As a business owner, it is important to constantly be thinking of ways in which you can grow your business. You may decide to do a Pay per Click advertising campaign, invest your time and money in SEO to improve your organic rankings and therefore increase traffic to your website, or to get your existing customers to help.
If you are confident that you offer a good level of customer service and your customers are happy with the products or services you sell, then you can use this to boost your business. Offering existing customers a referral process where they get rewarded will undoubtedly help bring in more customers. You need to make sure that the referral process is quick and easy. Making people wait months for their reward can put some people off. If you have an ecommerce website then you can automatically send people a voucher as soon as the person they referred places an order. This may be money off voucher, free delivery or free gift.
You may also want to give the new customer a special offer too as this will entice the refer and the new customer into completing a sale. Be sure you have a way of tracking the referrals effectively to ensure everyone gets the reward they should.