A huge majority of small business collapse within a year after they are established. Most of the medium sized companies never actually get to realize their visions and missions even after a couple of years having been in operation.
This are some of the astounding and appalling facts about the course many start ups take and one of the main reason behind their flops happens to be that they don’t take some time out to review their marketing strategy.
They don’t even pause to try and come up with a more effective strategy that will enable them to penetrate the markets and consequently end up making a more pronounced impact.
So Much to Gain from Referral Marketing
There are now countless means and ways you can spread the word out on what you are involved in and what it is exactly that you do.
Some of them are traditional and the others are new-age but they all stand to make a really huge impact on your endeavors if you implement and execute them in a timely fashion and manner.
One of the new-age means goes by the name of referral marketing and it is defined as a method of promoting products and services simply by making use of the word of mouth.
10 Ways of Referral Marketing
Here are 10 ways of Referral Marketing that are worth giving a second though lest you want to end up as most of the small businesses do in this day and age.
- Make sure you have credible and appealing promotional content about your products and services – take your time and ensure that you come up with great content that will prompt the readers and viewers to want to learn more about you.
- Don’t be shy –take each and every opportunity presented at you to talk about your firm. It can be in weddings, parties, cock-tails and so forth.
- Market yourself at workshops and business seminars – if you are invited to these occasions make sure you have an impressive presentation that will end up increasing your brands visibility.
- Get others to endorse and vouch for your brand on their creative works and this will serve to expand your horizons.
- Make sure your achievements, recognition and awards are duly noted in all your presentations and content to add value.
- Use teams to ensure that you reach out to a bigger audiences and target audiences.
- Bring to the table the fourth estate – the media can work wonders in disseminating your works and you can reward them by allowing them to use them for free.
- Find means and ways to permeate influential business circles and your work will be as good as done.
- Make great use of the web – you can use Twitter or Facebook or any other social media platforms to reach out to millions of potential sales leads, easily and cheaply.
- Come up with many more referral sources and use them strategically to get your messages heard and compensate them for any additional revenue they help to generate.