How can a referral scheme boost your sales process?

Being your own boss can be difficult at times, with lots of tasks to complete and not enough hours in the day. Often we find that as a business owner, you spend many more hours “at work” than if you were simply working for an organisation. However, on the counter side of that argument, being your own boss affords you’re the flexibility to determine your own working practices as well as potentially earn a higher income.

However, the focus of today’s blog is not to highlight the many positive aspects of being your own boss, but rather introducing the concept of referral schemes to boost your credibility and sales in the medium to long term. With that being said, lets find out more below…

• The sales process can be difficult

Regardless of what product or service you are looking to sell, there can be moments where the whole sales process appears to be difficult. You might be going through a quiet time of the year, or you may face increased competition. The reasons can be plentiful and they call all lead to you not hitting your desired sales target for a particular week or month.

However, one way to potentially boost your sales process is to introduce a referral scheme. A referral scheme can be defined as, “an act of referring someone, or something for consultation, review, or further action”. By following on from a referral you are likely to have a softer introduction to your new business prospect, which makes it easier to build a relationship and secure a sale.

• Why do referrals matter?

Referrals matter for a variety of reasons as they indicate a level of trust and assurance. For example, a business that has a positive experience with you is likely to refer your product/service to other people that he/she knows so that they can experience similar rewards. On the other hand, a business that has suffered a negative experience due to your product/service is more likely to harm your reputation. By positively utilising referrals, your business can potentially grow substantially due to a positive word of mouth.

• Constructing your referral strategy

While the temptation maybe there to ask satisfied customers for referrals, the best referral strategy is one that is carefully thought through and involves some form of monetary reward for the referrer. People may refer your business organically, without any reward, but due to human nature are far more likely to refer you if there is a reward attached.

Setting the level of reward is something you should carefully consider, as you want it to be something that you can potentially build into your price and make it attractive for all concerned.

• Overall

As we have seen, a referral strategy can help boost your sales process by allowing you to pitch to additional business contacts via existing, satisfied customers. To find out how Eazi-Apps can help you start your own mobile app business today, please contact the head office team for more information.