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What is more exciting for a business owner than having a happy loyal customer?
Well, it is for that customer to refer their friends and family to your business and encourage them to buy into it.
This is the power of creating a referral program within your business.
A referral program is part of Word of Mouth Marketing, where it’s a systemic approach to generating continuous referrals to our business by tactically encouraging and gathering referrals with the support of existing customers or business partners.
This approach incentivizes loyal happy customers or partners to become brand advocates, which is powerful and extremely advantageous to the business because, as we know, 92% of consumers trust recommendations over traditional forms of advertising.
The aim is to also use a referral program to acquire new customers at a lower cost than traditionally doing so through other types of marketing.
This episode takes you through all the details…
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