Article

Peter Cunningham
Peter Cunningham 14 January 2016
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Why Smart Companies Launch Their Referral Marketing Scheme In January

There are actually four very specific reasons why we launch more clients in January than any other time, and I'd like to share them with you.

So about now you probably are back in the office, refreshed from a well earned break after a hectic period. As well as reviewing your performance in Q4 2015 perhaps, with new budgets now in place, you will also now be looking for fresh new ideas that will make a real difference for you in 2016?

Now is a great time to think about getting a referral scheme in place or, if you already have one, looking at how you can improve the performance of your scheme in line with the ’best in class’ examples on the market.

There are actually four very specific reasons why we launch more clients in January than any other time, and I’d like to share them with you here to see if they resonate:

  1. Customers are more likely to tell their friends about you soon after they themselves have made a purchase. And, given that you’ve probably just made more sales in a month than you do in most quarters, that means there’s a lot of happy customers out there, ready and willing to spread the word about you to their friends.
     

  2. Customers don’t come cheap at this time of year. You’ve been cutting prices since Black Friday, and that’s okay - you’ve picked up a lot of new customers in the process. But now you need to start extracting value from them, and the best way to do that is by getting them to introduce their friends. When you start getting two, three, four new customers for the price of one, suddenly the numbers start to look much healthier.

  3. You’ve invested a lot in attracting new customers, so it’s vital that they stick around long enough for that investment to pay off. Once a customer refers their friends, they’re much easier to retain and they become significantly more loyal - they’ve invested in your brand and their friends have turned up to the party. So you need to give them the tools to make those referrals before it’s too late and they wander off elsewhere.

  4. This one speaks for itself. It’s January. It’s the month after the month after ’the Month’. Christmas is over, your winter sale is already beginning to lose momentum and Easter suddenly looks a long way off. You need help to win new business over the next two months, and your existing customers are ready to give you that help by referring their friends. It would be crazy not to grab that opportunity right now.

Let’s talk Referral Marketing!

If you are looking for innovative ways to make 2016 a vintage year for your business, then drop us a line and we will be delighted to show you the how the latest generation of referral marketing software can your drive customer acquisition and reduce CPAs.

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