“The one area that I think everyone was in agreement with today was the impact your model has on generating referrals from existing customers. Why does this work so well for almost everyone I have spoken to?”
The way that we generate referrals is very different I think to the way a lot of businesses do it. They will run a referral campaign going – if he refers something to buy or to join or to sign-up then we will give you “x”. There is nothing wrong with that, I mean American Express have built their business on it, with the whole idea that if you refer somebody you get a clock radio and that has gone for 40 years and they are a multibillion pound or dollar company.
What we’ve done is, like I say, with the performance enhancers and behavioural stuff that we do with referrals we have sort of literally crammed so much in to create a model that is really, really effective. So, for example we create scarcity with the referral campaigns, they run for 24 hours and 48 hours and we will say to people, you can refer as many people as you want but you have got a timeframe to do it. So, there is a bit of a countdown, there is that fear of loss, that scarcity issue and that kicks in. We also then build a, sort of, a win, win, win scenario. Yes the business will win because they will get referrals, but we package it in such a way that the person referring will get something, the person that is receiving – the referee – is receiving something, so you create this triangle of winning really and ultimately you then focus on this as a social proofing aspect as well. You are getting existing customers to say that this is worth trying, I think you should try this. Then when you overlay that with some sort of freemium model, which is this, a free trial and free experience, it’s a free product to start with.
Then all of those things that come together over a very short period of time creates – it almost causes a frenzy – as people are rushing and rushing to get their friends in to something that’s free and then behind the scenes the software is working away, so once the referrals are generated, they are automatically sent information going… you’ve been referred, if you would like to take this to the next step, click here, do this, so it’s like an automated process in a very short period of time where you can generate hundreds, thousands, tens of thousands – depends on the size of your database, but tens of thousands of referrals in literately 48 hours.
If you are interested in how we can implement our Behavioural Selling Model™ into your business call us on 0870 742 4458.