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The Most Profitable Referral Generating Tactic You'll Ever Use

We all know that working with and selling to referrals is much easier (and more profitable) than for any other type of customer. And while there are plenty of ways of generating these valuable referrals, one of the best ways is to 'incentivize' your customers to refer people to your business so they become excited about helping you to grow and prosper.

It's also a very easy thing to get started with. Just contact your customers throughout the year and tell them that if they'll send you two referrals, you will a 20-50% discount on one of your products or services, as long as the referrals become customers. Since the lifetime value of a new customer can be hundreds or thousands of dollars, this referral generation technique be worth lots of money to you.

It's nearly always worth giving away a percentage of your profits like this on the front end because you can then make a lot more money on the backend from your new customers. And this works really well because your customers are always interested in a bargain or a bonus of some kind. Just making this offer to a few people every month could help you to consistently grow your business, and your clients love you for offering it.

Or here's another example...

If you have a business where your customers are really happy and excited at the time of their purchase, it's a GREAT time to ask them to give you two or three referrals right there on the spot. Just have a form handy and say to them something like -

"Hey Colin, it's great to see you're happy about buying your new Fender guitar. I was wondering if you could think of anybody else who would like to enjoy the same experience and admiration you are going to have with your beautiful new Stratocaster? Who else among your family and friends would also enjoy having a Fender guitar just like yours?"

Then you can help your customers think about and remember who they know in their personal life, in their business, at their club or in their local area who would really appreciate or benefit from the same product they just purchased. Most business owners simply don't realize how excited and motivated their customers are right after they've made a purchase, and how important it is for those people to get confirmation from somebody that they've made a good decision.

Probably the single most powerful form of confirmation you can give to a customer is to let them offer the same benefits to somebody else who's important to them. And the thing is, your customers will thank you for doing this. Everybody wins... So are you going to use this idea for generating more referrals? You really should at least test it out, shouldn't you?

The important point is that you can use referral systems to immediately increase the number of customers you have, and the amount of profit you make every single day for the rest of your business life. It really is so simple to do, and it costs you nothing more than a shift in your mindset and a small modification in the things you do and the words you say.

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