Did you know that it cost 5 times more to find new clients than to keep the ones you currently have?
And that it also costs 5 times less to get new clients from referrals than from advertising?
Whoa!!! Don’t get me wrong…I’m not saying that advertising should not be a part of your marketing mix. I’m saying that you should invest in customer loyalty and referrals. Here’s a simple, yet overlooked, trick that can improve customer retention, loyalty and referrals.
Ask for a referral and say THANK YOU
Customers who have had a positive experience with you are willing to refer you to their friends. Just ask. But they get busy, and they forget. Here’s the simplest trick to ensure they refer: Just ask for one.
There is nothing wrong with saying “thanks a ton for your business John, would you mind referring us, and talking about our business to your friends? We work very hard to satisfy customers like you, and every referral is sincerely appreciated.”
In other words, train your employees to show appreciation for the customer’s service whenever they’re able to. The customer will feel close to you, and everyone loves to talk about businesses that they feel they have a special relationship with. The effect will be remarkable. Heck, I always find myself taking about AAA and their impeccable service…and they aren’t even paying me.