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How to Ask for Referrals From Existing Clients (+ Templates)
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“For the most part, people drive referral business because they believe they are making the best recommendation for the job at hand.” Benefits of Customer Referrals For Your Business Customer referrals are a wonderful way to scale your business. The most noteworthy benefits for this type of way of getting business include: Keep a Healthy Pipeline. Most people trust a recommendation from a friend a lot more than any other form of marketing. So having people speaking positively about your business will keep their qualified friends and family coming your way. Lower Your Marketing Costs. Acquiring new customers costs money. In fact, it costs a lot more to acquire new ones than keeping existing ones. You need to invest in advertising, inbound marketing, and technical costs. While these are always a good idea and have a good ROI, word of mouth is free. Plus, when your customers are acting as your advocates, your marketing and sales teams can focus their time and energy into pulling in more qualified leads. Sales teams spend less time on cold calls and more on guiding prospects down their pipelines. Marketing teams can focus on developing more targeted strategies and allocate more resources into those projects. What's more, your business can focus more efforts on your customers and reaching their circle of influence. Build Brand Trust. When someone recommends a business, it’s because they believe in the product or service. It has worked for them in the past, and they would use it again. And when a person hears about the recommendation, they are more likely to trust it than a paid ad. That transfer of trust is important since it's easier to convert a lead that has even a tiny margin of faith in you than it is to convert someone with no opinion at all. What's even more important is that you're able to deliver on that referral. When a friend offers you something and it's actually good, you establish a sense of trust and loyalty in the brand. Increase Your Revenue. A whopping 92 percent of B2B buyers are more likely to make a purchase after reading a trusted review.