How To Increase Your Referral Base

Published: 14th March 2012
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If you have successfully put up a business, are enjoying success, but find your business' movement seemingly at a standstill, then maybe it's time to check out your referral base to improve your sales.

A referral base is a list of people to consult, whom you can ask referrals from. These people are most often trusted, and will never let you down.

Let's face it - new clients will be the key to the expansion of your business. Of course, your old client base is a collection your trusted customers. They are the ones who will be around for years. They will keep the company afloat, but if your business has already reached a plateau, it may be apparent that your loyal clients may not be enough. To expand, or to get more sales, you have to use your referral base, or simply conjure up new ways to get new referrals. So what are the easiest and most sure-fire ways to do it?

Satisfy existing customers. By satisfying your client base, you may not need to ask for referrals - they will gladly mention your business name to their contacts and friends, if ever the need arises. Sometimes, your old clients are so happy with your product, that they go around and tell people about how "they should try it."

Advertise/Promote your business. It's quite common for people to stumble upon your product, or try patronizing your store out of curiosity. These incidental sales are not to be scoffed at, for they may turn out to be the best clients you will ever have. The mere fact that you have successfully enticed a customer to try out your store, even if it's only for curiosity's sake means that your advertising and promotions strategies are successful. Just try to enhance product or service quality, and surely, not only will they keep coming back, they will also refer you to their friends - even without you asking.

Appoint your staff to seek referrals - and reward them for it. One of the best ways to increase referral base without exerting too much effort is by hiring or assigning people under your employ to do the dirty work. An added bonus is, they will be motivated to seek as many referrals as possible when you give them some sort of reward for every new client they bring in. It may cost you some money, but the long-term results far outweigh the small cost. Hey, if you were willing to spend on promotions, then why can't you reward your own people for their efforts to help your business reach its full potential?

Encourage clients to bring in a new friend to avail of a discount. For every client, old or new, that walks in your door, give them a coupon for a discount when they bring a new friend the next time they come. This is a win-win situation. Your client enjoys a price cut on their next visit, and you benefit by having new business courtesy of the older client's referral. Hand over a coupon to every first-time customer. Tip: indicate an expiry date for the availment of the discount. This way, you can be sure that they come back and give you new business within a given period.

Try Google+ 1. Open a Google+ account and ask followers to include you in their "circle/s." This way, you utilize the assistance of your own set of followers to help you get new business/referrals.


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