How to Get Referrals from 77% of Your Customers
How to Get Referrals from 77% of Your Customers
You want your customers to love you so much they tell their friends about you. This is how you do it.
Did you know that finding a new customer is anywhere from 5 to 25 times more expensive than keeping a current one?
Think about how much money you’re plowing into your marketing efforts. You might be so fixated on finding new customers that you’re not focusing enough on your current ones.
Of course, this could mean existing customers take their business elsewhere.
Did you know, according to a recent case study, you might be missing out on a huge opportunity? Your existing customers could be the key to getting new customers. Best of all, you’ll spend far less on attracting those customers than you would with other marketing techniques.
A recent case study examining real estate professionals discovered a very important correlation between top performers and the method they used to differentiate themselves from their competitors.
After speaking with multiple clients, 77% stated the number one reason they would recommend an agent to a friend or acquaintance was having a positive experience with that agent.
That is over three quarters of the agents’ clients.
The message here is simple.
You need to do whatever you can to ensure your clients have happy memories of you. When someone asks for a referral, you’ll be front and center in their minds.
So, how do you get your existing customers to make that all-important referral?
Here’s some useful advice…
The Right Gift Matters
What’s the best way to retain customers?
The real estate study made another interesting discovery: If an existing customer has had a good experience with you, your chances of making another sale to them hover around 60–70%.
The opposite is true as well. The number one reason customers gave for turning to another company was feeling unappreciated.
Maker’s Mark knows how to make a customer feel appreciated…
A bourbon company, Maker’s Mark is all about quality in small doses. Instead of mass-production, they create their liquor in small quantities.
Their Ambassador Package is amazing. When somebody signs up, they get their name put on a barrel of the company’s bourbon.
But it’s what comes afterwards that’s so important.
The Ambassador gets access to a range of merchandise nobody else can get their hands on. Around the holidays, Maker’s Mark sends special gifts to their most loyal customers.
If you want to show appreciation to customers, giving a gift is the right way to do it.
Of course, you’ve got to choose the right gift. Here are a few helpful tips:
Tip #1 – Always go for quality
Ideally, you’ll send American-made gifts that showcase a little thought and affection. A cheap gift will end up getting thrown away or stashed in a drawer somewhere. That’s not going to keep your company at the top of an existing customer’s mind.
Tip #2 – Make it shareable
Give the recipient something to talk about with their friends. Something as simple as a muffin basket or a bottle of the customer’s favorite drink can kick off a conversation. Somebody will probably ask where they got it, which means the customer starts talking about you.
Tip #3 – Give them something they’ll actually use
If they don’t find it useful, they’re not going to keep it. You’ll lose the conversation-starter and constant reminder of your presence.
What About Presentation?
Of course, getting the right gift is only one part of the equation.
A quality gift won’t go far if the presentation isn’t up to scratch. The customer will see that you haven’t put much thought into it. They may just throw it away without looking at it.
Here are a few tips to help you to improve your presentation.
Tip #1 – Personalize It
Your goal is to get the customer to save the gift. That’s where personalization comes in.
On a basic level, personalization can involve putting their name on the item. Adding a monogram to a gift that contains a personal message is a good start.
But you can go beyond that.
What is the customer interested in? If they love to fire up the grill, a BBQ set may be a good gift.
Have they got a pool at home? A couple of monogrammed towels will see plenty of use.
Put the same amount of thought into the gift as you would if you bought it for a friend.
Tip #2 – Include a Handwritten Note
You don’t want the customer to think you’re giving gifts to everyone. After all, it’s not a special sign of appreciation if everyone’s got one.
A handwritten note shows that this isn’t just a gift from the company. It’s a gift from you, because this customer is so special to you. Again, the customer engages with the gift because they appreciate the note.
That means they’re more likely to talk about your company and your great service.
Tip #3 – Your Logo Isn’t Required
Not every company has a brand their customers want to see plastered all over.
In fact, your gift will have more meaning if it’s not an obvious promotional item.
Make it look like something they’d buy themselves. They’re still going to think of you when they use it, so your logo isn’t required.
Timing is Everything
Now, let’s talk about when you should send gifts.
The holiday season offers the perfect opportunity. A thoughtful gift sent during that period will show your appreciation. However, you have many opportunities to send gifts that aren’t tied to common holidays.
Here’s a great example: TD Bank times their gifts to really matter to their customers.
TD Bank markets itself as the most convenient bank in the United States. Its extended opening hours already do a lot to make customers happy.
But they took things a step further with their #TDTHANKSYOU campaign.
The company asked their customers to write notes describing their current situation. Then they set up a special ATM to deposit them in.
They took these notes and sent out timely gifts that really mattered to those customers. For example, one of the notes came from a mother who really needed to travel across the country to see her sick daughter. TD Bank sent her some airline tickets to make sure she was there when her daughter needed her most.
Every one of your customers has important events going on in their lives. Find out more about them. This way you can time gifts so they arrive when customers really need them.
Gifts = New Customers
You want to get more referrals from your customers.
Appreciation is the key. Many companies out there offer a product or service similar to yours. People stick with certain brands because they’re engaged with them.
And they recommend companies to their friends for the same reason.
With a well-timed and high-quality gift, you show your existing customers that you care. Anybody who hears about it will want to buy from you because they want the same kind of treatment.
Where can you go to find the perfect gift for a customer?
Kustom Products offers a huge range of gifts that hit all of the marks in terms of quality and presentation. Check out our selection today to find the perfect gift for your client.