Many business owners say that referrals are an important source of new business yet most leave it to chance as to whether someone will refer them to a new customer. This article written by Allan Dib of Successwise has some great practical tips to help you maximise your referral rate. Here are some interesting facts:
Most customers will refer you when they are asked to do so.
Most people, when referred to a business by someone they know, will go on to buy from it.
Referrals are the lowest cost way of winning new business.
Many businesses say they are dependent on referrals but most do not have a consistent referral process.
You have formal processes to do most things in your business so why wouldn’t you invest in some effort to lock down a referral process that works? If you think this is a good idea you could also read my earlier blog – Grow your sales: How to win new customers at next to no cost It provides an eight step referral processes and some research backed statistics on who consumers TRUST for a purchasing recommendation and who business to business buyers TRUST for their purchasing recommendations (Spoiler – websites, SEO, pop-up, TV and radio ads are not at the top of either list).