Referral fees, affiliate marketing, finders’ fees – they’re all the same thing which is a reward for someone referring a business contact.
In my view referrals are one of the most effective business building opportunities available. The trouble from a yoga studio owner is getting people to refer yoga students to you. You hope and trust they will because you’re yoga studio is so great.
Some of your yoga students will do this for you and that is excellent for your yoga business. However, some people need an incentive to send referrals to you.
An obvious incentive is money, free classes, merchandise, books, etc. However, if you’re not prepared to go the cash or merchandise route, consider a referral incentive where you will give a set amount to a charity of the referrers’ choosing.
You can’t go wrong here; not quite as strong as an incentive as cash or merchandise, but it certainly is an incentive that will get attention and likely your studio yoga students.
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