As a bank, chances are your best advertising is word-of-mouth. In fact, all things being equal, you would rather have a quality customer recommend a potential customer to you than almost any other form of advertising.
Tag: Referral Program
Customers and prospects universally trust personal referrals more than any other type of advertising. We trust the opinions of friends but we also trust strangers. Nielsen reports that not only do 84% of people surveyed trust recommendations from people they know but 68% of those surveyed also report confidence in reviews from complete strangers. Gaining referrals can be one of the most effective ways to acquire new customers and community banks should have a well-designed referral strategy.