Texas Tech University

Why Referral Marketing Works and How to Use It

Fourth Source

April 9, 2015

Fourth Source - Marketing can be expensive and time-consuming. Referral marketing is anything but this. In fact, referrals are the cheapest and most effective form of marketing and shouldn't be ignored. In its simplest form, referral marketing doesn't cost a dime.

According to Texas Tech, 83% of satisfied customers are willing to refer a product or service but only 29% actually do. This problem has an easy solution: the please and thank you formula. Remember, most people that received a good product and service are willing to refer it, so don't be afraid to ask them to!

Read the rest of the column here.