The digital revolution has doing business easier than ever before. Technology is being used in all facets of life. Digital Ad spending is well into the billions of dollars for US companies. While companies spend billions to make you aware of their products and services, there is a secondary, tertiary and so on level of awareness that takes place. People love to share with others when they have had a great experience with a product or service provider purchase. This can also be the case when someone has a bad experience with a business as well. Regardless, people love to share their stories.
Referrals turn your satisfied customers into very convincing cheerleaders to new potential customers. They’ve paid good money for your product and if they’re happy with it and the return-on-investment they’re getting from it, that’s a powerful selling point to others.
- Social currency: We share what makes us look good.
- Social enrichment: It makes us feel good to know we’ve helped someone save time or money.
- Triggers: We share what’s at the top of our minds.
- Emotion: We share what we care about.
- Public: We often imitate what we see people around us are doing.
- Financial & emotional value: We share things that have value to others.
- Customer stories: We more often share stories, not information. Information does, however, create awareness.
“For instance, it’s kind of scary to purchase a $500 stereo speaker from a brand you’ve never heard of. We often reach out to others to gauge their possible experience with a product or company. Referrals & recommendations remove the anxiety, research time and sometimes brings about cost savings by asking others who might have more experience in purchasing and using a product or service”
Think about the last time someone asked you to recommend a new restaurant, realtor or home specialty contractors such as an electrician, plumber or handyman. How did it make you feel to know you helped someone save time or money searching for something that you had already vetted and used? It was probably recently. That is what Social Enrichment is all about. The aforementioned businesses count on your valuable recommendations in order to survive and grow their business.
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