Positive word of mouth is a phenomenon that can do a lot of marketing wonders for a brand or product. Let’s take the example of 2007’s horror smash hit Paranormal Activity. The movie was made on a budget of $15,000 and given a limited release. But word of mouth helped the movie immensely and it went on to earn $200 million worldwide! Today, Paranormal Activity is considered to be the world’s most profitable film ever (based on ROI). Wouldn’t you want that kind of word of mouth for your business?
In the business world, word of mouth is popularly known as ‘referral marketing’. It takes a lot of effort to gain referrals – you will have to step out of your zone and reach out to customers to establish an emotional connection with them. This article provides you with tips to gain referrals that win you a lot of sales!
- Make sure your product is referable!
Your product will gain from referrals only if it is ‘referable’. So, make sure you iron out any deficiencies in your product. And work with your team to ensure high quality is maintained. This is only the first part. You will then have to promote your product’s USP so that more people learn about its efficiency.
- Launch a referral program
Get your favorite clients to join in and spread word about your products. Use the power of referral programs to ensure they are encouraged to highlight your brand to friends and family members.
- Collect a lot of testimonials
There are some clients who may not be keen to take part in referral programs. Gain their trust and seek testimonials that can be put to good use on your website. You can also create case studies using their examples and upload them on your website.
- Give referrals whenever possible
You will have to give referrals to clients and vendors to gain their confidence. This will ensure they are in a more positive position to give you referrals when the chance arises!
- Don’t hesitate to ask for referrals
A lot of businesses hesitate to ask clients for a referral. The next time you are working with a client, make sure you ask for a referral. The client will definitely give a referral if he’s satisfied with your services!
- Don’t forget to give a referral commission!
A pre-determined commission will serve as a good incentive to drive referrals. Make sure that people are aware about the commission so that you don’t lose out on opportunities.
- Be appreciative of customers who provide referrals
It’s important to express your gratitude by calling, emailing or visiting the referrer. Provide them with useful promotional products apart from the commission so that they have something tangible to remember your brand for years.
- Track and evaluate your referral program
Monitor the performance of your referral program and take corrective measures if required. It’s important that the referral program yields results that satisfy the business objectives set by your organization.
We hope you found these tips useful. Get in touch with us if you need help choosing giveaways for your brand. We look forward to hearing from you soon!