4 awesome tips on how to succeed in Customer Referral Acquisition

Meeting financial needs in these trying times can seem like a difficult task. However, if you subscribe to potentially high-earning means, especially the IDFC FIRST Bank’s MyFIRST Partner Refer and Earn App, addressing these financial issues can become easier.

Customer referrals are a big part of what contributes towards the integral business revenue as it helps grow your business further and promotes word-of-mouth publicity.

Here are the top 4 practices to acquire customer referrals:

1. Know your customer
 

Before you even think of asking for a referral, understand what your customers need and deliver that seamlessly. From who they are to what their problems are, get to know the nitty-gritty to form a bond with them that is not just transactional but personal as well. This is important as it will help you offer your product or services in a way that resonates with them. 

For instance, if you know that your customer has monetary issues, you can refer them for a personal loan through the IDFC FIRST Bank’s MyFIRST Partner Program. The disbursed loan can help them fix their problems, while you get to earn 1.5% of the disbursed amount for the referral. And once you have shown value, you can then explore customer referrals.

2. Take feedback - positive and negative - in stride
 

Feedback, both positive and negative, can help you grow your business by maintaining things that work for you and understanding the loopholes that need to be worked upon. Moreover, when your clients see you act on their words, it helps them soften up towards you and see your dedication towards your work. This can further help you get word-of-mouth publicity and acquire commendable customer referrals.

3. Find the most appropriate moment to request a referral
 

Timing is a crucial element in business. Instead of rushing into asking for customer referrals, look for an appropriate time to pitch the same. Refer and earn programs are one of the best customer referral program ideas as it helps your customer and you grow your respective businesses. This will also hold their interest and eventually help you grow your professional network.

4. Use social media to promote your services
 

Make use of social media platforms to make people in your circle aware of your products and services. List the benefits that one can avail and the easy process to help gain trust. Social media also makes sharing easier, further helping you spread the word. For instance, if your relative's colleague needs a personal loan, and if they know you can help through the IDFC FIRST Bank's MyFIRST Partner Program, they can easily refer the person to you.

While these simple, yet effective practices can help you get customer referrals, always ensure you follow up through the right channel. This will help you stay engaged with your customers and help resolve their queries if they have any, and at the same time, form a strong professional relationship that can help you to easily ask for customer referrals.

And when you have money earning apps like the IDFC FIRST Bank's MyFIRST Partner App through which you can earn Rs. 50,000 and more per month, why not make use of your networking skills and help others and yourself benefit!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.