Free Tools

Is there something you could help your customers with through a free tool? Maybe your tool simulates how a product will look in their home or helps a customer calculate savings when they make financial choices. Consider offering a “freemium” version of your product. Research shows that consumers perceive more benefits and fewer sacrifices with free versions. This can build up a good name for your business and make customers more likely to choose you over your competitors.

Referral Bonuses

Research shows that referral programs can increase a customer’s commitment to your business. You see referral bonuses in both B2C and B2B customer loyalty programs. If you’ve used a grocery delivery service, for example, you might get offered $10 to refer a friend — and the friend saves money, too! Likewise, businesses can offer bonuses to customers who recommend their products or services to colleagues. Research by referral marketing company Extole shows that 13% of friend referrals convert to a sale.