Share this post So you’ve just started your new business, and you are doing everything right. You’re using the best tools, you’re creating amazing content that gets shared on social media, and you’ve even built up a solid list of potential customers. But what about the last step in the sales funnel – the referral marketing part?
What is referral marketing?
Referral marketing is a kind of marketing that is used to promote your business by using existing customers as a source to find new ones. In other words, when a customer recommends your product or service to another customer, they are referred to as a referral. The best thing about referral marketing is that it builds trust between customers and helps them to trust the company. This is the reason why it is called as the ultimate guide to refer people. There are several types of referral marketing and the most popular one is known as word-of-mouth marketing (WOMM).
WOMM refers to the process of generating referrals for a company’s product or service by word-of-mouth. This type of marketing usually requires a high level of trust and credibility in order to work. However, you can use different techniques to make your business more trustworthy and credible.
Word-of-mouth marketing (WOMM) Strategy
Here are some ways that you can create a WOMM strategy for your company.
Build a Reputation
Build a Reputation Reputation is important when it comes to building a WOMM strategy. Your company should have a good reputation in order to be able to build a strong WOMM campaign. You can use a number of different methods in order to gain this reputation.
- You can ask your clients about your company. You can ask your peers about your company.
- Use Social Media As mentioned before, social media is a great way to promote your company. You can use the same methods that you would use for a regular marketing campaign. You should post on Twitter, Facebook and LinkedIn. You can also create an Instagram account. These social media platforms are great because they allow your company to reach a much larger audience than you could by advertising in a newspaper or magazine.
Referral Marketing Tips
Here are some effective tips for you to get maximum business through WOMM.
Having a loyal customer base is one of the best ways to start a successful referral marketing campaign. It will help you to generate a good number of customers and keep them for a longer period. So, don’t just focus on new customers, but also on your current customers and ask them for referrals.
Create an email list It is very important to have an email list because it allows you to send personalized emails to your clients. As a matter of fact, if you have a loyal customer base, then you will easily get more business because they will also share their experience with other people.
Tell them about the benefits of your product or service When you have a loyal customer base, they already trust you and want to share their experience with others. So, tell them the benefits of your product or service, what makes it unique from other products and how it can make their life easier. This is the best way to encourage them to spread the word about your company.
Give them a freebie When your customers are happy with your service, they will try to share their experience with their friends and family members. So, they will not only share the experience with their friends, but they will also ask them to refer your company. If you have a loyal customer base, then your friends and relatives will be willing to refer your company for a good price.
Keep them updated You have to keep your clients updated about new products, services, discounts and offers. So, it will help them to refer your company as they will get more offers and discounts from your company.
Conclusion
Referral marketing is a kind of marketing that is used to promote your business by using existing customers as a source to find new ones. The best thing about referral marketing is that it builds trust between customers and helps them to trust the company. There are several types of referral marketing and the most popular one is known as word-of-mouth marketing (WOMM) WOMM refers to the process of generating referrals for a company’s product or service by word-of-mouth. Follow these tips and you will get more business within a short period of time.