How small businesses can create customer referrals

Post on 14-May-2015

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When start-up businesses are looking at effective, low cost forms of marketing, customer referrals stand out as one of the best. You may only have a handful of customers to begin with, but they can quickly become your very own marketing team if they’re impressed by the services or products you have to offer, and if you have a good referral program in place to incentivise recommendations. Word-of-mouth marketing is still a very powerful tool, and personal recommendations are a fantastic way to attract new customers.

transcript

By Startup Success

Effective, low cost marketing through …

Customer Referrals

3 Key Steps

customers

Even if you have few

can be effective

1 2 3Create Value

Provide

Tools

Promote and Track

Step

Step Step

1Step

ONE

ValueCreate

for both parties

REWARD …

… Existing Customer

… New Customer

Different for each

BE REALISTIC

Not effective if you

bankrupt yourself

Free gifts or additional services …

… are better than

discounts

CREATE VALUE

2Step

TWO

Provide

TOOLS

Set clear rules

Tier rewards for multiple referralsProvide

marketing materials

ATTRACT CUSTOMERS

TOOLS MAKE IT HAPPEN

3Step

THREE

IF YOU DON’T ASK YOU DON’T GET

PROMOTE

KEEP RECORDS

TRACK

REFERRALS WORK BECAUSE THEY ARE

CREDIBLE

REFERRALS = QUALIFIED LEADS AT VERY LOW COST

STARTUP SUCCESS

WWW.STARTUPSUCCESS.CO.UK

@SUCCESSSTARTUPS