One of the most powerful ways to drive your small business growth is through referrals. You’ll likely find that, if they’re getting something out of it, your contacts will be willing to provide referrals, and as a bonus, the new customers you’re gaining come pre-qualified. A fellow business owner has told them your product or service is worthwhile, and that will encourage them to try it.

As referral marketing technology platform Extole writes on its blog, “A solid Refer-a-Friend program will lift all of your non-viral customer acquisition channels and provide the foundation for sustainable, long-term growth from word of mouth.” In other words, even a modestly successful referral program can be a massive boost to your bottom line because it will act on every channel you’re using to help acquire customers.