A Rarely Considered Way to Gather New Customers

A small business constantly struggles with building up their customer base. Regardless of the methods that are used, it is hard for them to gather a lot of new clients. An array of different marketing methods can be one method. Another one would be cold calling your target client. Potential customer's homes can also be mailed to directly if you like. However there is an untapped resource that small businesses don't take advantage of. They fail to recognize the potential of the current customer referral.

Customer referrals, if used in the correct manner, can become the backbone for your business development plan. The best way for you to advertise is through your clients who are currently very happy with you. If you can find a way to generate referrals through your current customers, you will be able to drastically grow the amount of new customers you develop. The difficulty is in finding a efficient method for you to do so.

You can efficiently generate current customer referrals in a few different ways if you think of them. One of the best ways is to offer a bonus or special offer to any new customer that is generated as the result of a referral. This can be done on both ends of the referral. You can offer your existing customer a $10 bonus, for example, while offering the same bonus to the person they are referring. This method invokes some added costs, which is really the only draw back.

Weighting the cost of new customers is something that must be done to compare. This new customer cost you how much time to gather? Marketing you used also cost how much to develop? Spending time and developing marketing both end up costing you some money. Spending money on these methods usually doesn't cost any more or less than offering a bonus for referrals. Do not forget that this referral bonus is mean to bring in a new customer, but also makes your current customer base more pleased with you.

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