According to Social Media Today, 78% of B2B marketers say that referral programs generate good or excellent leads, and 54% say that referral programs have a lower cost-per-lead than other channels. Referrals also have a much higher conversion rate than entirely new leads, and clients who have been referred are more likely to stick around for extended periods.
This is true for one main reason: people trust others more than advertising or salespeople. You might make a connection with a new lead with a cold call, but it’s never going to come close to the relationship that the same person has with their family and friends.
Getting referrals from existing customers costs little to nothing, making this one of the most affordable ways to attract new customers—if you have the right strategy. In addition, you can do wonders for your business by finding creative ways to increase referrals.
In his book The Referral Engine, John Jantsch emphasizes the importance of trust within your brand. You build trust with your customers by providing free helpful content, encouraging them to buy your product or service. Then, when the quality blows them away, they’ll leverage their trust with their contacts to recommend your brand.
Building trust is the cornerstone of getting referrals, but there are other referral ideas for businesses you can try as well. For example, here are a few creative ways to increase referrals:
Learning how to get business referrals is a crucial success factor for businesses, and it can be discovered if you’re unsure where to start. So please fill out my contact form, and let’s discuss creative ways to increase referrals for your business.
Coach Dave
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