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🧠Watch General Marketing videos for free: • Competitive advantage theory 💼 Our FREE Marketing Courses: 🍽️ Free Restaurant Marketing Course: • Introduction for Restaurant Business Marke... 💄 Free Beauty Marketing Course: • Introduction to Beauty 🏫 Free Marketing Course for Education Sector: • Video ☕ Free Marketing Course for Coffee Shops: • Video 🏋️ Free Marketing Course for Fitness Sector: • Video 🏥 Free Healthcare Marketing Course: • Introduction for Healthcare Industry Marke... 🛍️ Free Retail Marketing Course: • Market Research: Gathering Insights for Yo... ✈️ Free Tourism Marketing Course: • Introduction for Tourism Business Marketin... 🏛️ Free Marketing Course for Architectural Studios: • Introduction to Architecture Business 🚀 Explore Your Industry-Specific Marketing Course: https://easymarketingschool.org/courses/ Referral marketing is a way to get more customers by using the networks of a company's current customers to spread the word about the business. At its heart, referral marketing is a way to promote your business with the help of your most loyal customers. In other words, referral marketing is a way to get your current customers to spread the word about your business. What makes referral programs work? Before we talk about how to do it, let's talk about why you should make a referral marketing plan. How do recommendations change things? Consider this A word-of-mouth recommendation leads to at least five times as many sales as a paid recommendation. Referral customers spend twice as much and bring in twice as many new customers. Leads that come from recommendations have a 16% higher lifetime value and a 30% higher conversion rate than leads from other sources. If they could only get information about a purchase from one place, half of Americans would choose word of mouth. Referral marketing and word-of-mouth advertising work well and don't cost much. When we have a good experience with a company, product, or service, we are happy to tell others about it, and we do so often. Professor of marketing and author of the best-selling book "Contagious" Jonah Berger laid out six rules for sharing and word-of-mouth: As social currency, we share things that make us look good. We talk about whatever is on our minds. We talk about things that are important to us. Public: We do what we see people around us doing. We give things to other people because they can use them. We talk less about facts and more about stories. If you hit as many of them as you can, you'll have an idea, product, or announcement that people will want to talk about and share, which will help you stand out from your competitors. It's easy to see: Referrals and recommendations are not only helpful, but also necessary if you want to stand out from the competition. These might be the main thing that sets one product or brand apart from another, even if they are otherwise similar, since people actively look for them. The digital revolution has made it easier than ever to start and run a business, but it has also made competition more fierce. Referrals turn happy customers into strong advocates for your business. They put a lot of money into your product, so if they're happy with it and the return on their investment, that will help you sell it to other people. You can make a self-sustaining lead machine by using simple, mostly automated software to ask for referrals and give rewards for them. You and your brand stand out in a sea of things that are the same. Together with Ral Galera of ReferralCandy, I've put together a few examples of how referral marketing can help you stand out from the competition. #marketing #refferalmarketing #easymarketing Copywriter: Kamran Tagiyev Voiceover author: Jeremy G. Animation author: Asad Asadzadeh Sound editor: Mahluga Taghiyeva Project manager: Kamran Tagiyev