How to cut your customer acquisition cost

Why don’t your customers refer?
Here are 7 reasons from our friend Ruth King:

  1. You have no active, non-pressure program so they don’t think about it. No one has ever talked with them about it.
  2. You haven’t shown them how to refer. They don’t know who to send referral to and how (email, telephone, text, etc.)
  3. They drive prospects away by making them feel pressured into calling you.
  4. They feel awkward. They feel like they are selling and they “don’t like to be sold.”
  5. They forget. There are no reminders about your referral program.
  6. They don’t think it is important.
  7. They referred once and weren’t recognized, thanked or rewarded.
    If you want to cut your customer acquisition costs, create a referral program:
  8. Decide if you will give a gift card for the referral with a handwritten thank you.
  9. Let your customers know about it. Put referral details in your newsletters, on your invoices, on the back of your business card.
  10. Call 30 days after the sale and make sure everything is ok. Then ask, “Who have you talked with about your new X?”
  11. Track and improve your referrals.
  12. Post referrals on your social media.
    We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
    For a $20 personally autographed copy, contact us at 803-359-7633.
    Copyright 2020, The Bellune Co., Inc.

The best way to gain more customers

Our friend Ruth King told us about her friend who asked for referrals for their new air conditioning system. None of the sales people asked why the friends called.
Make sure your salespeople ask how prospects heard about or who suggested you. Then thank those who referred you.
Prospects who call your company on recommendations are passive referrals.
No one in your company solicited the referral. It came because of a great job you did and your happy customer referred others to you without being prompted. These referrals prove you did a great job and the customer was happy to mention you.
Active referrals come when you ask customers for them. Many do it through social media: “If you liked our service, please review us on Google, Yelp, etc.”
Active referrals can come from incentives. By offering a gift, product or service for referrals, some customers become de facto sales people for you.
Put a statement on the bottom of your invoices that says, “We grow our company through referrals from family and friends. If we did a great job, please let them know.
“If we didn’t, please let us know.”
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
Copyright 2019, The Bellune Co., Inc.