Growing through Referrals

Referrals are one of the strongest strategies you can use to grow your business and attract more loyal customers. If you don’t already have a referral strategy in place, there is a possibility you’re leaving a lot of money on the table. In fact, according to a recent study conducted by the New York Times, 65% of new business opportunities come from referrals and recommendations. Why is that? Customers trust recommendations they receive from people they know.

You can also be missing out on one of the best opportunities you’ll have to increase your customer base by utilizing some of the most loyal customers you already have. When they refer other people to your business, the new customers you generate will become just as loyal, giving you even more opportunities in the future.

There are couple of different ways you can generate more referrals for your franchise. The two most popular forms of referrals are word-of-mouth and partner referrals:

1. Word-of-mouth referrals

The first way to encourage word-of-mouth referrals is the easiest: just ask. You have to remind people of who you are and all that you do. Happy customers, usually will spread the word of your great services, which can potentially turn into a future customer. When you have a happy customer, simply ask them to tell their friends and colleagues about you. Secondly, asking for a written testimonial about your services and their experience will also further enhance your chance of receiving word-of-mouth referrals.

2. Partner referrals

A second way to get referrals is to partner and network with complementary businesses and clients. The best way to get referrals is to give referrals. Refer people to your clients. People who make the effort to connect with others for business opportunities are the ones who are referred the most. Give and you shall receive!

Unsure of where to start? Contact your local Regional office for guidance on how to get referrals.