Consider a Host-beneficiary Partnership for Successful Customer Referrals
While you can typically rely on your insurance agent to help you find appropriate California business insurance, advertising to connect the right customers to your business may not be as easy. Advertising can be expensive and sometimes ineffectual, but what is the alternative? Take a moment to think about customer referrals. They cost nothing, and because your business has been recommended by a friend or acquaintance, the beginning of trust has already been established.
One of the best ways to boost referrals while thanking your existing customers is to ask your new customers to fill out a basic survey/questionnaire discreetly asking them to identify their referral. Make a point of sending the original customer a thank you note explaining how it is customers like them who play a significant role in keeping your business viable. This makes the customer feel appreciated and more likely to continue referring your business.
One of the latest successful trends in customer referrals is where two companies with a similar customer target, team up together. For example, a florist might team up with a local chocolatier to gain exposure and prospective customers. One business sells a product while offering a freebie or discount for the other business and vice versa.
Like California business insurance, advertising and marketing is essential for all businesses, but with a little imagination and positive partnerships it doesn’t have to be expensive. This type of marketing is known as ‘host-beneficiary’, so look up the local businesses that have a customer overlap with your own and consider discussing a host-beneficiary partnership.