For any new business owner, marketing is one of the toughest things to master. You read all the books, follow through all the instructions, and they just don’t work. It doesn’t help that there’s a lot of misinformation out offered in expensive courses and get-rich-quick schemes. For any business owner, the right type of marketing depends on the skills of the individual available, but there’s one type with a consistent ROI and stability that most other marketing types don’t have and that’s referral marketing. Here are 5 reasons why you should try referral marketing.
Easy to Do
Referral marketing takes many forms, from online stores to in-person meet-ups. It’s one of the more versatile marketing techniques, which means you can customize it to work for you. If you love meeting people in person, getting out there, and meeting other business owners, then you should look into a local BNI chapter.
If you prefer writing or working online, then there are plenty of referral programs available online. You can attach these to your online business, coupons for your business, or even mail them to your clients’ homes.
The Most Effective form of Marketing
I remember seeing ads for this one pizza shop everywhere. They were on my Facebook, Instagram, flyers on the street, phone numbers everywhere, google ads and even my emails. It wasn’t so much that I was bothered by it, but it was getting a little annoying, and they never convinced to go try it. After all, there are enough hipster pizza restaurants in my area.
But then I was talking to a friend who kept raving about this pizza shop. He just ate there for the first time and fell in love. He’s a big foodie so he’s always talking about food, and if he says he liked a place, that means it’s really good. That’s when I went in to try it, and sure enough, it was delicious!
I’m sure you’ve had similar experiences. In fact, studies show that people are 4 times more likely to make a purchase after being referred to by a friend.
Works Seamlessly with Social Media
Now imagine if that pizza place had a referral program, maybe an online coupon they’d email to my friend and he forwarded it to me. Then I would have been even happier and shared it online with plenty of other friends online. I would have talked to friends in person and then forward them a coupon. Usually, those coupons give us both discounts, making us even happier to buy their pizza again.
They could also do programs through Facebook Ads to reach an even wider audience at once that also works with the referral of your customers to maximize your prospects.
Build Trust for Your Brand
We trust our friends. If I had gone to that pizza place alone, I probably would not have liked the pizza as much. A lot more value and excitement are added when you try something with a friend and you talk about it to others. That builds trust for the brand over time because if it didn’t disappoint my friends, they wouldn’t disappoint me. It also shows that your business is dedicated to top-notch customer service.
If you need help connecting your business to referral marketing. Try Versatel Solutions! We make sure that businesses have the tools they need to succeed through expert social media, admin, and bookkeeping services!