Referrals are important to your business and your potential growth. But, do you know how important? According to Nielsen, 84% of people trust product and brand recommendations from people they know. Referral is considered the most trusted form of advertising.
Many business owners are afraid to ask for the referral. Are we begging for business? Does it cheapen our brand? What do we say without sounding desperate? In an upcoming Talkable publication, our research found that 91% of people are at least somewhat comfortable providing a referral, yet only 29% actually refer. This clear disconnect means companies need to ask customers for referrals, and provide them with a clear incentive and mechanism to do so.
Referral Marketing enables companies to get new customers cheaply by putting advertising dollars directly into the pockets of customers. However, in order to be successful in your customer acquisition, you must be efficient and effective.
Here are best practice tips we tell our clients on how to seal the deal:
- Be timely. The best time to ask is immediately after a positive purchase or experience.
- Take advantage of the moment. You have their undivided attention, now make the best of it.
- Make it easy. Require little effort or additional time. The referral process should be as frictionless as possible.
- And finally, make it interesting. Create a compelling offer that is unique to your brand, and more attractive than concurrent promotional offers available to visitors..
What is holding you back? Are you shy? Feeling awkward? Well, your competition doesn’t feel guilty asking for the referral- they’re already reaping the benefits! You will never truly know the power of referral unless you ask. And more often than you might think, you’ll be able to get the response you want. So, go for it, just ask.