Let’s face it. The economy is still shaky. Here are two tips to help you through by improving your referral business.
Spend your marketing dollar wisely. In order to do that, you need to know what marketing channels (places where you’re spending time or money to promote you company, products and services) are being most effective for you. There are people who say you can’t really figure this out, but I believe you can get a sense of what channels work better than others. The goal is to eliminate the ones that aren’t bringing you any business at all and increase the most effective channel of all–referral business.
So how do you find that out? You ask every prospective customer who contacts you where they heard about you. You can even do this online, by including a question in your contact form in addition to reviewing statistics from tools such as Google Analytics. The question to ask? “Where did you hear about us?” If it’s referral business, be sure to thank the person that gave you referral business appropriately.
Find out how your customers feel about your company, products or services. “Word of mouth,” whether it’s through social media or over a neighbor’s back fence, is still the most cost-effective way to promote your business and get more referral business. You want your customers to refer others to you.
According to Fred Reichheld, author of The Ultimate Question, the best question to ask to find out whether or not a customer is likely to give you referral business is to ask them, “On a scale of 0 to 10, with 0 being the lowest, how likely are you to refer ____________ to a friend or colleague?” Only 9s or 10s count according to Reichheld. A smart entrepreneur follows up on the rest of the answers, particularly the 0s, 1s and 2s, to find out why.
Implement these two questions in your business practices to save money and gain more customers through referral business.
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