The Game with Alex Hormozi Part 8: Customer Referrals | $100M Leads Book
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Aug 19, 2023 Learn about the importance of customer referrals, different types of lead-getters, and strategies for generating high-quality leads. Discover the power of word-of-mouth advertising and the benefits of customer referrals for business growth. Gain insights on generating more customer referrals and the importance of building goodwill with customers.
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Accidental Word-of-Mouth Success
- Alex Hormozi discovered the power of word-of-mouth marketing accidentally when Facebook shut off his ads for two weeks.
- His business continued generating $500,000 per week, proving customers referred friends.
Jim Launch Referrals
- At a Jim Launch event with 700+ gym owners, almost everyone indicated they learned about it through referrals.
- This confirmed the significant impact of word-of-mouth marketing on business growth.
Referral Growth Mechanics
- Referrals increase business growth by increasing customer lifetime value and decreasing customer acquisition cost.
- Referrals also have an exponential growth potential unlike linear growth from advertising efforts.