word of mouth

Credit where its due - cashing in on the referral economy

Referrals Not Earning Small Firms Commission

Chris Stening, MD of Easynet Connect argues that the ‘referral’ economy is alive and well, but small businesses are missing out. In their latest report, Credit where it’s due – cashing in on the referral economy Easynet looked at the value of, and the barriers to, referral schemes in the SME market. The ‘referral’ economy, whereby businesses refer their favourite suppliers to others in return for a small amount of commission, is a natural development of the personal recommendations that businesses make every day. They found that that a staggering 81% of SMEs regularly refer business to others, while failing to earn a single penny in commission for doing so. SMEs make, on average, three recommendations every month, with the average value of the referrals ... »