When it comes to building trust, it is always easy and reliable to go with the people you know. Going by the everyday scenarios, let us consider you getting any skin related problem, say pimples. Whom do you trust more? Your friend telling you that she witnessed the same skin problem last week and got it cured with the help of turmeric and yoghurt or Alia Bhatt telling you to use Garnier Face Wash to get rid of pimples and various other skin problems. Of course the answer comes out to be your friend from at least 80% of the people you consult.
There may be a huge bulk of marketing strategies which can help you gain a good market support and customers, but considering the investment required, Referral Marketing System appeals a great deal. Referral Marketing involves focusing on your customers only. The sales zone extends majorly within the customers who trust your products and are regular users. It appears to be more beneficial rather than wasting a huge part of your monetary investments and sales strategies on convincing new people to buy your product.
The only major requirement is trust building with your existing customers so that they feel good to refer your products and services to the people around them without hesitation. And as mentioned above, general advertisements and sales are not as effective as referral by the people you already trust.
Also including benefits like additional discounts to your customers can also be more tempting for them to go ahead with the referrals. This can be easily achieved with little monetary investment too.
Going with the traditional marketing strategies, you need a huge lot of expenditure on advertisements through hoardings, Television, Radio etc. Whereas going by the referral method, spending a few resources on Online Marketing can fetch you a good revenue through referrals. All you need to to do is to keep your customers satisfied and connected to you and a few temptations through referrals.
The essential part of Online Marketing Strategies still lies in the hands of your valued existing customer. Hence it remains your prime necessity to focus on Customer Retention. Once a customer is attached to you, it becomes your responsibility to focus on Customer Satisfaction through reliable products, rapid services and a good service support so that your goodwill exists in the market and inspires them to refer your products and services to their friends, family and known people.
With the growing trend of online networking websites, the list of friends you have is not just limited to the people you are in constant touch with. It involves a hundreds and thousands of friends you have on social networking sites which creates a whole bulk of upcoming expected customers to an organization through referral system just by focusing on customer satisfaction and customer retention.
There may be various other strategies you can implement to boost your online referral marketing system. Just sending Thank you mails to your customers who refer others can make them feel special and connected to you. Also you can keep a track of the customers who are comparatively more actively referring as compared to others and take care that they are always satisfied by your products and services. You can also provide them with some special discounts on festivals or anniversaries etc
I would like to conclude that Online Referral marketing strategy can be viewed as an efficient and cheaper marketing method and is now increasingly being paid attention to by major organizations. Online referral is not just meant for large scale companies. It can be implemented by small scale industries and other businesses too. Also the referral isn’t always necessary to be done online. One can implement it on a small scale too. Say a Beauty parlor owner can give a a discount on your next visit if you refer the services to a friend and he/she avails any of the services provided there.
The Referral system manages to find its requirement and implementation on a huge part of industries and businesses. What matters is the way you implement it and make the best use of it..!!
Sheela Joby is a freelance writer with an experience of 10 yrs,. Apart from writing she is into photography, traveling, music etc . you could reach her at – email@example.com