In the words of Henry Ford, “I know half my advertising doesn’t work; I just don’t know which half.”
As small business owners, we face an overwhelming array of marketing options, with paid advertising being a common go-to method. However, the truth is that paid advertising can be a hit-or-miss approach, lacking guaranteed success. Fortunately, there is an alternative that can bring long-term value to your business: building high-quality referral relationships.
The Benefits of Referred Business
While I may be biased, there are several advantages that referred business holds over paid advertising. The foremost benefit is the level of trust that referred customers have in your business even before they meet you.