3-2 Creating Winning Referral Systems [Part 1]

Creating Winning Referral Systems [Part 1]

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How to turn your best customers into a winning profit center for your business using referral systems.

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Lesson 2:Creating Winning Referral Systems

[text_block style="style_1.png" align="right" font_size="15" font_style="300" font_color="%23c0c0c0" font_spacing="0" font_shadow="none" top_padding="10"]Lesson Level:  Intermediate / Advanced[/text_block]
[text_block style="style_1.png" align="right" font_size="15" font_style="300" font_color="%23c0c0c0" font_spacing="0" font_shadow="none" top_padding="10"]Lesson Length:  19m 58 sec[/text_block]

LESSON BRIEF

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"92% of customers trust referrals from friends and family
over any other form of advertising."
- Nielson

 

A study performed by McKinsey stated that whether in B2B or B2C, referrals were a primary factor behind 20-50% of all purchase decisions, yet many entrepreneurs leave their referral program up to chance without any strategic referral system in place.

With referrals, not only do you benefit from more sales… the simple fact is: a referral-generated customer spends more money with you, buys at greater frequency, makes fewer returns, has greater retention, and is frequently the most profitable.

And that doesn't even account for the fact that person who's referring others also ends up spending more money with you more often, and becoming one of your most loyal customers!

 

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