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How Can A Small Business Maximize Referral Network

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How can a small business maximize referral networks to help launch a brand?

Referral network marketing has been known to be the cheapest yet most effective form of

marketing. Also known as word-of-mouth, in a referral network you actually let your

customers market your products to their families, friends, colleagues, etc.. There are several

ways on how a small business can maximize it's referral networks in launching a brand. First,

provide exceptional Customer service and buying experience; always take an extra mile in

serving your customers, A good experience last and is a very good way to encourage repeat

customers. Repeat customers don't only provide constant profit but higher

purchases/spending. They also don’t just provide higher profit but establishes your

company’s brand. Second, pay attention to your analytics; know how much percentage of

your new customers came from referral this includes using platforms such as referral

websites, social media "likes and tags" can be of great help too. Knowing the consumer size

of new and existing customers will help small businesses strategize where to focus their

marketing efforts. An increase in new and existing customers is an indication that the

business is building a strong brand. Third, make your product experience sharable; create a

wow factor every time you provide a service or sell a product, this can be through freebies

or by simply having that personal touch in entertaining your customers first hand. A satisfied

customer will most likely share a good experience with a friend or even post it on social

media which means free promotion for the business. Fourth, make it easy for a customer to

refer your brand; social media is a tool you can use for free in making sure that your brand is

known. Create a page which can be easily found by customers, you can update and boost

your page every now and then to increase popularity. Every time your customer "checks-in"

on their social media accounts, while they're at your store, is actually a form of a free

advertisement and increases the value of your brand. Fifth, implement a referral program;

this may be a commonly used tool but it's really effective. Sometimes people don't feel the

need of sharing a good service or product if they don't feel rewarded. Giving something

extra to your existing customers will definitely increase their loyalty and promote your

products to other customers. Sixth, capitalize on influencers; you can use Instagrammer and

YouTuber with several followers from your target market. If you happen to have existing

customers who are famous in this field, you can use their testimonials in promoting your

product. Most people nowadays follow specific trends and patronizes products from

well-known individuals so this will surely increase sale profit and expand the range of your

brand. Last, reviews are referrals too; people trust what others have to say about their

experiences about the product or service. If you can keep a review rating of 4.5 and up then

you're doing a great job you’ve built a strong brand. Also, a higher review encourages new

customers to try your products.

Therefore, for small businesses with the limited capital, it is very important to know your

market and how to maximize your resources in increasing your sales. It doesn't always have

to be expensive, sometimes the simple and commonly used ways are more effective and

promise higher results. You just have to plan and execute properly.

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How can a small business maximize referral networks to help launch a brand? Referral network marketing has been known to be the cheapest yet most effective form of marketing. Also known as word-of-mouth, in a referral network you actually let your customers market your products to their families, friends, colleagues, etc.. There are several ways on how a small business can maximize it's referral networks in launching a brand. First, provide exceptional Customer service and buying experience; always take an extra mile in serving your customers, A good experience last and is a very good way to ...
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