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4 Things all businesses should do amid the Coronavirus
“What’s more left to say about the virus outbreak and its effect on the economy?” When I started the research for this article, I felt bad about it; I didn’t want to look opportunistic. But as I researched more, I realized that this article is precisely what I should be doing- you’ll understand why further down. The COVID-19, a.k.a the Coronavirus, a.k.a. the thing that made us spend a tremendous amount of time at home (shout out to those who are living all alone) already left a footprint in the worldwide economy. So, the biggest question is not how it’s going to affect the economy, but how it’s going to affect businesses...
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<p>Customer referrals are are among the most sustainable and cost effective ways to grow a business. Referral marketing is the process of proactively managing and accelerating customer referrals. Referrals can be accelerated by prompting customers to share at points of delight within your product and making it very easy to share. A/B testing prompts and sharing steps can help you optimize your referral rates. An NPS (net promoter score) survey is a good way to assess the likelihood that someone is willing to share your product. While referrals are largely a function of customer delight for a product, some product categories are more likely to drive referrals than others. An example of a category that would likely have a low referral rate would be adult diapers, because people may be too embarrassed to admit to using them.</p>