According to Forbes magazine, customer referrals are the “most valuable form of advertising.”
Advantage drafting has learned that referrals are the cornerstone of our business growth, which is why we feel compelled to share some reasons why being referable by your customers is so important.
Even with the hoards of digital marketing practices available, there is nothing quite like referrals to increase sales.
Of course, the million-dollar question is,
How do you successfully secure referrals for YOUR business?
Let’s dive in and discuss!
What Are Referrals?
Referrals come in many shapes and sizes.
However, the main idea behind a referral is that one party will recommend the products or services of a business or individual to another party. For example, a customer may have had a positive experience with the contractor they hired during their home renovation, so they decide to recommend them to their other friend who just recently moved.
In today’s world, businesses sometimes will even offer incentives for referrals by rewarding the referrers and sometimes even the referees as well if these leads turn into sales.
In the same Forbes article mentioned earlier, top-tier marketers noted that referrals were the second-highest source when it comes to generating quality leads.
There is not one business out there without the potential to generate referrals. Without a doubt, word-of-mouth referrals have been extremely beneficial since the beginning of time. A word-of-mouth referral is as good as gold no matter what industry you are part of.
Here is one way to think about it:
When an individual refers a product or service based on their positive experience, they are essentially acting as a salesperson for that product or service. Plus, referrals are typically made between parties that have developed trust with one another.
The beauty of these referrals from your customer is that they often don’t cost a thing for the producer or service provider. However, there is a best, and sometimes only way to have a positive impact on the amount of quality referrals your organization receives. This is by offering outstanding products and services in conjunction with adhering to values you and your ideal customer share.
For this reason, implementing multiple strategies to gain more referrals is crucial to business growth that fuels itself
Let’s look at a few methods you can use to make your business more referable.
Top 4 Most Effective Tactics To Make Your Business More Referable
#1 Ask For a Referral At The Right Time
Most people will ask for a referral when the job is finished.
You send out an invoice and ask for a referral as the cherry on top.
While this might seem like the most reasonable time to ask for a referral, it might not be the most opportune. Here is something to consider. During this time, your client or customer is primarily thinking about how they are going to use your product based on their needs or how much they owe you. In some cases, your client might simply forward the email with your invoice to the accounting department without ever giving the additional content within the time of day.
For this reason, you might find it beneficial to consider looking for more sensible times to ask for referrals.
Look for a time that the client is delighted with your work to ask. Or, if the project requires multiple stages, ask about the referral after the first stage is complete.
#2 Create a Rewards Program
When clients refer you, they usually only do so because they get the feeling they’ve helped a business they enjoyed working with rather than a tangible benefit from doing so.
Of course, many people simply enjoy the feeling of crafting connections within their network. However, it is increasingly the case wherein people are so wrapped up with their work that they’ll forget to send a referral, even if you ask.
However, if you choose to provide your client with some sort of reward for a successful referral arrangement, they might make more of an effort.
In the B2C (business-to-customer) realm, clients often receive discounts, vouchers, or free products for referrals. Beyond that, it is a highly effective way to show gratitude to your clients!
A plumbing supply company for example, could offer a discount on a specific piece of equipment for professional plumbers with a referral to other professional plumbers in the area.
To be referable by your customer, it’s up to you to find a fitting reward that aligns with your values and provides clients with something valuable that they can strive for.
#3 Provide Unique Content
Consider presenting your potential referring clientele with unique content they can share within their network.
With consistent and unique free content, you always have a reason to get in touch with your customer base, keeping your business’ name at the front of their minds, which tends to increase your odds of being more referable. As a bonus, this type of content can solidify the customer’s belief in you as a trustworthy authority figure in your industry if done correctly.
This can be much easier to pull off if you work with clients in similar industries. Here are a few tactics to try:
- Draft up a whitepaper regarding popular trends in your industry
- Invite your referrers to free webinars or seminars where you discuss a topic of interest
- Craft a blog post that explains how businesses like theirs can adapt to change in the industry.
#4 Change Up The Dialogue
Here at Advantage Drafting, we like to present referrals as a favor from our clients.
When our clients receive this message at the right time and know someone who could be a good fit for the drafting services we provide, the messaging can be highly effective.
However, what if you decide to flip the dialogue and remind your clients how much value THEY could get from providing referrals? If one of your clients has other clients they work with, having the ability to point someone in the right direction to a service that can solve that person’s problems can really help them out.
Plenty of businesses thrive on making connections like that, and if you can shift the dialogue to present that type of value, you can set your business up for success.
Final Thoughts – Expand Your Reach by Being Referable
By focusing on making your business referable, you can transform your clients into walking, talking advertisers. These referrals will continue to propagate as long as you make sure to fulfill or exceed expectations.
Here at Advantage Drafting, we’re all about providing quality work and highly dependable service. We even wrote a blog about how we maintain customer expectations! Your customers will “market” for you if you put forth the effort and deliver dependably. The only thing you’ll have to do is seal the deal!
If you or someone you know is looking for commercial glazing or metal panel shop drawings, click here to request a quote from us today or share this post with a friend or colleague. Of course, there’s nothing more we’d appreciate than your referral!
