It’s pretty simple - smart Small Businesses rely on Referral Programs to bring in leads. Referral Programs are effective tools in converting leads and expanding your loyal customer base.
What is a Referral Program for Small Business?
A referral program is a word-of-mouth marketing strategy that turns your most satisfied customers into brand ambassadors. To simplify - your customers do a lot of your marketing for you! Referral programs let satisfied customers share their brand experience with partners, colleagues, and friends - providing a much larger communication web than your business could do on its own, at a fraction of the cost!
The purpose of a referral program is to acquire leads and build credibility. When you ask your customers to consider others who might benefit from your product or service, they will forward leads that are already a good fit for your brand. It means you will spend less time and money on acquiring new customers - these referred clients will come in already with exposure to your business.
For many, a Small Business Referral Program produces images of punch-card programs or discount coupons. These are low-budget tools that can produce results, for sure, but even small businesses can expand their reach by collecting and using data and creative communication.
How to Start Your Own Referral Program
There are a variety of referral program software systems that you can research and utilize in setting up your own referral program. You can also utilize a variety of templates connected to your current CRM that allow you to create a bank of referral request emails, referral follow-up emails, social content about your business, and tools for creating a positive customer experience.
That all sounds like a lot of work, but it is actually quite easy. After setting your referral program goals, start by:
Referral Program Examples
You can reap great benefits from a strong and well thought out referral program. Offering your customers an official way to spread the word about your business and rewarding them for their efforts is the name of the game! There are many creative ways in which you can launch a successful program:
There are many ways to engage with your current customers to build a quality program that will benefit your bottom line. You can increase your visibility, expand your audience base, and grow closer to your current customers, for a fraction of the cost of paid advertising. Something to consider when creating your business and marketing plans!
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