83% of customers take referrals from people they know seriously, and 82% of Americans ask for recommendations before making a purchase. Based on these numbers, what’s stopping you from implementing a referral marketing program for your Houston business, especially when, according to a study done by the Wharton School Of Business, companies who offer a referral program can earn 86% more revenue? While we recommend elevating your digital marketing strategy with Houston SEO or social media marketing, we also understand that word-of-mouth is timeless, though more effective when paired with digital marketing. Our Houston marketing agency sees referral marketing as an elevated form of word-of-mouth that doesn’t need to be difficult, so in this article, we will discuss two ways to implement a referral program that generates new leads, increases conversions, and expands your business.
How Referral Programs Help Your Houston Business
If you’re confident that your customers are happy with your product/service, shouldn’t your business be booming? The reason why you aren’t getting enough referrals is simple: your customers aren’t remembering to spread the word because you aren’t asking or reminding them to. A referral program, however, is an easy fix for this that enables you to ask customers to refer you in exchange for a reward. By implementing a referral program, your business will thrive from increased word-of-mouth.
Two Ways To Get More Referrals For Your Houston Business
There are many ways to go about referrals, but here are two general categories.
Customer Referrals
Customer referrals are easy with referral software, which offers several easy vehicles for getting more referrals, such as:
- Social media
- Flyers
Once you’ve decided on your vehicle, it’s time to determine the incentive. The best incentives are those that reward the customer that referred you and the receiving party, such as a “Give $20, Get $20” deal. Another enticing referral incentive is to “Refer A Friend And Get 15% Off”.
Strategic Alliances
Strategic alliances are formed between businesses that can mutually benefit from each other’s clientele and vise versa. For example, Starbucks and Barnes & Noble formed a strategic alliance in which they share the same space, Barnes & Noble provides the books, and Starbucks serves coffee to their shared customer base. As another example, our Houston marketing agency formed a strategic alliance with ActionCOACH in Houston, a business coach that uplifts business owners all over the world. We provide each other with referrals by sharing one deal: if you become a client of INFINI Marketing or sign up for a free website audit with us, you will receive:
- Full day business planning session
- 4 coaching sessions
- 2-hour business diagnostic review of your company
All valued at over $3,000! This deal gives both our companies qualified leads, who can then refer us to their friends.
Referral Marketing For Your Houston Business
If you would like to expand your Houston business with an effective digital marketing strategy, a website audit, a referral marketing strategy, and/or a business coach to help guide your business’s expansion, then please contact our Houston marketing agency. We look forward to expanding your business with you!
