Rewarding your clients who give you referrals is one of the first things you should do after you’ve made your new client gain.
Although many people may not realise it, the referrals that your client base is handing out to you is an important part of your business model. Many businesses make their money from using referral programs and allowing their previous customers to scout for new buyers while promoting the business. In this article, we will look at some of the ways you can reward clients who give referrals.
How to reward those who give client referrals
One of the main type of rewards that many businesses offer is a personal gift. Personal gifts can include gift cards or a thank you note. These type of gifts will make your client feel appreciated for their efforts. Another type of reward system is the referral discount system. You can encourage customers to refer you by offering them a good discount on products and services in return. This type of reward system is especially useful for clients who are frequent buyers or users of your products and services. You can also offer the discount to new, referred customers; this will make them want to purchase something from your store.
Yet another method is to give your clients money in exchange for referring you. This a very old fashioned and common method that many companies use to increase their referrals. You can let your client know that they will receive a certain amount of money for every person they refer to, especially if that person signs up or purchases something. If your customer tends to make a large amount of purchases, you may need to increase the amount of the cash out.
Another option if you are working with other businesses is to refer a business yourself. When you send a customer to another business, you’re leaving a good impression on the business and they may consider you when they get new customers.