Build Referral Source Relationships
There are numerous ways that social media can directly land you new business, but there are also ways that using social media effectively can indirectly land you new business – namely referrals. Specifically, you can use social media to land new business and build relationships with potential referral sources, be it with consumers or companies.
For instance, a great referral source can be found in other companies that are in related, but not competing, businesses to yours. This allows you to help each other sell products and services on social media networks and through other avenues.
The benefits of using social media as a marketing and promotion tool for your business are revealed in the facts and figures as well:
• 92% of shoppers have more confidence in information they find online than the information they receive from a company source
• 90% of online consumers trust recommendations from people they know
• 70% of online consumers trust unknown users
• 27% of online consumers trust experts
• 14% of online consumers trust advertising
• 8% of online consumers trust celebrities
• 51% of consumers use the Internet to find information and read what other people are saying before they make an online or offline purchase
• 45% of consumers say that the reviews of products and services on social media networks of people they follow have an influence on their purchasing decision
• By adding customer and shopper reviews to a business website, you can boost your conversion rate by over 20%
• 63% of consumers consistently read reviews before they make a purchase
• Social influence is 90% of every purchase (be it online or offline)
Tagged with: build referral source relationships • Business • business website • company source • consumers trust • media networks • new business • referral source • referral sources • social influence
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