Avionics News April 2018 - 53

once the referral makes a purchase.
Test out several ideas, with an
eye toward your typical customeracquisition cost and customer
lifetime value, to see what works.
Consider also providing the referral
a reward for doing business with
you - even if it's a lower value than
provided your existing customer. Time
both to occur as close to new-customer
acquisition as possible, according
to referral-marketing company
RewardStream. Follow up with
customers to see how they liked their
rewards; those who did will surely
keep the future referrals in mind.
If you're shying away from
outright rewards, consider hosting
special events for customers who are
likely to refer, and ask them to invite
a potential prospect, according to
Kehrer. This can be an invitation-only
customer-appreciation dinner at a
local restaurant, or flying-proficiency
workshop, or VIP event with a
celebrity speaker at your airport.
Whatever you do, follow up the
referral with an unconditional "thank
you," even if the prospect doesn't
buy. An actual handwritten note
stands out, and it's a personal touch
in return for a personal gesture,
according to Thull. If you can,
refer a prospect to your customer's
business to return the favor.
By making your shop referralworthy and implementing a system
that allows you to ask the right
people the right way, you're on
your way to getting the most out of
word-of-mouth marketing. When
you do, you can rest assured that
when your best customers are asked
by friends if they "know a guy,"
they will - and that guy will be
you. q

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avionics news

*

april

2018

53


http://www.elliottaviation.com

Table of Contents for the Digital Edition of Avionics News April 2018

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Avionics News April 2018 - Intro
Avionics News April 2018 - Cover1
Avionics News April 2018 - Cover2
Avionics News April 2018 - No label
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Avionics News April 2018 - Cover3
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