Reward Referral System

by admin on August 2, 2010

This is based on giving your clients or customers a monetary reward for referring someone.

You can also give away gifts like a set of knives, glasses, china. The monetary way is an easy way to develop this program. For every referral, you could give them $10. If they give you one to three, that’s $10 each. If they give you four, the 4th receives $20. It’s a way to get them to refer more.

You can create a whole program within your business. If you send out newsletters on a monthly or bi-monthly basis, you list the customers who give you referrals in that newsletter.

I was recently in my chiropractor’s office. When you first walk in, you see a big board listing all the names who referred people that month, and next to their name is the number of referrals. I don’t know whether he gives them a reward or not, but he should be.

Rewards that are monetary tend to be better than discounts because that’s kind of a conditional reward. You’re not giving them a gift, you’re saying, “Well, here’s a reward, but the only way you can get it is if you buy something else from me.” They do work, but in order of importance, the monetary award is better than the discount coupon.

Some state associations frown on your “buying” customers that way. Some people claim it’s not ethical. So, you might consider gifts such as jewelry, movie tickets, ball game tickets, dinner, massage, etc.

You can go out to local businesses and get free gifts from them. If these businesses are credible, they will give them to you for free so they can get someone to frequent their business. Remember the “free cookie” approach? It will actually cost you nothing. You could give them a choice of free tickets, free dinner, or a miniature golf game.

If you up the ante for more than one referral, they will keep referring because they will want the valuable gifts you are offering. Most people like to be recognized and see their name in print so they will appreciate the newsletter recognition.

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