How to cut your customer acquisition cost

By Jerry Bellune

Why don’t your customers refer?

Here are 7 reasons from our friend Ruth King:

1. You have no active, non-pressure program so they don’t think about it. No one has ever talked with them about it.
2. You haven’t shown them how to refer. They don’t know who to send referral to and how (email, telephone, text, etc.)
3. They drive prospects away by making them feel pressured into calling you.
4. They feel awkward. They feel like they are selling and they “don’t like to be sold.”
5. They forget. There are no reminders about your referral program.
6. They don’t think it is important.
7. They referred once and weren’t recognized, thanked or rewarded.
If you want to cut your customer acquisition costs, create a referral program:
1. Decide if you will give a gift card for the referral with a handwritten thank you.
2. Let your customers know about it. Put referral details in your newsletters, on your invoices, on the back of your business card.
3. Call 30 days after the sale and make sure everything is ok. Then ask, “Who have you talked with about your new X?”
4. Track and improve your referrals.
5. Post referrals on your social media.

We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633.
Copyright 2020, The Bellune Co., Inc.