Why Aren't You Getting Referrals?

 The best advertising is a happy customer. An amazing product turns every customer into a lead getter. 

The world loses trust  by the second. Every day, more customers do their research. They arm themselves with information to make purchasing decisions As well they should. So to play at higher levels, we need our product to not only deliver, but delight. Customers must get so much value it compels them to tell other people about us. The good news is, once you know how, it's easier than you think. 

How Referrals Work

A referral happens when somebody, a ferrer, send an engaged lead to your business. Anyone can refer, but the best referrals come from your customers. Referrals are important because they grow in 2 ways: 

1. Higher Life-Time Gross Profit (they're worth more): Referrals buy more expensive stuff and buy it more times. They also tend to pay in cash upfront. 

2. They cost less (lower CAC): If one customer sends you another customer because they like your stuff, that new customer costs you nothing. And free customers are cheaper than customers that cost money. 

So free customers = good. 

With word of mouth, one customer brings two, two brings four, four brings eight. It's not linear - it's exponential. 

Nothing scales like word of mouth. Want to know why so few people scale by word of mouth? They lose customers faster than they get them. But if the percentage of referrals every month is bigger than the percentage of customers who leave, your business compounds every month. 

Why Aren't You Getting Referrals? 

Most businesses don't get referrals for two reasons: 

1. Their product isn't as good as they think it is. 

2. They don't ask for them. 

Problem #1: The Product Isn't Good Enough

If you sell direct to consumers and they are not bringing you more customers, your product has room to improve. Ask yourself, "Why are my customers too embarrassed to tell everyone they know about my product? It may be okay, but it's unremarkable, as in - not worthy of remark. 

You either have to lower your price or provide more value to your clients. If you choose the smarter route (providing more value) the way you can do this is by selling to better customers, set better expectations, get more people better results, get faster results, keep making your stuff better, or tell them what to buy next. 

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