Before social media, referrals were a much slower process. Programs existed to increase these but none were ever the prime focus of any company’s marketing department. Then, sometime in the early 90s when the internet proved to be more than just a passing fad, companies realized just how quickly their referral programs could grow through the use of their loyal customers. Since this defining moment, millions have been poured into finding the perfect solution to boost referrals.
It’s Not a One Time Thing
Before revamping your entire marketing department, it’s crucial that you understand that how to boost your referrals is not something you do once and forget about. It is an ongoing process that, when implemented correctly, should become a component of the daily routine. One big push is great for a surge in numbers, however this surge is completely unsustainable unless you’re willing to put in the time and resources necessary for continued upkeep. You know a referral program is running correctly when it brings in a relatively steady stream of new clientele every quarter.
It Provides You Data You Need to Use
Let’s now assume you have a cyclical referral program in the works. Every quarter, you bring in new people along with new data tracked by customer reference software. While great for steady quarterly increases, you do your company a great disservice by not utilizing the data you’ve captured to build on this to see even further upswings. Including regional marketing information divided by race and age as well as foolproof ways to track exactly which campaign led to a decrease in numbers, the power information gives you is limitless so long as you take the time to analyze it and use it to your advantage.
You Have to Give a Little to Get a Little
Otherwise known as tit for tat, information doesn’t come free, especially when it’s information about family and friends. The bigger the reward, the more interested the customer base will be to give you referrals. In this case, you can use the prize as a way to up participation during low months and keep it steady during really great ones. It’s your tool to both boosting and keeping steady. Be aware of your competitors, though. While you may have some great ideas, it will count for nothing if your biggest rival begins offering more to get less. Do what you can to stay competitive but otherwise force yourself to think outside the box.
Upping customer referrals is a time honored practice that has only become more important with the rise of technology. Make sure your company doesn’t fall behind by recognizing the process for what it is. When taken at face value and used to those purposes, you’ll be able to discover a phenomenal process that keeps your business on the rise.