7 reasons why Referral Fridge Magnets are brilliant at pulling in new customers.
It costs very little, is dead easy to set up, and it gives your business a simple long-term strategy for acquiring tons of good customer referrals.
So let’s talk about Referral Magnets and how they’re already helping our clients to reach out to new customers easily and quickly…
Here’s the concept in a magnetic nutshell;
Hand out two or three Referral Fridge Magnets to existing customers with every sale.
The Magnets will usually promote a special introductory deal or discount for their friends.
Your existing clients slap the Magnets onto their fridge for safe-keeping until they have an opportunity to pass on this welcome gift to a friend.
It sounds so simple.
But here are some of the reasons why such a simple concept works so brilliantly…
People like to give away things of value to their Friends.
Well, ok, maybe not everyone in the world.
There’s a grumpy guy down at Smokey Joe’s Business Bar who would probably refuse to share the fluff from his belly button with a lifelong friend who saved his life. Twice.
But as a general rule, people get a sense of reward and satisfaction if they can give away something of genuine value to a friend.
Especially if it only takes a second and it doesn’t even cost them anything at all.
Your existing customers are essentially being given a chance to do their friends a big favour and say;
“Here, take this and save some money. It’s on me. This is why you’re so lucky to have me as a friend. I’m amazing, aren’t I?”
Well, actually, they might refrain from using those exact words.
But I think you know what I mean.
Far too many Referral campaigns end up in somebody’s bin.
And this is often down to the format on which it was printed and presented.
The actual incentive and idea behind the campaign may have been pretty promising, but it was let down by a format which nobody felt compelled to keep or pass on.
A typical Referral Promotion has quite a perilous journey to make before reaching the ultimate goal of getting redeemed by a new customer.
After you’ve distributed them, you’re relying on the hope that your existing customer will keep hold of it for a while until the right moment, and that they’ll be prompted to remember to actually give it away to a friend.
You’re then relying on the hope that your potential new Referral will keep it safe and top of mind until they need to use it.
That small journey is packed with danger spots in which somebody at some point along the line may instead decide to just get rid of it or shove it in a drawer where’s it going to get forgotten.
The risk becomes even greater if your Referral Promo Product is just a boring cheap card with bland design or just a slip of paper.
Who would really feel the urge to keep hold of that?
A Referral Fridge Magnet with vivid artwork printed in full colour on gloss stock will grab attention and get used in the right way.
It’s a more attractive and much handier format.
Both your existing customers and new referrals will feel more inclined to slap it onto a fridge or a magnetic surface where it will actually be on permanent display and kept top of mind until those perfect moments.
That’s so much more powerful than getting crumpled up in somebody’s pocket or placed out of sight and out of mind forever.
Fridge Magnets are far more likely get noticed, get put on show, get remembered, and ultimately get used.
Whether you run a physical store or a purely online business, you can choose a very simple strategy tailored to your business model and your breed of customers.
A brick-and-mortar business might encourage new customers to physically hand over the Referral Magnets to claim the incentive on their first visit.
(A big advantage with this approach is that you actually get the Magnets back to distribute again, so they’ll last far longer!)
Alternatively, an online business may choose to print a Discount Code on the Magnets which a new customer can enter during their first online checkout.
(To keep things ultra-simple, an identical code could be printed on all Magnets which is only valid for new customers, but you could also consider printing unique codes if this can be implemented into your system.)
The actual incentive itself will usually be an enticing discount or special deal or free first appointment for new referrals, but it can be just about anything that best suits your business and is likely to attract interest from newcomers.
This incentive can be as small or as big as you can realistically stretch.
A giant whopping incentive is obviously more likely to generate attention, but even a relatively small discount still has the capacity to get passed onto a friend and ultimately redeemed if presented in an appealing way.
If you’re interested in pursuing a more complex approach, you might also consider a strategy which rewards both parties.
“Refer a Friend and you both get $20 off!”
This kind of approach will require more work to implement and maintain but it obviously delivers an even bigger incentive to your existing customer to give away the Magnet in the first place.
We can help brainstorm you the ideas and strategies that are likely to work best for your business.
Our marketing boffins are quite clever like that, especially after several cups of very strong coffee and a cinnamon doughnut.
So many businesses devote huge resources of energy and budget on marketing to potential new customers.
It can be exhausting, all-consuming and very expensive.
One of the big benefits of Referral Magnets is that you’re not running up a dangerously high Ads bill or spending all your time on keeping everything on the right track.
Your only outlay is the low cost of the Magnets themselves.
And your existing customers will be doing most of the real work for you!
That leaves you free to spend more money and time on developing and improving other crucial areas of your business whilst those Magnets are getting passed around and redeemed by your customers.
Getting new customers can always be a bit of a gamble.
On the whole, you hope that you’ll pick up some great customers who love what you do and visit your business frequently to spend big amounts.
But you usually have to accept that you’ll also pick up plenty of less devoted customers who don’t visit very often or just make life very difficult every time they do!
Here’s the thing;
Your best customers are only likely to refer friends after carefully considering which of their friends are in regular need of your services and will benefit the most.
And this breed of friend is the one most likely to develop into a great frequent customer themselves.
So you’re actually targeting the perfect type of new client but your existing happy customers are doing all the targeting on your behalf.
Your relationship with this new referral will also get off to a much stronger start because they already have more trust in you.
You didn’t capture them with a sneaky Ad or an offer that sounded too good to be true.
You captured them with a genuine recommendation from a trusted friend.
And marketing doesn’t get any more powerful and credible than that.
Old Bert has a little fridge in his office to store all his banana milkshakes.
And the fridge door is currently crammed full of Referral Magnets from all sorts of places including the local Sweet Pastry Shop and the Umbrella Repair Boutique.
Sadly, he doesn’t get many visitors to his office – possibly because of the sign on the door that reads “KEEP OUT – DANGER OF CONTAMINATION”.
So maybe that was a bad example.
But on a slightly more serious note, we’ve already been working with a stack of businesses on this concept and we’re hearing terrific feedback about the results.
Business owners are expressing surprise and even mild amazement that such a simple low-cost strategy is pulling in so many new customers.
One business owner conveyed a feeling of mild discomfort in his elbow, but it turned out that he’d sent us the wrong email.
Finally, don’t forget that the Fridge Magnet is a very flexible format!
Your professional artwork can be printed in full colour on super-glossy stock in pretty much any shape you can imagine.
Cars, Capsules, Bite-Outs, Shoes, Telephones…
Take a look at the price calculators to see some of the popular standard die-cut shapes that we can provide with very little difference in cost.
So, we can help with your tailored idea and strategy.
We can provide the smart graphic design that will grab attention and convey the incentive.
And we can produce the polished products in standard or die-cut shapes on premium gloss stock.
(Old Bert says he can also supply you with the Fridges, but I don’t think he’s fully grasped the whole concept. I couldn’t have made it any simpler.)
So is your business ready to attract tons of new referrals?