Why Do Your Want Referral Customers?
Cost Effective, Reduced Price Resistance, Trust is easily established, They are more likely to refer, More likely to do business on your terms, Better customer overall
Reasons For Untapped Referral Potential In Your Business
Reason #1: Taken For Granted = Assuming you are doing good… Not quantified
Reason # 2: Satisfaction = Referrals = People are satisfied so I get referrals, Passionate Advocates
Reason #3: The Fear That YOU Are Too Busy = “Nobody goes to that restaurant anymore. It’s too busy.” – Yogi Berra, People’s radio’s are tuned to WIIFM, Damaging Admission
Reason #4: Out Of Sight Out Of Mind = We eat sleep and breathe our businesses… Our customers do not… Missed opportunities
Types of Referral Systems?
Money Based (accumulate points, refers most, etc.), Gift Based (Free Tickets, Gym Membership, Free Dinner), Prize Based (Monthly or Quarterly), Recognition Based (Newsletter, Thank you cards, etc.)
Ways To Improve:
Method #1: Measuring Referrals = Holding Customers Accountable, What Are Your Expectations For Your Customers?, Making The Hard Decision
Method #2: Have A Conversational Basis = Don’t be self defeating (don’t wimp out), Use current events for relevancy, Maintain a dialogue, Timing is critical, Set the expectation
Method #3: A Customer Newsletter Done Right = Building Emotional Relationships, What Is Done Right?, Crafting It Lovingly Personally, Psychological Triggers
Method #4: Clients are the source; not the sales force = Clients are a source, You’ve got to do the follow up, Ask for names and addresses, Extract the value
Method #5: Increase Your Frequency Of Communication, You can’t over communicate, Build A Customer Appreciation Calendar, Relationship vs. Transaction
Method #6: Viral Materials With Pass-Along Value = Clients are not qualified to be your sales force, Do the heavy lifting for them, Use specifically designed materials (i.e. Referral Cards), Bring value!
Method #7: Business & Social Events = Business vs. Social, Create an opportunity, Make it fun (Magicians, BBQ, Liquor, etc.), Create interest and obligation, Customer appreciation seminars
Method #9: Referral Stamps & Forms = Referral stamps, Custom forms
