business needs so badly.
It is very close to you. The advantage of nearness means that not much effort has to be put into getting people to participate in your referral programme.
The people who come to your business on a daily basis can be recruited to participate.
You can rely on their loyalty
Because these are people who are happy to continue patronizing the products you have to offer.
So, definitely, the zeal with which they will be willing to go out there and get you your referrals can only be described as overwhelming.
They have good knowledge of your products
And this matters a lot. Their continued use of your services has equipped them with the practical knowledge and experience you need from your marketing agents.
You can rest assured that your customers will do a good job educating prospects on the benefits of your services.
We can now look at the second source of referrals for a small business.
These may be people you hardly know.
Sometimes, too, you may have had some sort of interaction with these people in the past.
What matters, however, is this. You have convinced yourself that the influential people you’ve chosen are the movers and shakers in the industry.
People simply stop to listen when they speak or sneeze. Therefore, when you succeed in getting them on board your referral marketing programme, you can only expect the best of results.
Now let me give you a couple advantages of influential people as one of the best sources of referrals.
They have authority
And they speak with just that. Then what happens after that? People listen and take immediate action. If that is not good news for your referral programme then you will do me a favour by giving me a better one.
They command respect
Influential people have reached that level by dint of hard work and with a string of spectacular achievements behind them. This is why the crowds easily gravitate towards them, treating whatever recommendations they make with the utmost reverence.
Influential people bring along their raving fans
Trust influential people to make at least a fraction of their followers become yours as well. What else can you wish for your business other than this?
Here is a catch, though …
But don’t forget that, unlike your customers, you may have to part with some money in order to make these influential people become part of your referral programme.
The best approach
The best approach is to rely on both of these sources of referrals as you embark on your recruitment drive. I wish you good luck.