Making money requires you to work, but working for money is quite tedious. The fact is, most people wish they could make a fortune without shedding a drop of sweat? But success and wealth are all about being smart, not hard working.
Luckily for you, there are ways to make a living without engaging yourself in tedious work, but instead with a little effort. Thanks to small businesses! The lack of initial clients within small companies offers an opportunity to make a lump sum amount of money.
All you have to do is mine for the customers and bring them into the business. Although this earning method will require you to do some passive work upfront, it can set you up to make passive income for years, if not decades.
If it’s your friend or relative who’s started a business, only a close-knit group likely knows about it. Customers don’t know the size of the business; neither do they know the duration in which it has been in existence. By referring customers to the Small business, you’ll be helping the owner’s brand grow. But it would help if you also benefited from it.
Don’t expect to earn much from referring customers to a single business, but you’ll make something because you haven’t worked for it. You only earn passively by merely directing customers to the business, not carrying them there.
You can also be smart and start your referral business. Yes, you’ll have nothing to sell, but you can convert your kindness into a business. Gather customers and refer them to companies and then earn dollars out of it.
By establishing a refer-a-friend campaign, you’ll be helping the business and brand gain trust. Test the brand before recommending it to other customers to prove your authenticity. Then agree on a retainer or commission package with the business owner for every customer you refer to the business. The more customers you refer, the higher your chances of reaping big.
The refer-a-friend campaign has been one of the best marketing strategies that have helped small businesses grow. According to the Market Force, one customer can refer 81% of online consumers to a business. Regardless of the size, these customers will repeatedly come back for more products and services.
Another study by Google/Ogilvy/TNS estimates that 74% of customers rely on oral persuasion as the primary influence on the purchase. A similar study by McKinsey shows that you can earn smartly by influencing 20%-50% of Customers’ decision to purchase a product from a particular business.
Nevertheless, a suitable referral campaign is crucial if you want to make money. The primary factor to consider is your ability to explain and convince the consumers why a particular brand from a specific seller is better than the competitors.
How to Market Your Campaign
I’ll start with the basics, but don’t leave the article. Having a refer-customer program is one thing, and marketing it to your prospects is another. You can have the program and still fail to make a dollar out of it. You, therefore, need to know how to get started.
It can be easier to target a small crowd of customers. If you need to capture the attention of 15-20 consumers, you don’t need a program. You can call them and direct them to the business, and earn your small commission. But the amount you get might only be enough to buy you a drink.
If your target is to make hundreds of dollars, creating an online referral program can serve you a good deal. You capture dozens of customers, lead them to your website or blog, persuade them to click on the link to purchase a product (if the business has a website), and automatically earn from the purchase.
Nevertheless, you need to be proactive and blast the refer-customer campaign as if it were a megaphone. Remember that you need to mine those dollars by making customers visit a shop, and they will not get there through you unless you make them know that you exist.
Make them aware of your campaign. Ensure that you promote your campaign actively to reach as many customers as possible and persuade them on the benefits they will enjoy once they participate in the campaigns.
If your service and support are already impressive, the customers you will help through talking about you. Combining the referral program strategy with the word of mouth referral using your unique support channel gives you a better opportunity of unlocking a ton of other customers looking for product and services of the business you are promoting.
This subjects you to two benefits, earning from the business itself and the referrals as well. You can sign up on my site, and I’ll guide you on how to scale your business online.
Finding the best way to reach your prospects can prove to be a challenge. Unless you adopt a proper marketing strategy, your campaign may not drive any revenue into your wallet. Try to promote your campaigns via emails, social media, SMS, and other marketing platforms.
You can also give brochures to friends and relatives. The point is to make your campaign accessible among prospects. You can also choose good referral program software to reach out to the people.
Try the Social Gifting Concept
Trying social gifting to refer a friend to a business can work miracles. If you are an already customer for the small business, you can reach a consensus with the owner. Any first-time customer gets a reward, but you reward the customer yourself and cover it with the commission you get once he buys from the business.
Once the customer benefits from the reward and the product, they will refer their friends to you, whom you will direct to your campaign program and direct to the business.
Work is essential for you to earn a living. However, you are not obliged to work tirelessly to make money. You can earn passively by coming up with strategies that will help you make money, like referring customers to a growing business.
About the Author
Douglas James is well known business coach who teaches and empowers entrepreneurs to find and retain high-ticket clients, so they can automate their business growth.