Nowadays where paid advertising is on the rise people tend to trust the opinions of their fellow mates more i.e. referrals. This gives rise to a key marketing concept known as referral marketing. Referral marketing simply means how other people recommend you via word of mouth. Unfortunately, many companies fail to pay attention to this very powerful concept. Did you know that around 80- 85% of people i.e your potential clients would buy your products or hire your service because they heard from someone or were being referred to. However, only a shocking 29% actually refer people!
According to a Nielsen survey, if referred by a friend or family, a person is 4 times more likely to buy a product or service and have a 37% higher retention rate. That is pretty amazing, isn’t it? Imagine how much business a company is losing by not preparing itself for referral programs.
Here are simple yet effective tips for your company to keep up with emerging referral marketing trends in 2019 :
Start blogging about the topics related to the work you do. Something that is trending and creative. Make the content relevant, easy to understand and accessible. Make it creative with lots of pictures and quotes to attract traffic. But don’t forget to update your blogs too, make sure that they are relevant today or else they will never appear among the first searches. All of this will help you get more traffic.
Also, Link yourself to influential bloggers and writers online. They tend to take notes of links and would definitely help you get backlinks.
Ask but don’t be pushy. Maybe casually slip it in conversations or be upfront and talk about it. Don’t shy away from asking for referrals. Make it a habit to at least talk to some people every day regarding the work you do and who you are looking for.
Since, clients can be your biggest source, given below are the times you can initiate the referral topic:
At the Start: You can even make it a part of your agreement where you could ask the customer to give you a certain number of referrals If you do amazing work for them, which you will!
At the end: After completion, ask your clients if there are any other potential customers that would like a similar kind of service. Let them know that you are willing to take up new projects. It shows your enthusiasm and dedication towards work, hence, garnering positive word of mouth and more referrals.
Host a small meetup for your current as well as previous clients and you could also invite partners. It can be a small get together, an interactive session conducted once a year. Inform everyone of your progress, achievements and current projects. This way people will know about the amazing work you do and they would want to refer you to others too!
There might be some contacts you haven’t even worked for in a while. Send them emails, maybe once in two to three months. Let them know how much referrals mean to you and that their help is always appreciated. This will help you stay in their minds and be a constant reminder of the amazing work you have done for them.
5Give and take
The more you give referrals to others the more you’ll receive. They’ll remember you whenever a service like yours is needed. For this start meeting new people and introduce people to one another. Referrals are always appreciated and will get you some in return too.
In the end, I would like to say that never forget to thank the referrer. A simple Thank you email or phone call will suffice. It will help keep your connection.
Referral marketing is one of the most important forms of marketing to get business but surprisingly many companies do not pay attention to it. Referrals are the highest form of compliment you can receive and is a sure way of getting work.
Did you know that referrals are playing such an important role in growing your business that there are dedicated companies that create network dedicated to facilitate referral business. Examples of such networks are ADAM Global and BNI Where BNI operates on just making business referrals within a certain locality city via different chapter in each region, ADAM Global facilitates cross border business referrals via a singular platform.
If nothing at all joining a network like Adam global will not only facilitate your growth through referrals but also enable you to stand out as an industry leader, stay ahead of latest business trends and much more.
Interested to get your business growing? Sign Up today to join a global community of accredited professionals.