Business referrals are extremely powerful, when someone gives you a new referral, they have already been presold on your business and your products or services.
At Synergy Networking Group, our main focus is to help businesses grow through referrals. We provide a platform for local businesses to connect with like-minded business owners and generate word of mouth referrals.
There is only one person per profession in the group. This organizational structure gives business owners the chance to connect and collaborate with other businesses in order to help each other grow and thrive.
Below are some surprising referral stats
65% of new business comes from referrals.
– New York Times
92% of respondents trusted referrals from people they knew.
People are 4 times more likely to buy when referred by a friend.
85% of fans of brands on Facebook recommend brands to others.
74% of consumers identify word-of-mouth as a key influencer in their purchasing decision.
71% of consumers are more likely to make a purchase based on social media referrals.
Referred customers bring you 25% higher profit margin.
Referred customers are 4 times more likely to refer more customers to your brand.
Customers referred by other customers have a 37% higher customer retention rate.
Referral Marketing Statistics source: Annex Cloud