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6 Ways to Ramp Up Your Referral Marketing

26 Aug 2013 Leave a Comment

by Becky in increase business ideas Tags: , , , , , , , ,

It’s no secret that one of the best ways to grow a business is through strong referrals. Whether these referrals come to you through a system you have in place or because of the solid reputation your business has built over the years, each referral is a precious gift. You have one chance to turn this opportunity into a client who will in turn refer others to your business.

If you drop the ball in some way, not only will you lose this chance for new business, but you could also discourage others from referring business to you. Therefore, you must handle these warm leads with extreme care. Here are six key steps to consider as you guide a referral into becoming a real customer.

    1. Respond quickly. Nothing will stop a referral process faster than slow response and showing a lack of urgency in communication. Lead360 conducted a study of 25 million data points which showed that successful conversion rates are 391% higher when a lead is called back within a minute, 120% within two minutes, 98% within three minutes, 62% in under thirty minutes, and 36% in under an hour. Clearly calling back and following up with referrals quickly is the first and most important part of the process.
    2. Gather information and qualify. Once contact has been made, it’s time to gather any necessary information to make sure there’s a good fit between what the referral is looking for and what you can provide. Having relevant, open-ended questions to ask will help you find what you’re looking for while at the same time establishing your expertise in helping solve client problems. This is the time to develop insight into the scope of the opportunity and key factors.
    3. Be the expert. Once you’ve established that the referral is a good fit for your business, it’s time to do your homework. You must spend a little time to learn about the referral’s business. The more you learn about what your prospect is looking to solve, the better you can prepare a solution. This in turn will position you as the expert who took the time to present a customized solution when your competitors offered a generic, cookie-cutter bid.
    4. Make your offer stand out. The best way to make your offer stand out is by adding value. People like to buy, but they don’t like to be sold to. You can add value and help your offer stand apart by helping a referral evaluate your capability and see their problem clearer. Relevant, simple, and insightful information that helps your prospect will lead them to buy much more readily than if they feel they are being sold to.
    5. Use technology. As great as your memory may be, relying on the old pen-and-paper system is just asking for trouble. The way to truly systematize the referral process is by using a CRM system that can help you track your referrals. Determine if the software will help you give the prospects the experience you set in your action plan. But remember that technology can only go so far. Sure, it can help you manage the referrals, but converting those leads into customers takes the human touch that only you can provide. There are two great popular programs,   SAGE ACT  http://www.act.com/   and SalesForce  http://www.salesforce.com/
    6. Create a powerful experience. Turning a referral into a client can be as simple as contacting them quickly with information they’re seeking. However, the real secret to make them truly want to do business with you on a consistent basis is to create a “wow” experience. Your “wow” experience doesn’t have to be complex.
      Building it can be as simple as: 
      • Responding to inquiries within 30 minutes
      • Offering a small gift or thank you note for contacting you
      • Sending a small gift or thank you to the person who made the referral
      • Delivering a professionally prepared, customized solution with clear information
      • Following up after the sale to answer any questions
      • Being persistent without being a pest

Turning referrals into customers is not an act of magic or accomplished through luck. It’s done by developing an action plan and by implementing the plan. Keep track, stay organized, and monitor the process. Referral marketing can be a gift that keeps on giving, but only if it’s treated with the care and respect it deserves.

Innovate, Don’t Imitate

24 Mar 2013 Leave a Comment

by Becky in increase business ideas Tags: ,

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One of the most effective ways to keep a competitive edge is to think like a prospective customer and compare your business frequently to your competition. What does your competitor offer that your business does not?

While it’s helpful to stay informed of what your competition is doing, you should avoid copying their ideas. Rather, if you see a good idea that you’d like to implement, find a way to add more value and make it an even better idea. For example, if your competitor offers free shipping on purchases of $100, you could provide free shipping on all purchases and possibly even returns, which removes potential risk when placing an order.

If your competition sells a comparable product, an easy way to add extra value to your business is through service. Whether you have longer business or customer support hours, free shipping, a better warranty, free training, or live phone operators (no automated phone service), it’s often these types of value-ads that really stand out when customers compare businesses.

Another great way to gain customer perspective is with a customer survey or questionnaire. Ask your audience how you can improve, what new offerings they wish you provided, and what they like best about your company. Their answers could easily point to innovative ideas that will give you a competitive advantage.

Think Small!

30 Sep 2012 Leave a Comment

by Becky in increase business ideas, Inspirational, Marketing TIPS

For many years, “think big” has been the theme for many businesses, as they try to compete in a sea of retail giants. However, the tables are turning, and large organizations realize that their audience is looking for more personalized, customer-focused attention, causing businesses to “think small.” Here are a few ways to leverage your natural small business advantages in your marketing efforts:

    • Personal attention. Small businesses are more likely to recognize their customers and provide sincere, personal attention, without customers feeling like they’re just another number in the company’s statistics.
    • Industry experts. Many small businesses develop a narrow market focus and develop a premium reputation for serving that niche market effectively.
    • The power to change. While large companies generally take several months to change company policies, small businesses usually have the ability to make decisions on the spot and implement changes quickly when they feel it is appropriate.
    • Flexibility. Small businesses are more willing to work with customers and do whatever it takes to earn their business, including filling customized requests at a moment’s notice.
    • Customer satisfaction. Because it takes more effort for a small business to build a strong customer base, they also work harder to keep their current customers happy.

When it comes to marketing, don’t hide the fact that you are a small business. Instead, take the opportunity to promote it proudly and show customers the many advantages of thinking small.

Start Spreading the Word About Your Full Product Line

30 Sep 2012 Leave a Comment

by Becky in increase business ideas, Marketing Tags: , , ,

If your marketing focuses too sharply on just a few key products or services, your customers may be unaware of your additional offerings…and you may be missing out on a great deal of potential revenue. Here are a few ways to spread the word about your full product or service line:

    • Create a monthly or quarterly product spotlight postcard campaign that highlights various products or services, including a tearaway coupon as an incentive to try.
    • Distribute product and service overview flyers or brochures with every purchase, either by inserting them into the purchase bag or stapling them to the receipt.
    • Include a Q&A section on your website that provides additional details about your various products and services.
    • Give new customers a three-ring binder welcome packet, and periodically send them new product pages or updates that are three-hole drilled to update their binder.
    • Publish a blog and offer regular tips and articles that help customers get the most out of your products.
    • Offer a product catalog with in-depth product features and highlights.
    • Highlight a different product or service in your email tagline every month, with a reminder to check your website for more details.
    • Cross-sell or up-sell your products to increase revenue by bundling items together, suggesting complementary items, or including customer testimonials that recommend some of your lesser-known products along with your more common offerings.

Help Sales Soar with Flyers

30 Sep 2012 Leave a Comment

by Becky in increase business ideas, Marketing, Marketing TIPS, Products, Uncategorized Tags: , , ,

Flyers are a very flexible, cost-effective, and efficient way to spread the word about your company, promote or introduce your products, announce special price promotions and events, or simply educate your audience. Here are a few ways to increase sales by maximizing the use of marketing flyers:

    • Add a flyer to every mailing that leaves your office. Include them with bills, statements, information requests, and marketing campaigns.
    • Fold your flyer, affix a label or seal, and send it as a self-mailer to your marketing database. (We can also do the mailing for you!)  AND take advantage of the new postal service called Every Door Direct Mail (EDDM) the postage is around .145 cents each, give us a call and we can tell you more  about it. For non-profits, the price can be as low as .07 cents each!!
    • Hand flyers out at trade shows, promotional events, and other industry-related affairs, not only at your booth, but also while walking around and visiting.
    • Post a flyer on community bulletin boards, such as those found at laundromats, gyms, apartment complexes, senior centers, public libraries, local schools or college campuses, grocery stores, and the like.
    • Check with local newspapers or magazines to learn their policy and costs for including flyers as a marketing insert.
    • Ask other local businesses such as cafes, auto body shops, salons, clinics, and bookstores if you can leave some flyers in their waiting/reading area.
    • Consider hiring high school students to pass them out door to door or to local businesses.

If you’d like help creating eye-catching flyers that get noticed and produce results, drop us a line.