By far, the single most effective and inexpensive marketing tool is referrals. Simply stated it is a ‘Selective Word of Mouth’ form of marketing. The key to its success relies in the ‘Ask’.
Referrals are often used to expand the number of clients or customers for a business. According to the New York Times, 65% of new business is referral generated. The most common source of referrals is your existing customers or clients.
The three best methods of marketing include education, referrals and involvement. Unlike advertising, marketing is a human contact sport. If you truly want to expand operations, there are no other more effective methods than educating the customer, getting referrals and getting involved with the customer.