Every business will more than likely agree that customer referrals are awesome! Not only do they have a much lower acquisition cost than customers obtained from traditional marketing, but conversion rates are usually much higher as well. The amount of referral business you have is a good measure of the success of your marketing efforts. There are numerous ways to get referrals from your customer base and the sections below will outline a few:
Satisfy Your Customers: It may be a simple idea, but providing a great product or service your customers love will naturally get you referrals. The idea is to have something your customers truly love. For some industries it can also be what your company stands for. If you are lucky to have a very unique product or service, you may also be able to get many of them to talk about it on social media sites. The more a customer loves your product, the more likely they will want to tell or brag to their friends about it.
After they order or sign up: For many businesses, a great time to ask your customers for a referral is after they placed their order or signed up for your service. For example you can write or send a thank you card for their business and slip in a referral slip as well. Not only will it show that someone took the time to handle your business with care and attention but, also a few seconds to write a personal message
Customer Service Issues: Let’s say that you have a customer call in with a complaint or customer service issue. How can you turn this into a positive? If you take care of their issue and make them a satisfied customer once again, then that would be a great time to ask for a referral. People can feel obligated to return the favour when you help them out with their issue. Even if it is your fault. This can be done after the issue is resolved while you still have them on the phone or even with a follow up email.
Product Reviews: Any business that sells a product online should have the ability for customers to post product reviews. A product review in essence is someone speaking out that they vouch for the product. According to some online research, over the 70% of online shoppers read product reviews before buying. When was the last time your bought something online? Did you look at the reviews to see what others are saying?
Offer Incentives: When you ask for referrals, it can be a great idea to offer some type of incentive when it is appropriate. If you offer a fairly profitable product or service, you may want to offer cash as an incentive. For example, offer your merchants a €50 referral fee for every customer they refer to us. Another idea would be to offer them a discount off of their next purchase.Curtis with Gotmerchant.com has been helping small businesses accept credit cards for the past 8 years. They offer an award winning merchant account service with a level of personal service unmatched by most of their competitors.