Referral Marketing

Word of Mouth is the Cheapest, Yet Most Effective Marketing in the World

The concept of referral marketing is to generate of a large portion of new customers by providing exceptional service to existing customers and because of your excellent products and services these customers gladly recommend you and your company to others.

There are several reasons why this is an intelligent way to market. First, quality attracts quality. Psychologists say that you are basically the sum of your five closest friends. In other words, people will refer people who are similar to them and in their sphere of influence.

If someone is a big spender, guess what? They will probably refer other big spenders. Every good customer should be actively pursued for referral because they will usually generate other customers of equal quality and value.

Another reason referral marketing is good business is because some marketing and advertising is met with skepticism and with referral marketing that skepticism is a mute point.

Know this – people are more likely to believe in you if someone else endorses your business than if you yourself begin marketing to them.

What you’re really doing is leveraging off of someone else’s credibility. People who take the recommendations of their friends are now coming to you already convinced of your ability to serve them in the manner in which they want to be served – before you even have to open your mouth.

Finally referral or word of mouth marketing is target marketing. Basically, you’re only going to be getting people who already are in the market for what you’re offering. Mass marketing does not have this effect. If you run an ad on television, you get everybody who watches TV.

But with referral marketing, you’re pretty much only getting people who are already great matches to your products or services. This means your closing rate will go up without having to learn one single bit of salesmanship. You’re just getting people who are already more likely to say “yes” before they even enter into the store.

Okay, know my rule of thumb when it comes to referral marketing – every good customer should get three direct chances to refer someone else to you.

I have found in order to get the best results, you have to ask someone three times to make a referral on your behalf. If you do nothing else, you should do this.

However, to really make it effective, there are two more things you need to do: make it easy for them to refer, and make it worthwhile to refer. I’m going to show you how to do all of this and more, as I outline what I have found time and time again to be a profit pulling monster when it comes to referral systems. (Con’t).

For a free copy of the complete report, send an email to: strategicmarketingprofits@gmail.com and put “Referral Marketing Report” in your subject line.

Martha A. Herring