By Michele Stilwell, Director of Marketing and Accounting at MEDiAHEAD.
Do we have a referral program? Of course we do! We absolutely love referrals. And we like to thank the people that refer us business in a memorable way. Do you like feeling like Wonder Woman or Superman? When you refer us to another business you’ll get this awesome kit from us.
People are usually willing to refer business to a company when they’re given good service, feel great about the people they work with and feel great about the product(s) they’re using. The bonus for them is that we give a great unique gift for that wonderful referral.
Referrals are an important part of a healthy B2B relationship. Not only can you refer people you’re working with, but you can also be referred. Did you know that customers are four times more likely to buy when referred by a friend? The lifetime value of a referred customers is 16% higher, on average, than a non-referred customer.
Recently, the Word of Mouth Marketing Association (WOMMA) measured the total marketplace impact at $6 trillion dollars, and found that the value of a single word-of-mouth impression is anywhere from 5 to 100+ times more valuable than a paid media impression.
Spread Brand Awareness
Referral marketing programs can dramatically increase existing customer engagements and help with customer acquisition while spreading brand awareness. We actually have our referral kit on our MEDiAHEAD portal, so it’s easy for us to just enter the referring person’s information and the kit is auto generated. (Yes, we eat our own cooking.)
So next time you are impressed with a product or service you love, be sure to tell people about it. And if you’ve worked with us, please tell other companies how we’ve helped you so that we can thank you heroically. We would love to make you feel like Wonder Woman or Superman!