Saturday, May 19, 2007

Accidental referral

It is surprising how many businesses don't manage referrals and yet entire companies are created through referral networks.

Recently a friend spoke positively about his new dehumidifier and how well it worked.

When I woke up the next morning to wet windowsills I remembered what he had said and figured I needed to get one. Sure enough, I got the same make that he got (just from a different store).

Wouldn't it have been easy for the business that sold it to him to put a referral programme in place? That way they could've got my business and rewarded my friends loyalty, encouraging him to share his positive experience with others that he knows.

It is amazingly cost effective to manage client loyalty, and the benefits of having raving fans sending new customers your way is extremely profitable.

Are you transacting with your customers or building a loyal fan base?

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