The Secret to Referral Marketing Success

commitment, timeReferral Marketing is probably the single most cost-effective way to generate new business. Most business owners can agree that this strategy typically involves a low hard-dollar cost. And yet here is a puzzling fact: Most business owners do not leverage the power of this marketing tool. Why not?

It Takes Commitment

Why don’t business owners use Referral Marketing to grow their businesses? The answer is commitment. A successful Referral Marketing strategy calls for a commitment from you as the business owner. You see, while referral marketing has a low cost, some referrals strategies can be quite time consuming. A business owner must be committed to giving it some time!

Devote Time and Effort

You as the business owner must devote a certain amount of time and effort to building relationships with existing customers and clients. In fact, only the combination of time and effort will pay off in increased referrals. For most people, Referral Marketing is a whole new way of doing business. Many business owners are reluctant to try a different approach. Tweet This

An Easy Decision

As a business coach, I take practical steps with my clients. I encourage my clients to consider what it costs them to buy a customer. In order to know this, they must begin to track and measure everything they do in marketing. Once they do, it is usually easy for them to see that a referral strategy is one of the best ways to introduce new customers to their business. The bottom line is this: You must make a commitment to spend time with your best clients and referral sources. You must invest time in building those relationships. You must train them, coach them, prime them, encourage them, and reward them. If you do these things, I promise your effort will pay off with great results!

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