How To Create An Amazing Referral Program

Kinley

Referral programs are an effective way to create positive growth for your company. By implementing a referral guide, you can grow your customer base and your revenue. In order for a business to grow, a company has to bring in more revenue. While seeking investments and upgrading current customers creates cash flow, the best way to grow revenue is to grow your overall customer base.
  
There are several ways to do this. Many businesses rely on outbound techniques such as email and cold calling in combination with inbound marketing tactics such as SEO europe mobile number list and advertising. These tactics can be highly effective if done properly. However, what many businesses miss out on is the power of referral-based customers. According to a survey conducted by Nielsen.com, 84% of the global respondents said word-of-mouth referrals were the most trustworthy source for buyer decisions.



With an average lead conversion rate of 10%-50%, and more than 83% of consumers saying they would be happy to give a referral after a positive experience, it can be baffling that only 23% of sales people ask for referrals. At Cobalt Iron, an effective referral plan grew our business and improved our employee retention. Here are the key points that this guide will go over to help you create a similarly successful referral program.