QUESTION – how do I maximise repeat business and referral rates?THOUGHT – make it easy to repeat and referResearch completed in 2018 reported that a referred customer is worth up to 16 times more – in terms of lifetime value – than a customer generated by way of promotion. It is a staggering statistic!   […]

QUESTION – how do I maximise repeat business and referral rates?THOUGHT – make it easy to repeat and referResearch completed in 2018 reported that a referred customer is worth up to 16 times more – in terms of lifetime value – than a customer generated by way of promotion. It is a staggering statistic!   Another study in the same year found that a referred customer is four times more likely to purchase than a customer generated by way of promotion. These are two rather compelling reasons to divert resources away from promotion and into actively driving referral. It begs the question – why are there advertising agencies all over – but few, if any, referral agencies? A business opportunity? Maybe! With this in mind, it seems important to make it as easy as possible for satisfied customers to refer. You might think they should make an effort to refer,…