The Unbeatable Power of Referral Marketing
Shrewd small business owners know the power of having a strategic mix of marketing methods and performing A/B marketing tests. Referrals from happy clients should definitely be at the top of your list. Referral marketing – when customers and influencers tell other consumers about your products and service – is an updated form of word of mouth advertising. This type of marketing can take on a number of forms including distributing business cards and other printed marketing materials. Referrals can also take the form of exchanging emails and creating and sharing social media posts.
Referral marketing gives your business a credibility that cannot be achieved by traditional marketing methods and self-promotion. It allows you to incentivize existing clients and prompt them to make additional referrals. Additionally, when referrals are made on social media and consumer referral sites, it adds to the social proof of your small business needs.
It’s easier than you think to create a referral marketing program for your business. Try these easy-to-implement tactics:
- It’s usually easier to upsell or upgrade to existing customers than to sell to new customers. Use imprintable key fobs to create a customer loyalty program. A customer loyalty program is a powerful incentive to keep existing customers coming back. A custom key fob serves as subtle, but powerful, marketing to potential customers.
- Customers love freebies – especially the ones they get for being loyal customers. Instead of ordinary, everyday business cards, try turning a custom business card blank into branded punch card. Customers who visit your retail business receive a punch or stamp for each completed purchase. When the card is full, they get a free widget.
- Does your business host or sponsor live events? Quickly and easily design your own Instagram photo frame. Encourage attendees at live events to take and post photos behind your branded frame. It’s a subtle way to point others right to your website and with the right hashtags, likes, and shares, it has the potential to reach a huge portion of your target market.
Maximize your marketing budget, create a huge pool of potential and repeat customers, and enhance your marketing strategy with marketing referrals that increase your bottom line. Marketing referrals work because they’re a cost-effective way to build consumer trust, boost your reputation, and increase your current client retention rates. Today’s consumers expect a personal touch whether they’re working with an individual small business owner or a huge corporation. Marketing referrals are an easy way to build customer interaction and identify loyal customers.
Of course, the easiest way to make referral marketing work for your small business is to simply ask your clients for those valuable referrals. Most of the time, customers and clients will happily share your business and its benefits when asked to do so because a mutually beneficial relationship is good for you and the client. Ask your existing consumer base for online reviews, social media shout outs, and email introductions. Offer a referral incentive when possible, and be sure to provide a good, old-fashioned thank you! Those small incentives can go a long way toward turning happy customers into brand enthusiasts.
