Why referral marketing should be the core of your business strategy

Why referral marketing should be the core of your business strategy

Faith Ocampo Published on September 15, 2015

female-friends-listening-to-phone-call
As social beings, we re naturally inclined to share our experiences with friends. Whether it s a remarkable or a disappointing incidence, it s likely to come up during conversations among people we re close with. Stories about products, brands, and our customer experience are no exception.

In fact, when it comes to gaining new customers, referral marketing is one of the most effective ways to generate leads. As a business strategy, this free advertising is enhanced by the trust factor. We re more likely to believe our friends and family over an unknown endorser.

But this doesn t mean that you can let your customers do the marketing for you. According to an infographic by Referral Candy, 83% of satisfied customers are willing to recommend good products and services to friends but only 29% of customers actually do. The role of marketers, therefore, is to deliberately influence this process by including it in their marketing plan.

When should you ask for referrals?

Asian-coworkers-chatting-over-coffee

Explicitly asking your customers to tell their friends about you can make the difference between bigger sales and stagnant revenues. However, you don t want it to come across as a hard sell. Rather, you must wait for the right timing to pitch your request. Asking your customers to take part in referral marketing would best work in these instances:

•     When signing new customers. There s a valid reason why you re generating new customers. Why not ask them to share their customer experience with their personal networks?

•     When you get high service ratings. This is an obvious sign that your customers love you. A little encouragement would convince them that your performance is worth sharing.

•     Right after customers used your products. Gain insights into what your customers actually feel about your services, and encourage them to tell their friends.

•     When you hear them say nice things about you. If they re already doing talking about your brand, you only need to point them to your target audience to help you get new customers.

Remember that subtlety is key in making this business strategy work. Otherwise, customers might think you re only getting in touch with them for advertising purposes.

What do you need to make it work?

To make this work, your entire firm s infrastructure should support your marketing plan. Among the features you ll need for an efficient referral marketing program are the following:

•     Transparency. Remember that your customers have to fully trust you before they refer you to people they personally know. It would help a lot if you can be honest and open to queries and feedback as much as possible.

•     An efficient referral program. To make matters more organized, devising a process flow to visualize your referral system would foster understanding between you as the brand and your customers as brand ambassadors.

•     Sharable online content.There s a huge chance your name will go viral if you allow your content to be accessible and sharable online.

•     Great customer service. This is the starting point of all successful businesses. Sure, people talk about poor client relations, but they also notice those who strive to deliver a pleasant customer experience.

As a business strategy, referral marketing is among the most effective ways to grow your community as you attract new customers and boost sales. You probably already have a lot of advocates willing to personally endorse your brand, so don t hesitate to put the word out there and get the ball rolling.

Faith is a digital media enthusiast aiming to become an active part of the tech world by sharing her insights. She likes to blog about everything digimarketing, technology, and social media.
JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO18 hours ago
Compared to most industries, #CallCenters are known for providing a fun and positive workplace for their employees.

But more than just making daily ops light and dynamic, the agents, the contact center, and the clients benefit from this: https://buff.ly/3kIaKWM

----------
Let's hyper-customize a program for your brand's goals, needs, budget, and customer demands: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#CustomerService #EmployeeEngagement
Open Access BPO
Open Access BPO19 hours ago
Keeping your customers' data secure is one of the best ways to earn their trust.
Here's an in-depth look on how it can be achieved: https://buff.ly/3HjQYIK

----------
Only trust an #outsourcing firm with a robust #DataSecurity strategies and solutions to ensure #InformationSecurity: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#cybersecurity #infosec
Open Access BPO
Open Access BPO5 days ago
#𝗗𝗮𝘁𝗮𝗣𝗿𝗶𝘃𝗮𝗰𝘆𝗪𝗲𝗲𝗸 aims to raise awareness about #DataSecurity and privacy and how we all must be mindful of what we share online. Let's stay vigilant against malicious activities that may exploit our information.

#WeSpeakYourLanguage
#InfoSec #DataPrivacy
Open Access BPO
Open Access BPO6 days ago
#CustomerService providers have the responsibility to protect their partners against data intrusions that may interrupt operations and steal sensitive information. If your

Check out these best practices for protecting your data: https://buff.ly/3Jj7cEV

----------
Ensure utmost #InformationSecurity for your customers with our #DataSecurity strategies: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#InfoSec #DataManagement
#DataPrivacyWeek
Open Access BPO
Open Access BPO7 days ago
As a global #outsourcing hub, offshoring to the #Philippines has been recognized as a winning business strategy. But one of the things you should also consider is the security of the data you will be sharing with your chosen outsourcing firm.

Here's how you can keep your customer's trust even when their data is with a third-party company: https://buff.ly/3GY1jKm

----------
Only trust an oustourcing firm with a robust #InfoSec aimed to protect you and your customers: OpenAccessBPO.com/get-started

#WeSpeakYourLanguage
#InformationSecurity
#DataSecurity #InfoSec
#DataPrivacyWeek
Open Access BPO
Open Access BPO7 days ago
Located between Hong Kong and Mainland China, 𝗧𝗮𝗶𝘄𝗮𝗻 is a strategic location for businesses wanting to reach large Asian markets. Global economic surveys regularly recognize Taipei's investment-friendly business landscape.

Build your brand's East Asian presence with our diverse and highly qualified team of native 𝑴𝒂𝒏𝒅𝒂𝒓𝒊𝒏, 𝑪𝒂𝒏𝒕𝒐𝒏𝒆𝒔𝒆, 𝑱𝒂𝒑𝒂𝒏𝒆𝒔𝒆, 𝒂𝒏𝒅 𝑲𝒐𝒓𝒆𝒂𝒏-speaking professionals.

𝗘𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵 𝗮 𝘀𝘁𝗿𝗼𝗻𝗴 𝗯𝗿𝗮𝗻𝗱 𝗽𝗿𝗲𝘀𝗲𝗻𝗰𝗲 𝗶𝗻 𝗘𝗮𝘀𝘁 𝗔𝘀𝗶𝗮 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗢𝗽𝗲𝗻 𝗔𝗰𝗰𝗲𝘀𝘀 𝗕𝗣𝗢 𝗧𝗮𝗶𝗽𝗲𝗶: buff.ly/3WtmoSM

----------
𝗘𝘅𝗽𝗹𝗼𝗿𝗲 𝗢𝗽𝗲𝗻 𝗔𝗰𝗰𝗲𝘀𝘀 𝗕𝗣𝗢
• Our Solutions: https://buff.ly/3kFl5Te
• Our Other Locations: https://buff.ly/3WpOYo5

#WeSpeakYourLanguage
Open Access BPO