Everyone agrees that word of mouth is one of the best forms of advertising. And, of course, your customers are happy and refer their friends or family members because you were successful at offering high-quality products and services. However, to increase your profit margin, you need to push for greater goals.
If you have a good customer base that is already referring others to you, then you should reward them. You may have many satisfied customers who can easily find value in an incentive and might become even more motivated to provide you with referrals.
Choosing the right advertising solutions to reward your existing customers and offer them incentives for referrals is always a smart step and should be included within every marketing strategy. For example, offer direct-mail coupons with a double discount for anyone bringing new patrons, or enlist an e-mail marketing campaign with a forward-to-a-friend link to increase online referrals (if there is value, they will certainly subscribe to receive your offers). Using social media to grow your fan base or your followers can be used similarly. Asking your Twitter followers to tag you, as in #FollowFriday (this expression is used on Twitter to recommend a person to follow), is an example of a brand-new method of referral.
The point is, you should utilize any form of advertising to reach a higher goal and not merely remain satisfied with the “status quo”, that is, your base clientele.
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