8 Ways Your Small Business Can Benefit From Referrals

8 Ways Your Small Business Can Benefit From Referrals

It’s safe to say that “word-of-mouth” or referrals 9(otherwise known as referral marketing), is the oldest and most effective of the numerous marketing strategies. Think of the last time you tried something that a friend recommended? Did you try this product or service simply because they said it was good?

People Trust Other People

In a study performed by the Nielson Company, it was found that 90% of the participants believed that “recommendations from people known” was the most powerful form of advertising. Additionally, 70% of participants also said that they trusted online reviews.

I recently stumbled upon an article titled “The true power of referral marketing and how you can use it today to grow your small business fast.” Olivia Angelescu, the author and a launch and growth strategist, explains three reasons why referral marketing works.

It comes with the persuasion factor already included!

Simply put, people trust the opinions of other like-minded individuals, especially those they’re closest to.

The laser targeting aspect of referral marketing!

Referral marketing creates an instant target market that is more difficult to get on social media or search engines. A consumer will recommend a product or service to a friend, family member or even co-worker that they believe will benefit.

The reach of referral marketing can be crazy high.

Thanks to technology, the term “word-of-mouth” has reached a whole new level. With lots of outlets to research from Facebook to Yelp, people have instant and plentiful opinions.

How You Can Use Referrals to Grow Your Small Business

  • Focus on one thing: having a very good product or service.

 Quality products will result in quality reviews.

  • Make it personal.

Make an effort to get to know your customers and make sure that they have a good experience. They are more likely to share these positive experiences with their friends and families.

 

 

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