Most small businesses can tell you the best way they attract new customers - but most of them aren't taking steps to do so.
Sound odd? Welcome to the sometimes misunderstood - and vitally important - task of generating business referrals. Business consultant Michael Rozbruch polled several thousand small businesses, and 63.4% told him that half their revenue came from referrals. Despite acknowledging their importance, 80% of those companies said they had no system for generating referrals.
That's lots of money left on the table. A sound referral program doesn't have to be hard. Here are six steps to building one:
Kelly Newsome, president of ConnectRoot, a networking platform for people in the financial industry, likes referring friends to her online marketing provider; both she and her friend get a free month of service, and the provider sends her an immediate thank you - which reaffirms her belief in them.
A referral program can work hard to build your prospective customer pipeline. In addition, it's a valuable extension of your customer service, building loyalty among current customers, who view it as a perk. To that end, it makes sense to amplify your customer service benefits in any program description you might create. The Optimum Business Service Commitment, for example, is a promise built on exceptional service. It includes several key benefits, including providing a same-day service guarantee, no annual contract, and 24/7/365 live support plus more.
To learn more about Optimum and how we can help your business, call or chat today
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