It costs 6–7 times more to acquire a new customer than retain an existing one [Bain & Company, 2013]
What prospects are looking for is a business or service they can trust, and the sources that people find most trustworthy are their friends and acquaintances that vouch for an offering.
This is where Referral Marketing come into play. Referrals are the holy grail of the sales world!
90% of people believe brand recommendations from friends [HubSpot, 2012].
Customer referrals are some of the most valuable sales leads your business can generate, as they present a cost effective way to grow your client-base.
Referred clients have a 16% greater lifetime customer value than non-referred clients [22Touch, 2013].
A study done by 22Touch in 2013 found that 83% of satisfied clients are willing to refer, but only 28% actually do. So by simply putting into place a system designed to trigger the act of referrals, you stand to nearly triple the percentage of you current clients who become advocates for your business and spread the word about you, generating quality leads for your company.
So how can you help to close that 83% – 28% gap in your potential referrals you ask…
Customer Satisfaction Surveys!
A Customer Satisfaction Survey is a simple way to gather insight from your customers after they have experienced your service/product/solution. With a series of simple questions these surveys are designed to gather positive and negative feedback as well as conversationally gauging your clients likelihood to refer you. They can even serve as a way to actually get that on-the-spot referral from them. There are few better ways to go about getting referrals from your clients than through a Satisfaction Survey and here’s why:
It’s “soft selling”
“Soft selling” is a way of identifying your customer’s wants and needs through inquisition and careful listening. It contrasts with “hard selling” which is more probing and pressurised towards fast sales.
By utilising online electronic survey tools you can quickly generate your own customised survey for free. Some online tools that are very popular for this and have free options available include:
This is probably the most well known name in the realm of online survey tools.
The system is well designed, easy to use and surveys are embeddable.
The free version will grant you 10 questions, 100 responses, 15 question types, templates and some customisation.
A premium version is available for those who want unlimited options and the ability to export data.
Although lesser known than survey giant; Survey Monkey, Typeform delivers an elegant interface with a myriad of offerings in their free version.
Their “CORE plan” will grant you unlimited questions, unlimited answers, data exporting, custom themes and templates as well as basic reporting.
The premium option includes additional features such as skip logic, payment fields, calculator features and follow-up emails.
Yet another tool to add to Google’s myriad of instruments. Googles ability to smoothly integrate their varied products could make this the first pick for many who are looking for a 100% free tool.
This unlimited survey tool offers unlimited surveys, questions and answers, lets you add images or videos and custom logos, and is the only free online survey tool that provides free skip logic, as well as automatically collecting data.
It’s easy! Just use our free template!
We’ve already done the hard part for you. Input your details below to receive The Lead Agency approved, step-by-step Client Satisfaction Survey Template and start your Referral Marketing Strategy off on the right foot today!
Our user-friendly and customisable template is the perfect way for your business to ease into the art of soft selling your services.