I don’t know any business owner who doesn’t want more referrals. Referred customers are typically the best customers. On average, they spend more, they’re easier to close — partially because they don’t shop around much, if at all — and they stay your customers longer. What more could you ask for?
But, most people do very little to get new referrals.
Personally, I’ve been guilty of this recently as well. Of course, we send our newsletter and have had a small promo running quietly, and those two things have brought in a respectable number of referrals over the last 12 months. But to be honest, we haven’t been trying hard.
Not trying has been a mistake.
Given the facts above about how good new referred customers are, it was easy for me to conclude two things:
- We didn’t spend enough of our marketing budget on referrals.
- I would be willing to invest more money for each new referred customer than customers acquired by other means.
With those two points in mind, I laid out a budget. And now we’ve officially launched our referral contest, where you can win a trip to Las Vegas!
Once you sign up to be a part of the “Win a Trip to Vegas” promo, all you have to do is send us one person — and that person must become a customer for one of our custom newsletter products — and you go to Vegas. For all winners, we cover the hotel, airfare, and an awesome “race-your-favorite-exotic-sports-car” experience.
It really is that simple. The trip is taking place in March of 2017.
I’m a firm believer that people prefer experiences over stuff, and I believe that becomes even more true the higher up the socioeconomic ladder you go. So, right off the bat, we knew we wanted an experience. I thought about having everyone come to Boise for a mastermind experience, but concluded that may not be enough to move people.
Although I haven’t been to Vegas since my 21st birthday, I know many people love it. Hotels are abundant, airfare is reasonable, and if we add in the chance to race an exotic sports car around a racetrack at speeds of 150 mph or more, we have the makings of an awesome experience.
Here’s the 30-second breakdown:
- Airfare included.
- Luxury hotel.
- Race exotic cars.
- Ultimate Vegas experience.
What red-blooded capitalist wouldn’t want to do that?
We knew that we’d have a few people who referred more than one person, and frankly, those connectors are a special group, and we wanted to make sure we took good care of them. For these hyper-referrers, we added two additional bonuses.
When someone refers two people into the program, they can bring a friend to the experience with them, and we’ll cover the airfare and race car experience for them as well.
When someone refers three people, we’ll also have $1,000 cold, hard cash for them to hit the town with.
Of course, if someone refers more than three people, I’ll come up with additional cool prizes. And for those who refer two and three people, I already have a few special treats in store for them.
This is going to be an amazing experience all-around. I’ll keep you posted with how the program is going.
Before I go though, I do have one question for you:
Are you going to join us in Vegas?
If so, the first thing you need to do is go to www.thenewsletterpro.com/vegas to register for the promo. I guarantee you won’t want to miss this experience. After you register, my office will work to support you in any way you need to make sure we see you in Vegas in 2017!
To your success,