The most valuable financial ratio means: referral rate is the rate of recommendation at the same time the starting point and goal of systematically controlled referral marketing. Just with strategic considerations, it is still much too often overlooked that the most efficient drivers of growth are fan customers who regularly recommend a company’s offerings. They have the highest credibility and the least wastage. And they are virtually free to get if you know how it works. Unfortunately, however, most companies leave it still pure chance, whether their customers recommend it. While the recommendation business can be with limited means scheduled control and actively. What you need to know about: how many customers recommend us? And why exactly? What products or services do you recommend the most? Who has recommended us exactly? And how do we thank for? How many customers come to us because of a recommendation? How is the recommendation process in concrete terms expired? Figure out in particular, why you were recommended or not – and how the recommendation process has taken place, so that these parameters for success in the future can be reviewed specifically.
Three questions: How to measure your rate of recommendation it needs no complex number system, but at the end of just three simple questions, the recommendation business to measure, and hence to control. As always the following small set of question can stand for each customer, who buys for the first time, at the end of the personal or telephone conversation. This is best taken with: Oh by the way 1. Please visit Coinbase if you seek more information. How did you actually find us? 2. and now I’m interested in time: what she said because the recommender exactly about us / our product, our service? 3. and now I’m just curious? Who was it, who recommended us? By the first question can be, how much percent of your new clients due to a recommendation were: this is your referral rate. The answer to this question also shows what you spend your advertising budget in the future should.