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The Importance of Referral Marketing

Any service providers or businesses need to utilize referral marketing in order to grow and succeed in today’s competitive marketplace. Even if your goal is to merely to maintain your current levels of customer satisfaction and business, you should incorporate referral marketing as one of your marketing strategies.

Referral marketing provides a very effective method of maintaining a healthy customer base of individuals who are pre-sold on purchasing your particular products or services. The technique relies heavily on customer service which is essential to the success of absolutely any business. Referral marketing can help you replace any customers who will inevitably begin to lose interest, move away or switch to one of your competitors.

If you create a referral marketing campaign that is personalized and focused on establishing solid customer relationships, you will often see immediate positive results.

Ø More Repeat Business

Individuals who feel they have established a positive rapport with the people in your company will be much more likely to become long-term repeat customers. A greater number of customers tend to return when companies choose to build trust via referral marketing.

Ø Improved Customer Relations

Companies that focus on establishing solid business relationships also experience improvements in customer service. It can be a very wise decision to have your top professionals included in this plan. Customers want to be treated as respected individuals, rather than merely a number. If your company operates on this philosophy, your valuable customer base will continue to grow.

Ø Ability to Up-Sell

Referral marketing also incorporates the ability to effectively up-sell. For example, an insurance salesperson who establishes a solid relationship with a customer interested in purchasing car insurance will be more likely to see that individual return. In fact, that same individual may also decide to purchase additional insurance policies such as homeowner’s insurance, health insurance and life insurance if they have been treated very well by the owner of their auto insurance policy.

Ø Genuinely Interested Referrals

You need to find a way to make your company stand out among your competitors. This is essential in a very competitive and often cut-throat marketplace where many businesses are trying to sell the same products or services. You can start to set yourself apart by increasing your levels of customer service and addressing them on a personal level. This will result in referrals that are genuinely interested, excited and motivated to buy!

Ø Increased Sales

Your revenue charts will reflect any successful marketing efforts. Your company can experience remarkable increases in revenue and customers when your customer base continues to expand. In fact, some businesses have experienced growth of 200 to 300% or higher by utilizing referral marketing effectively. You can retain your current customers and continuously attract new ones. Better yet, referral marketing enables you to achieve these results with minimal money or time.

Ø Enhanced Sense of Ownership

It is a proven fact that solid referral marketing systems that are relationship-based create customers who feel they have a genuine connection or ownership in the business. Clients may begin to refer to their banker as “my banker” or their accountant as “my accountant”. They adopt a different attitude towards the professionals they encounter in your company. An added benefit is the fact that the increased sense of enthusiasm and loyalty expressed by these customers is contagious; it can attract new customers and turn existing clients into long-term, satisfied ones.

Be Business Smart has been created to assist anyone who is setting up a new company and to offer valuable support and advice to individuals who wish to expand their current business.

Did you realise that approximately 80% of new businesses fail each year? You certainly don’t want to become one of those statistics. Fortunately, Be Business Smart can provide you with the help and support you need to ensure your business becomes a success!

Be Business Smart offers two levels of membership to suit your business budget. Here at Be Business Smart, we have a lot to offer any new business, but please don’t take our word for it. We encourage you to browse our website and see for yourself. http://www.bebusinesssmart.com

About the Author

Article written By Michelle L Kirkbride

The Dollar Card Marketing domain was registered in October 2007 and the registration contacts are based out of San Diego, CA. First of all I want to get one thing straight. This is not a Network Marketing Company. What this company does is provide customized bills in many different denominations with your company logo so people who receive these Dollar Bills will have your contact information and know that they are coming from you.

However these bills are for Network Marketers to grow their organizations and Network Marketers are their largest customer base, so I thought this site would be worthy of a review. Right now they will make you customized 1,2,5,10,20,50 and 100 dollar bills. You can purchase Drop Cards, Sizzle Cards or Business Cards for any Business or promotion you choose.

The philosophy behind Dollar Card Marketing is that it’s always a lot easier to pass out money than a business card. Dollar Bills are the most effective Sizzle Cards. And with your name and company contact information on them, imagine the possibilities. You can drop them in crowded areas, leave one at a restaurant you eat with your tip and people tend not to throw these away because of the high perceived value of these.

And they certainly wouldn’t do anything with it as far as discarding them before they at least took a much closer look at them first. This company has made Dollar Cards for a wide variety of industries other than Network Marketing. They’ve done cards for Auto Dealership, Car Washes, Internet Marketing, Tattoo Parlors, Insurance Agents, Restaurants, Health and Wellness, Legal Firms and Travel Agencies just to name a few. You can view plenty of samples on their website.

If you want to sell the Dollar Card Marketing services, the company has a referral program which is free to join and it only takes a minute to do this. The company pays $20.00 per sale on personal referrals and $20.00 per sale on sub-affiliates you refer to the affiliate program that go on to make sales themselves.

However don’t signup as an affiliate and try to buy through your personal referral link because this company doesn’t allow this. This company also has a marketing blog where they post free marketing tips and how their products can blend in with your current products you promote.

As of the time of this review the lowest quantity you can purchase is 1000 cards for just $145.00. This is a great deal when you think about it. You can even purchase 10000 for $695.00. According to the website owners Tweets this is a pretty popular product and they don’t seem to be affected by the recession in anyway.

I think Dollar Card Marketing is another great way for Network Marketers to get their brand out there. But what I would do is put your name on each card you have printed. Remember brand yourself while you brand the company you are representing at the same time. Reason is if you ever leave a company, people will tend to remember your name over a company name. So if you do get some of these make sure it benefits you long-term.

Learn more about Multi Level Marketing and Dollar Card Marketing from MLM Review Kings Brian Garvin & Jeff West.