Referral Marketing
What is Referral Marketing?
Referral marketing is a form of marketing ones business through personal recommendations and word of mouth.
It is the most reliable, most rewarding, and least expensive way to build sales for your business. Over 80% of new business is generated through word of mouth and personal recommendations. And it is the way that we want our clients to find out about us – be recommended by a friend.
Referrals can come from two sources; satisfied customers and referral alliances.
- Satisfied Customers
If you provide good products or services that people need, they tell others of their experience. It’s human nature to tell others of good things we discovered and caution them against repeating our mistakes.
- Referral Alliances
A referral alliance is a partnership with another business person where you both have an agreed commitment to create as many win/win opportunities as possible for one another.
When satisfied customers or referral alliances rave about you to their networks, they are in effect creating referrals for your business. Because of these referrals chances are good that when these new prospects are in the market for your product they will patronise your business rather than your competitors. They trust you and want to do business with you because of the recommendation of the original, satisfied customer or referral alliance.
When you receive a referral to your business, you are getting a customer who:
- Is easier to close
- Is more loyal and remains a client longer
- Is more trusting and has fewer complaints
You can build a very successful business and generate a steady stream of referrals from your network with this method of marketing.
How Successful is Referral Marketing?
Structured word of mouth marketing or relationship marketing is one of the most powerful and cost effective ways to develop new business. Personal referrals often result in quality repeat business.
People wanting to buy goods and services want to deal with someone who has been recommended by someone they know & trust.
Successful businesses have been “networking” for thousands of years. Venus Clubs simply puts structure and formality around a proven concept. When you join Venus Clubs you become a member of a powerful network of business professionals – women committed to making each other’s business more successful.
It is all about Building long term Relationships
We understand that building successful, sustainable and mutually rewarding relationships in business takes time. The Venus Clubs main purpose is to support you to build lasting relationships with other club members, so that you will truly understand their business and they will truly understand yours. This is the only way to secure genuine, quality referral alliances.
