In our last blog, we listed a number of reasons why you shouldn’t be shy to ask your customers for referrals. Referrals boost customer loyalty, help to grow your target audience and help your brand to go viral. In today’s blog, we’ll look at some more benefits of asking your customers to recommend your business.
Customers are the most reliable advertisers.
Even the most elaborate and expensive television commercials can’t convince consumers to support businesses in the ways their best friends can. Who are you more likely to trust? A person you’ve known for years or a TV spot you’ve seen once or twice? Because people tend to believe the words of those who have experience with the brands they’re recommending, referrals are the most trusted forms of advertising.
“People are likely to believe testimonials over your sales pitch,” affirms Mike Wood on AllBusiness.com, “This means that potential customers are more willing to believe their friends who have already used your service. People who are referred to you are more likely to go with your service simply because you were recommended, and spend less time scoping out your competition.”
Referrals help you to reach consumers you’d never otherwise meet.
Especially when you’re not working with a large advertising budget, a referral program is the ideal way to grow your customer base. There are so many people out there who are likely to benefit from your offerings. But how else would they discover your business if it wasn’t for a recommendation? Encouraging referrals helps to ensure that you connect with consumers who would otherwise never know your business existed.
“Marketers want more leads, and this happens through word of mouth,” writes Megan Mosley of Referral Rock, “Referral marketing provides scalability for this to happen. A referral marketing campaign helps you reach a large audience that you might not otherwise be able to reach, all thanks to the power of word of mouth recommendations from happy customers.”
Referrals can lead to more referrals.
The more referrals you request, the more referrals you are likely to get. Most people are quite proud of the recommendations they make. They’re only too happy to pass along the good word about a strong brand they’ve “discovered”. This is true for people who have been referred to a company they end up having good experiences with. They are very likely to refer that company to others they know.
“Kind of like compound interest, referrals become more rewarding when they turn into referrals themselves,” Wood points out, “Again, everyone knows someone who can benefit from your services. Continue to multiply your referrals and you will eventually have an endless stream of customers, all of whom can lead to additional referrals.”
At Unity Payments, we offer a wide range of products and services that allow you to have multiple revenue streams, cost saving tools and the benefit of economies of scale. Among them are referral programs! They compliment your business with Aggressive Compensation, Sales Automation and Complete Back End Support. Contact us to discuss your needs. You can call us at 1-800-661-3761 or email us at email@example.com to learn more.