There is no need to sacrifice your entire marketing strategy or your sales tactics if you want a fresh approach to ramping up your business growth. Instead, look to the resources you already have: your current satisfied customers. A customer referral strategy generates growth from a pool of targets who already know and support your product or service.
Customer referrals are the common denominator among some of the fastest-growing small and medium-sized companies. CEOs of high-growth small and medium-sized companies – that is, companies with double-digit growth over two years – ranked customer referrals as one of their top three most successful strategies in marketing and sales.
These high-growth companies are more likely to have a formal customer referral programme in place than those that did not achieve any growth over that same period of time.
If your company doesn’t have a referral programme already, it’s easy to create one. In fact, getting started only takes two steps.