Why Does Referral Marketing Matter!

Why Does It Matter?

Referral marketing is vital for businesses, professionals and service providers that want to be successful and realize growth. It is even important for companies that just want to retain their current level of business and customer satisfaction levels without expanding too much.

The reality is customers move away, lose interest or otherwise drop off the radar. Replacing them through referral marketing is an effective way to maintain a steady flow of business with clients who are pre-sold on products or services. In its most basic form, it puts a strong emphasis on customer service, which is an important facet of any business operation.

When referral marketing is personalized, hands-on and designed with an eye toward relationship building, businesses often realize a few very big benefits right away. These include:

? Better customer relations - When an emphasis is placed on building relationships in business, customer service benefits. If the message comes from the top down, the effects can be quite lucrative. Treat customers as people instead of numbers and they will notice and respond.

? Repeat business. Clients are more likely to return to a business for repeat service if they feel like they have a rapport with the people behind the scenes. When companies use referral marketing to build trust, customers do return.

? Sense of ownership. When relationship-based referral marketing becomes a part of a company's fabric, customers and clients feel a sense of connection and even ownership over the business or professional. Rather than call an accountant simply that in conversations, clients begin to describe professionals they feel connected with differently. The accountant becomes "my accountant." The sense of loyalty and enthusiasm rubs off on others who hear the recommendation, often prompting them to pick up the phone when service is needed.

? Up-sell benefit. If an insurance salesperson develops a relationship with a car insurance customer, that person is likely to return when future needs present. For example, one well-treated auto insurance policy owner might come back for life insurance, health insurance and even homeowner's insurance down the road rather than seek a different agent to handle those policies.

? Excited referrals. Let's face it; most businesses face a lot of competition from others that sell exactly the same products or services. When a business makes itself stand out by treating its clients or customers like they truly matter on a personal level, they set themselves apart from the crowd. The referrals that result from this type of relationship are excited, genuine and very motivating.

? Improved sales. When marketing efforts pay off, the bottom line shows it. If present customers are retained and new ones are constantly generated, business balance sheets tend to run in the black. Effective referral marketing has helped some business experience positive sales growth in the 200% to 300% range and even more. If the right measures are taken, the results can be enjoyed with very little investment of time or money.

If you would like to download my Free eBook on referral marketing please contact me at: http://www.beyondinaction.com/ask

To your success,

Juan Rezk
Beyond Inaction