While watching some television the other night, I, as many of you probably do as well, was channel surfing. Instead of doing the obvious time saving technique of actually reading the weekly TV guide that comes with my local newspaper, I decided to sit in my chair and flip through each channel until I found something I liked. Why we do this, who knows? But it is very common I am sure.
While moving through each channel I stopped on a movie that I absolutely love called El Dorado. It stars John Wayne and Robert Mitchum and is a pretty good film.
During a commercial break there was an advertisement for the local cable company. The ad said something to the affect of, if I upgrade to digital right now along with a friend who is a new subscriber you get 3 months of digital programming absolutely free.
I was thinking that’s not a bad deal. The only problem is, everyone I know already has cable television. Nevertheless I thought it would be a perfect topic for today’s article and that is rewarding customers who refer new business. Its like marketing and not having to pay for it until you actually make a sale.
Whether you run an online business or brick and mortar establishment, this is a good way to generate more revenue and more importantly, build your customer base. Lets say for example you run a website that sells a monthly subscription to widget digest. It doesn’t matter what widget digest is. Just know for now that you sell it.
In this example you can easily offer to a current customer that for every new customer that signs up that was referred to your company by them, the customer will receive ‘x’ number of months added onto their subscription. Depending on how much you charge for a subscription that could be a substantial savings. A savings that is sure to get your current customers motivated to work for you in obtaining new customers.
This is how the example would work if you had a monthly subscription. You could also tell your existing customers, that if they refer new customers, they will receive a gift card for a purchase at a later date of another product you might sell. If you are a service oriented person, such as you hang drywall for a living, you could offer to paint a room for them if they refer a person who needs some drywall work done.
As you can see, the possibilities with this type of marketing are endless. You can offer free products, coupons, further discounts, you name it.
Sit down and decide what offer will be best for your company to make it worth your while. Write up the plan and the execute it. If done properly you should be getting those new customers in no time.
Now let me see if any other good movies are on right now.