Referrals are a key element in the growth of a business yet very few actively do it. If you looked at how many referrals your current clients gave you in the last 12 months you’d be pretty surprised.
It’s a key number yet most businesses are blissfully unaware.
The quickest way to double your business is to simply ask every customer to bring you another one. You’ve done all the hard work with the first one new customer’s are expensive but referrals give you..
- Lowered marketing costs.
- Referred customers are from satisfied customers and present less resistance to buying.
To increase your referrals there needs to be a focus and accountability, but more importantly there has to be a measure.
- Average number of referrals weekly/monthly
- The number of referral requests or conversations
It’s true what they say that if you don’t ask then you don’t get!
Having referrals as a key number with a measurement as to how your team is performing will increase your business. This form of continuous improvement will uncover business in areas that you may not have considered and easily increase your business by as much as 50% or more.
The real question is will you implement it as knowing what to do and actually doing it are two different things.
The choice is yours!
If you’d like help implementing a referral process and particularly moving YOUR business up the pyramid, then let’s have a chat. Call Mike on 01256 213020 or email me at info@mgretailconsulting.co.uk