What do referrals mean for your business?
Referral marketing is a method of promoting products or services to new customers through referrals, usually word of mouth. Such referrals often happen spontaneously but businesses can influence this through appropriate strategies. Thank you Wikipedia for that overview.
But really… what can a referral do for your business?! The reality is… a lot! Referrals are often the most rapid, cost-effective way to drive business. That is why a referral marketing should be a part of EVERY business, even if it is just a small reminder to your top customers that referrals are always welcome.
Referrals in the health sector bring a lot of value to practices. For example, one referral to an orthodontist could mean $5,000 to $10,000 in new revenue. The same goes for other health sectors. Even if the value of a referral is $500 to $2,000, it can be a reliable way to engage new patients and grow.
Here are a few tips that can help you drive referrals:
Have A Simple Program
Use small referral business cards for your top patients to share with their friends and family. And ask new patients if they are from a referral.
Consider Referral Rewards
There is nothing wrong with giving points to customers that refer you. You can then allow these points to be redeemed for prizes or draws.
Make Great Service A Priority
People refer people because they have a great experience. Ensure the culture in your practice is patient experience first.
eTrove is a platform that allows you to manage referrals and more. Connect with us today to learn about referral programs and getting started with your own mobile app.