{"id":9522,"date":"2021-03-18T13:58:44","date_gmt":"2021-03-18T13:58:44","guid":{"rendered":"http:\/\/kirstysharman@gmail.com"},"modified":"2025-04-21T13:56:59","modified_gmt":"2025-04-21T13:56:59","slug":"how-to-grow-your-small-business-by-6-24-using-your-own-customers-3","status":"publish","type":"post","link":"https:\/\/referral-factory.com\/learn\/how-to-grow-your-small-business-by-6-24-using-your-own-customers-3","title":{"rendered":"6-24% Growth: Interested In How To Grow A Small Business?"},"content":{"rendered":"\n

Customers are the lifeline for small businesses. Yet the #1 challenge facing small businesses is finding new customers while retaining your existing ones.<\/p>\n\n\n\n

To make things even more challenging, small businesses have to also compete with big conglomerates with large budgets and strong brand awareness, making it harder to break through the market and be able to grow a small business.<\/p>\n\n\n\n

So how can you as a small business owner reach your audience, get new customers and retain existing customers without the budget of a conglomerate? <\/p>\n\n\n\n

Referral marketing!<\/p>\n\n\n\n\n\n\n\n

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Simply put, Referral marketing uses the power of word of mouth to spread the word about a product or service through a business’s existing customers. Here’s how it works. <\/p>\n\n\n\n

Take John\u2019s Lemonade for example. John believes that as soon as people try his lemonade, they will love it! The problem John has is that his target audience hasn’t heard of him yet and they are currently buying their beverages from Coca-Cola. Instead of trying to compete with Coca-Cola, John visits a local business park and gives samples of his lemonade to employees He then tells each employee that if they refer one friend to buy John\u2019s Lemonade he will reward them with free lemonade and the person they refer will get their second lemonade free.<\/p>\n\n\n\n

By implementing a referral program<\/strong><\/a>, John was able to do three things:<\/p>\n\n\n\n

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