How to Make the Best Referral Program for Your Business in 4 Easy Steps
Referral programs have been around almost as long as businesses have. From the good old word-of-mouth recommendations to the trendy social media shares, this strategy remains relevant in the marketing industry. Whether you’re just starting an online business or growing a family-owned establishment, referrals ensure a steady stream of customers for your company.
A study has revealed that 69% of businesses with referral programs can close deals faster than those without. The question is – how do you get your customers to recommend your services? How do you turn passive product users into active brand advocates?
Here’s how to make the best referral program for your business in 4 easy steps:
Be transparent about how the program works.
Trust is a currency in business. In referral programs, its value rises even higher. That is why you must ensure that your referral program is transparent from the get-go. Whether you write about it on your website or explain it to your in-store customers, make sure to clarify the following:
- How the referral system works
- What information your advocates need to submit
- How the submitted information will be used
- Who will contact the referred prospects
- How and when the advocates can receive rewards or updates
Discover what prevents people from recommending your products.
A study has revealed that out of 83% of consumers who are happy to recommend a brand, only 29% actually do. There are various factors that hold people back from endorsing a product that they enjoy. Some of these roadblocks include lack of communication from the company, not knowing who or how to refer, and hesitation to give personal information.
Conduct a survey to uncover the specific reasons that keep your customers from recommending your products. Once you find out the issues, you can address them specifically and eventually remove them from your path.
Find a reason and create a strong headline about it.
Consider your repeat customers, the ones who give you glowing reviews on social media, and the ones who happily email you to thank you for a swift transaction. These clients are proof that people are willing to endorse your brand.
Now, you only need to give them a little push as to why they should. Is there a holiday around the corner? Are you introducing a new line of products? Once you find a reason, it’s easy to create a strong, attention-grabbing, action-inducing headline about it. Of course, you can work with a content writer VA (virtual assistant) to help you come up with a catchy headline and powerful content.
Have a referral page FAQ.
Your website is your 24/7 brochure that educates existing and would-be customers about your business. It’s only fitting that it should contain an FAQ page regarding your referral program.
This will encourage your website or blog visitors to invite their friends, serve as a reference for your current advocates, and even operate as a landing page for when you promote your referral perks in your social profiles.
Expect your clientele to grow now that you know how to make the best referral program for your business in 4 easy steps.
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