How to Generate Leads with Referrals
Referrals are the unsung heroes of many marketing programs. They help potential customers gain trust in your brand, help you target customers that are the right fit, increase your reach, and accelerate the speed that leads move through the pipeline.
According to Heinz Marketing, companies with formal referral programs reported nearly two times more leads coming from referrals compared to companies without referral programs.
Johanna Rivard at PureB2B blog has this to say about what makes a good referral program:
A good referral program rewards individuals that bring in referral leads, but what the reward comprises of is completely up to you. Whether it’s a referral fee, a discount on a future purchase, or an account upgrade, these rewards are more cost-effective than reaching prospects on your own.
These tactics can improve a referral program:
- Consider all possible sources for referrals. Referrals can come from a wide variety of people other than current customers. Look to other employees, family, friends or influencers in your space.
- Create a rewards program. As Rivard mentioned above, offering incentives for referrals could help increase your chances of getting them.
While referrals are important, don’t forget the importance of other marketing. Referral programs with monetary incentives could add significant costs to your marketing programs.
Help your referral program without incurring additional expenses by:
- Creating templates to make referrals easier
- Spending time giving referrals
- Dedicating time each day to asking
For a complete infographic on improving your referral program clink the link below.
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