Automated referrals help you “Follow the Money” the easy way
By Ella Wilson
More than just a catchy line from “All the President’s Men,” “follow the money” is great advice for small business owners who are trying to stretch their marketing budget but still want real results.
What does it mean to “follow the money?”
To “follow the money” means to find potential customers who have the money to spend on your product and focusing your marketing specifically on them.
But shouldn’t I try to get all the possible customers I can?
Sure. If you have an unlimited ad budget, by all means, go after every potential customer. Companies that have the budget to do that, like Coke or Apple, do it every day. When was the last time you went a whole day without seeing an ad for an iPhone when you had zero interest in buying one?
But small businesses rarely have the ad budget to scattershot their advertising like the big companies. For small businesses, honing in on customers who have the money and interest they need to make a purchase (we call these “qualified leads”) and marketing to only them is a much more profitable and responsible business practice.
How do I find out where the money is?
The very best way to find new qualified leads is through referrals. When your satisfied customers refer their friends, it accomplishes three things:
- Your customer acts as a vetting mediator. They will most likely only refer their friends with the need and the resources to purchase your product.
- The new prospect will take your business more seriously and hold it in higher esteem before they even do business with you, simply because their friend referred them.
- Referrals produce great results at a very low cost per acquisition.
I ask my customers for referrals, but I don’t get a lot of response
Don’t despair – it’s not that your customers don’t like your business. Asking customers for referrals in the traditional way is just a flawed process.
When customers are leaving your office, they’re thinking about where they’re going next, or they’re excited about the purchase they just made. Either way, they’re distracted. They’re not going to be in the best frame of mind to remember which of their friends might be interested in your product, and they probably don’t have time to search for their friends’ phone numbers when they’re trying to get on with their day.
They’re not the only ones who are distracted. You or your employees are also likely to forget to even ask for referrals in the flurry of making a sale.
And even if you do get the referral you’ve asked for, will you remember to follow up on it? It’s time consuming to go through all the steps from getting a referral to converting a sale. Many times, it’s not getting the referral that’s the hard part. Failing to properly follow-up is where the process goes awry.
Referrals? We’ve got an app for that
GetUWired has a solution to these problems – marketing automation. GetUWired can automate your referral process to streamline it and get much better results.
Why automating the referral process is better
- An automated system allows your customers to refer their friends at the own leisure. That way, they have time to think about which of their friends could use your services and look up their friends phone numbers (because who knows numbers by heart anymore?).
- An automated referral system will ALWAYS remember to ask for referrals. An automated system follows up with every customer at key points in the sales cycle where they are more likely to refer their friends (they right times are not what you think it). You can also set up the system to ask for referrals after a customer leaves a positive review. Why not ask for a referral when your customer just got done talking about how much they love your company?
- An automated system like Infusionsoft can ask for a referral, get it, and then instantly start nurturing that new lead without you having to lift a finger. Eliminating follow-up failure is one of automation’s greatest features.
Let us help you “follow the money”
GetUWired can automate your referral process to increase your number of qualified leads. We can also help you find other qualified leads through lead scoring, Infusionsoft campaigns, and more. We are small business experts. Let us help you grow your customer base today! Give us a call at 877-236-9094 or visit www.GetUwired.us.