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How to Increase Business Referrals

Anthony Taylor November 22, 2017
referral program

Business referrals are a cost-effective way to spread the word about your company. This self-perpetuating marketing tactic can earn your business quality customers who will continue to refer more people to your company.

Customers gained through referrals tend to have greater loyalty, and studies have shown that 65% of all new business comes from referrals.

Discover the following ways to get started with increasing business referrals for your company.

Make a Plan

Many referrals are organic, but as with all aspects of a successful business, having a solid strategy will help you get the most out of the referral process. Does your plan involve social media? Will you offer referral incentives? The first step in your plan may be something as simple as asking your customers to refer your company to their friends and family. Understand the different types of referrals and craft a program that best suits your business.

Refer Others

If you want to receive more referrals, then make sure you are giving them as well. Referring customers to businesses that complement your own can have a positive effect by encouraging those businesses to reciprocate. Networking is key, and loyal customers and businesses will multiply exponentially with a strategic referral program.

Offer Incentives

A referral gift is a great way to thank your customers for bringing in new customers. Both the gift and the recognition your customers receive should have perceived value. However, the incentives that you offer do not have to be expensive ones. Gifts can range from a cash reward to just a simple coupon or even a tickets to a sports game or concert.

Provide Excellent Customer Service

If you want to get customers talking enthusiastically about your business to their friends, family, and colleagues, make sure that you offer a positive customer service experience that they won’t  forget. Customer service can take you and your business far. Studies show that the vital ingredient for success is consumer experience.

Contact the Perxi team to learn how our resources can help you maximize your business referrals and keep your customers engaged in your business.

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