place a higher priority on driving referral Nielsen research in the United States found that people are 4 times more likely to buy when referred by a friend. This is an important statistic, given research showing that word of mouth is a more important driver of business in 2017 than advertising or history. Nielsen research […]

place a higher priority on driving referral Nielsen research in the United States found that people are 4 times more likely to buy when referred by a friend. This is an important statistic, given research showing that word of mouth is a more important driver of business in 2017 than advertising or history. Nielsen research also found that 92% of respondents truste referrals from people they knew. Given the importance of credibility and trust in business in 2017, this is also a very important statistic. There is a great deal of potential in driving referrals. It is also interesting to note research undertaken at Texas Tech University, which found that 83% of customers are willing to refer based on a positive experience, but only 29% do so. There is something going wrong here. So, how do you address the issue of referrals? Here are three insights: • Only 30% of…