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A Rarely Considered Way to Gather New Customers

Building a customer base for your small business is very difficult. It can be hard for you to gather new clients regardless of the methods being used. One method can be an array of different marketing techniques. Another one would be cold calling your target client. You can even use direct mailings to potential client’s homes. However there is an untapped resource that small businesses don’t take advantage of. Failing to take advantage of current client referrals is a huge mistake often made.

If they are used in the right way customer referrals can become the main portion of your businesses plan to develop. The best way for you to advertise is through your clients who are currently very happy with you. You can drastically grow the amount of new customers your business generates if you are able to start getting referrals through you current customer base. It is difficult to figure out a way for you to generate these referrals in an efficient method.

There are a few different ways that you can efficiently generate current customer referrals. One of the best ways is to offer a bonus or special offer to any new customer that is generated as the result of a referral. This can be done on both ends of the referral. One example would be to offer a buy one get one free coupon to the current customer and the same offer to the referred customer you signed up. This method invokes some added costs, which is really the only draw back.

Weighting the cost of new customers is something that must be done to compare. This new customer cost you how much time to gather? Marketing you used also cost how much to develop? Spending time and developing marketing both end up costing you some money. Offering a referral bonus often ends up being equal to the amount of money you spend on these other methods. A happy new customer is one benefit of a referral bonus and so is the fact that you are making your current customer happy as well.