Referral marketing is an unmistakably powerful way to grow your business. Its power and impact can be largely summed up with two simple statistics: 83% of consumers place trust in recommendations from friends, and 66% trust consumer opinions posted online.
The simple truth is that people are much more likely to trust other people, before they trust a company.
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Unfortunately, referral marketing is largely underutilized by small businesses because of the misconception that it is both time-consuming and expensive to execute.
Let’s dive in to see why that’s inaccurate and how you can quickly build a successful referral marketing campaign with a small budget.