Companies Overlooking Referrals as Advertising and marketing Supply to
TORONTO, Sept. 27, 2021 (GLOBE NEWSWIRE) – Husam Jandal, internationally recognized business and marketing consultant, says that small and medium-sized business owners should make one small change to their marketing strategies: ask for recommendations. By making this simple pivot a priority, companies get a boost at every stage of the customer journey. For details on creating a comprehensive referral strategy, see his free marketing guide, “How to Use Customer Referrals to Grow Your Business”.
“Companies starting out in digital marketing often want to get into things like ads and content,” explains Jandal. “These are good ways to get new customers, but they shouldn’t be approached at the expense of a solid customer referral strategy.”
Jandal relies on McKinsey research which shows that up to half of all buying decisions are based on word of mouth. Additionally, referred customers are 25 percent more profitable in the first year, have an 18 percent lower churn rate, and 16 percent higher lifetime value, according to Wharton data. The guide also states that 87 percent of satisfied customers recommend new customers when asked. Few companies do, however, and it can prevent them from growing that would otherwise be easy to achieve.
“If you do your business right and care about your customers, they want you to be successful and are happy to support you,” says Jandal. “But they need a nudge in the right direction.”
The business and digital marketing consultant recommends creating a formal referral program that encourages clients to recommend the company to others. Discounts, gift cards, and other rewards can be offered to both the referral source and potential new customers to generate more enthusiasm for the program and increase engagement. Sharing helpful content on social media can also trigger organic word of mouth. Because current customers and advocates like and share it, it is akin to a personal recommendation.
“You need to do your homework before you start so that you know how much each lead and new customer is really worth to your company, and then choose your incentives in mind,” adds Jandal. “It’s also important to stick to it and continue your campaigns to keep an eye on your offers.”
Business owners interested in creating a referral strategy or developing a comprehensive digital marketing plan are encouraged to visit HusamJandal.com.
About Husam Jandal
Husam Jandal is an internationally renowned business and marketing consultant and public speaker with a background who has, among other things, taught Google Partners, trained at the college level, received multiple Web Marketing Association awards, and received rave reviews from companies of all sizes. For more information on his speaking or advisory services, please visit HusamJandal.com.
Husam Jandal |
Similar pictures
Image 1: How to increase your business through customer referrals
Effective customer referral strategies attract and retain more customers and increase sales, but business owners continue to be reluctant to deploy.
This content was posted through the press release distribution service on Newswire.com.
How to increase your business through customer referrals
