See How Many Referrals You Can Get
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Why Referral Programs Are The Most Valuable Form Of Marketing
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Want To Get Referrals? Read this...
Kirsty says that if you want to get referrals, these are some methods you can use:
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Start by providing exceptional service to your customers: the best way to get referrals is to create an environment where people are happy to tell their friends about their great experience with your business. A happy customer is probably the most valuable asset any marketer has, so work hard to create happy customers.
This one is simple but often overlooked - ask for referrals: Don't be afraid to ask your happy customers for referrals. You can do this in person, by calling them, by emailing them, or by promoting them to refer on your website or in your app. Be sure to explain to the person referring how it will benefit the person they recommend you to - so that they feel comfortable. If you want to get referrals, you have to get comfortable with asking!
Know that it’s all about the offer! If you want to get referrals, then you need to make sure your referral program has a strong offer (good referral software will push you to include an offer). This could be in the form of discounts, free services, or other perks if the person being invited decides to follow their friends recommendation and become a customer of your business. Offers will make sure you get more referrals than ever before, referred people trust your business already (because they were referred) and now they have a strong incentive to try your business too. Offers also make the person referring much more comfortable to recommend your business to their friends. If you want to get referrals this is the number one tactic you have to include in your referral program.
Use social media to promote your referral program and get referrals: Use social media platforms like Twitter, Instagram, Tik Tok, and LinkedIn, to promote your business and ask for referrals. You can also join closed groups related to your industry and engage with the members in the group to ask them for referrals. Another way to get referrals is to collaborate with the social groups admins, and offer them rewards to refer their group members.
Referral marketing is an extremely powerful way to grow your business, all you need to do is - ask for - and - get referrals. It may take time for your referral program to grow, but it will definitely be worth it in the end when you manage to turn one customer into two through referral marketing. Use this referral calculator to estimate your ROI.
How Referral Program Software Can Help You Get Referrals
These are just a few ways that great referral program software can help you save time, make money, and get referrals:
Automate asking your customers to refer friends: great referral program software has built in tools that make it easy to ask your customers for referrals. You can generate referral links for your customers, create pages where people can register to refer their friends, and even install widgets and embed codes on your various platforms to prompt people to refer.
Using referral program software will make managing your referral program more efficient. Streamline the process of getting referrals and setup automations to send your new referred customer straight into the workflows you already use, this can be any tool you use to manage your leads - like HubSpot, Pipedrive, Intercom, Salesforce, Zoho, Stripe, and more.
Track and monitor the performance of your referral program using advanced referral tracking: see which of your referrals are converting (when you get referrals), track who your top referrers are, understand what channels people are referring their friends on, etc.
Easy ways to communicate: referral program software makes it easy (and automated) to communicate with your referrers. From asking them to share their auto generated referral links, to issuing rewards and incentives for successful referrals.
Increased efficiency and get more referrals: by reducing the time and effort required to manage referrals manually, you can increase your sales teams efficiency so they can focus on more important tasks. If you get referrals every week, it will be important to have an efficient referral management system to streamline the process.
Leverage the power of word of mouth by launching your referral program today, use Referral Factory as your customer referral software to help you get referrals and grow.
How many referrals can you really get?
Referral marketing experts have built models that help you accurately estimate how many referrals you can get when you ask your customers to spread the word. You can use our referral calculator, or you can estimate using the ‘on average’ model we present to customers that are looking to understand what the ROI of launching a referral program will be for their business.
You can assume that every year, around 30% of your customer base will become active in attempting to refer friends. This number is only possible if you have a great business, that your customers love and want to talk about. Remember that people will only refer their friends to your business if they feel comfortable that your business is reliable and delivers value.
Of the 30% of your base that becomes active, you can estimate that they will generate around two leads each year for your business. Some more, most less, but on average you can estimate that everyone will generate two leads a year. So that means:
If you have 100 000 customers in your base, around 30 000 will refer, and that can generate 60 000 new leads for you each year. Of course not all of those referred leads will convert into paying customers but you can expect a higher than average conversion rate when it comes to referred leads - because these leads come from recommendations, meaning trust is already built in. Trust is the number one currency you need to get referrals and grow your bottom line.
Scroll up to the top of this page, and use our referral calculator to estimate how many referrals you can get - if you use our referral program software to ask your customers to refer their friends.
And remember - in order to get referrals, you have to ask for referrals. It won’t happen automatically you’ll need to continuously ask for referrals and ensure that you have a great reward and incentive to motivate the process.
