Can you rely on referral marketing as a significant source of income in your business? How can recommendations from happy clients become a solid marketing strategy?
In the Show..
Nicola Cairncross and Judith Morgan start off the show by sharing their week. Judith’s is all about a week off, Wimbledon and tax refunds while Nicola is noticing a happy and deliberate absence of drama in her life. She can see it coming now and chooses to give it a wide berth, despite not a few anxieties about an upcoming trip to Greece. Nicola’s world has gone bonkers with opportunities she’s now sifting for the diamonds in the rough.
- What’s Fuelled Their Fire?
Nicola – Periscope – everybody’s talking about it
Judith – Spreadsheets all the way to Q1 of 2016
- Client Challenge of the Week
Following on from last week when Nicola asserted that referrals were not a reliable source of clients in any business, J&N explore the topic a bit deeper. Can you/should you incentivise happy customers and clients to recommend you? They point to two trusted colleagues, one of whom accepts no referral commissions at all and another who’s entire business model is based on recommendations. Many big brands now pay their customers to recommend their service to others from Virgin, to Sky TV to Groupon, Naked Wines and Amex. Keep an eye out for how the major players employ referrals in their marketing strategy and start to measure how it works in your own business. Do leave us a comment if you use referrals in your business and can pinpoint directly attributable profits.
- N&J Project Updates
Judith spoke as a panellist on her first Google Hangout to 500+ people and Nicola smashed her targets for June, achieving 200% of forecast (all from referrals!)
- Words of the Week
Nicola – F-bomb (you had to be there)
Judith – Heatwave
- Who or What’s Impressed?
Nicola is impressed by Steli Afti and Hiten Shah of The Startup Chat and Judith by Kate Beavis who launched her Unique Bride Club based on principles debated in previous episodes of the podcast, those of The Automatic Customer.
Enjoyed the show?
Visit Nicola at NicolaCairncross.com
Visit Judith at JudithMorgan.com