How referrals can increase lead generation
Apr 29, 2022
To succeed and grow your business, you need to care for your current and prospective clients. With the right nurturing, a lead can become a long-term client. We’ll bring you a series of marketing content designed to generate more leads to help you continue cultivating your client base in the coming months. This month we will be sharing the importance of referrals.
A referral is when someone in your network — friends, family or clients — recommends your business to a prospective client. At times this happens organically during conversation or through a referral marketing program. According to Social Media Today, referrals are rated as the 2nd highest source of quality leads by marketers.
What are some ways to increase your referrals?
The first step is to ask
Does a current client have anyone they know that could use your services? Look through your social media comments and find clients talking about your business or giving you a great review. The key is to ask for the referral right away while they are still excited about your interaction.
Creating an email campaign
Executing a campaign after a sale is closed is a great way to initiate the referral process. Also, build a referral page on your website and add the link to our email signature. This way, you can continue to ask for a referral without being pushy.
Don’t settle with I’ll get back to you
If they tell you they will get back to you, follow up. Create an email that thanks your new client for their business and ask them to refer you to others if they are happy with your service. You can also follow you with the long-term clients and ask them to refer you to others in their network. Check in occasionally, offer suggestions and tips to help them and ask about the referral to remind them that you haven’t forgotten.
Get LinkedIn savvy
Use LinkedIn to find connections. When you’re prospecting, see if any of your clients have connections with contacts at a prospective organization. Then, you can ask for an introduction and avoid a cold call.
Offer referral incentives
In some instances setting up a referral program that provides an incentive for your current clients is a great way to help generate leads at a lower cost than other channels. 39% of consumers believe direct incentives such as money, discounts or free swag increase the chances of referring a business. One popular way to incentivize your clients is to offer a gift card for each referral or for referring a set number of people. A gift card to a local business is a great way to thank your clients, and it also helps out other area businesses.
Once you receive a referral, reach out to the client that sent the prospect your way. Let them know that you appreciate their business and for sharing their experience with their network.
Stay tuned for more tips on increasing your leads in our next article.