TORONTO, Sep 27, 2021 (GLOBE NEWSWIRE) – Internationally renowned business and marketing consultant Husam Jandal says small and medium business owners would be wise to make one small change in their marketing strategies: ask for referrals. By making this simple hub a priority, businesses get a boost at every stage of the customer journey. Details on creating a comprehensive referral strategy can be found in his free marketing guide, “How to Grow Your Business Through Customer Referrals”.
âCompanies that are starting their digital marketing often want to get into things like ads and content,â Jandal explains. âThese are good ways to attract new customers, but they shouldn’t be treated at the expense of creating a solid customer referral strategy. “
Jandal draws on research from McKinsey which concludes that up to half of all buying decisions can be attributed to word of mouth marketing. Additionally, referred customers are 25% more profitable in their first year, have an 18% lower churn rate and 16% higher lifetime value, according to Wharton data. The guide further notes that 87% of satisfied customers will refer new customers when asked. However, few companies do this and it can prevent them from a growth that might otherwise be easily achieved.
âWhen you do business well and take care of your customers, they want you to be successful and they are happy to support you,â Jandal says. “But, they need a nudge in the right direction.”
The business and digital marketing consultant recommends creating a formal referral program that prompts customers to recommend the company to others. Discounts, gift cards, and other rewards can be offered to both the referral source and potential new customers to generate more enthusiasm for the program and increase engagement. Sharing useful content on social media can also create organic word of mouth buzz. As current clients and advocates love and share it, it feels like a personal recommendation.
âYou need to do your homework before you start, so you know how much each prospect and new customer is really worth to your business, and then select your incentives with that in mind,â Jandal explains. “It is also important to stick to it and continue to run your campaigns to keep your offers at the top of the list.”
Business owners interested in creating an SEO strategy or developing a comprehensive digital marketing plan are encouraged to visit HusamJandal.com.
About Husam Jandal
Husam Jandal is an internationally renowned business and marketing consultant and speaker with experience that includes teaching Google Partners, training at a college level, receiving multiple Web Marketing Association awards and earning rave reviews from companies of all sizes. For more information on his speaking or consulting services, visit HusamJandal.com.
Image 1: How to Grow Your Business Using Customer Referrals
Effective customer referral strategies attract and retain more customers, and increase revenue, but business owners are reluctant to deploy.
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How to grow your business with customer referrals