The success of a business lies in its intent and the deep relationship it maintains with its stakeholders. And entrepreneurs believe in the power of referrals as studies show that 65% of new business opportunities come from recommendations. In this blog, let’s decipher how your businesses can tap the benefit of referrals from existing customers.
Product On-boarding
When a customer checks your website for a product or service, if they learn that giving the company a referral is the norm, you can give them a great user experience on the website and make use of the interaction.
Principle Of Reciprocity
When you have a happy customer, talk to that person about a colleague or a friend who might benefit from your product or services. It works on the principle of reciprocity. When you do something great for your customers, they will be interested in returning the favor.
Celebrate Success
Remember to celebrate success. Whenever customers benefit from your product or service, celebrate the positive outcome by striking a conversation on that note as a follow-up. It is a means to build a good rapport with your customers as they understand you value them.
Showcase Your Customers
Not every customer may be worthy of recognition. When they are with impressive performances, make it a point to highlight them as a case study on social media or on your website. It can be inspirational and goes a long way in building long-term relationships.
Discounts
Once you have built a strong relationship with prospects, you may offer discounts to them in return for referrals. Usually seen in the SaaS domain, you can persuade your customers with a clause that says so in the contract agreement.
