Referral Rates Down? Try These Simple Tricks!

For a lot of companies, referral rates are a major source of new business. Referrals to your company can stem from word-of-mouth marketing or even from SEO, content marketing and social media. Your content strategy is key to giving you referral rates a boost. This is the best way to spread word about your business and potentially generate more traffic. If you haven’t already done so, it’s time to build a referral program.

Once you’ve done that, you can take the following steps into consideration.

Start Spreading the Word About Your Referral Program

You can’t expect to increase referrals if no one knows you’re even looking for them. You’d be surprised to learn what customers are willing to do if you simply ask. Of course, it’s not always that easy, but it does help. You should begin by informing your current and past customers, as well as your social media followers about your program.

SEO companies recommend dipping into your current customer base for referrals because they already have a history with your brand. They’ve purchased your products or services and if they liked it, they’re more likely to pass on the word about your company. The same goes with your online following. Social media can be a gold mine – anyone who’s following you has shown interest in your business. This means they may be willing to tell their family and friends about you.

Email marketing campaigns and social media marketing strategies are great tools for promoting referrals to companies.

Promote Referrals Before Purchases

A lot of companies focus on asking for referrals from paying customers. But in reality, you don’t need their money to get a good lead. Let people know they can refer others to your company without buying anything, and that they will still get the referral reward. Heck, this may even get them to finally commit to a purchase!

Reward the Advocate and the Friend

It’s not common for businesses to reward both the advocate and the friend they refer to the company. This is known as a two-sided incentive. Rewarding both parties will give them reasons to follow through and purchase from your business. It will also keep the referral process going – the friend of the advocate could earn double rewards by buying from you and then referring another friend to your organization.

Make Your Incentives Compelling

One way to pull this off is to make your incentives very enticing. Some opt to give the friend of the advocate a bigger reward, so they’ll follow through with their purchase. This also makes the referrer feel as though they’re looking out for their best buds. The incentives you offer could be a 50 percent discount on the purchase, a free product or service or something entirely different. Test out different offers to see what works the best. An SEO company can help you determine the incentives to offer and how to market them.

Make Your Referral Program Front and Center

You can do this by featuring it on your main website and on all of your social media profiles. Let it be known that you’re offering great rewards for referrals. The more people that see it, the better your referral rates will be. People today are always looking for deals and to share their experiences with brands. An SEO professional can help your company by designing the ads for your referral program. The more visible and prominent your ads are, the more likely they will be seen.

So what are you doing to boost referral rates in your business?

Find Cheap Life Insurance Policies Today!

Would you like to find the lowest rates for your life insurance policy? If you do wish to find the cheapest life insurance possible, this is your lucky day. Here I will tell you how you can find cheap life policies online, today!

Did you know that over 90% of people in United States are paying too much for their insurance? Policies for life insurance are no exception here, most people could get a more affordable life policy very easily.

Since you are searching for cheaper insurance, you have obviously realized this fact, which makes you an intelligent consumer. You should never pay too much for any service or product!

How to Find the Lowest Rates Online

Whether you are looking to buy term or whole life insurance, the only way to make sure that you find the cheapest insurance provider is by comparing them online. These days all the lowest prices are online and that is why you also want to get your insurance online.

Also, the key here is to compare rates from MANY different companies. The rates for life policies can vary SIGNIFICANTLY from one insurance provider to another and that is why getting price quotes from various insurance agents is important.

Getting life policy quotes online is very easy, anybody can do it. It doesn’t take much of your time and it is completely FREE for you. There also are no obligations for you to buy insurance from any of the companies that provide you their price quote.

So if you wish to find some cheap life insurance policies right now…

New Life Settlement Legislation Could Set Stage for Other Financial Products

Texas Governor Rick Perry passed the nation’s first Medicaid Life Settlement law on June 14th. The law allows seniors applying for Medicaid to sell their life insurance policies for significantly larger amounts than the cash surrender value without adversely affecting their eligibility for Medicaid.

While seniors will be able to gain access to their money and pick the long-term facility there is huge opportunities for states to receive savings in Medicaid costs.

Previously seniors applying for Medicaid would surrender their policies in order to become eligible and spend the proceeds. Under the new law, life settlement proceeds would go straight into an account used solely to pay for long-term care. The legislation would not allow seniors to spend their settlement money on frivolous items.

Medicare/Medicaid costs are going to continue to increase as our population ages. These costs are then passed along to the state and federal government who are dealing with reduced revenue and budget cuts.

If the government continues these programs without any significant policy changes there were be significant financial consequences. Currently federal tax revenue is used primarily to pay interest on current debt, Medicare, Medicaid and Social Security. Which means a third of the federal budget will have to be financed in order to pay for other programs as well as defense. Unfortunately, the taxpayers will ultimately pay with increased taxes, reduced services and other economic woos.

Similar legislation is being introduced in New York, California, Florida, Kentucky, Louisiana, Maine and New Jersey.

The Texas legislation would ulimately save Medicaid $20 million a year, according to According to Michael Freedman, a lobbyist for life settlement company Coventry First LLC. If other states follow Texas’ lead the savings could make a serious fiscal impact.

“If life settlements and their potential for cost savings are any indicator, many states may adopt similar legislation for seniors with structured settlements and annuities applying for Medicaid,” said James Goodman, Co-Founder of CBC Settlement Funding.

If similar legislation happened in the annuities market, this could adversely affect Medicaid complaint annuties and their effectiveness.

It is currently unknown of any additional states are considering similar legislation or if states will consider introducing legislation for seniors with annuities.

Introduced in 1965, Medicaid is a health program designed for US citizens and permanent legal residents with low incomes and limited resources. It is the largest source of funding for medical and health related services nationwide and implemented on a state level.

Financial Products 101 Overview

Confused by all the lingo and terms concerning the various financial products? Not quite sure which product is best for you – equipment lease or working capital loan? What are the requirements for each product and are they etched in stone? Read on for a quick lesson on 7 financing products for your business or church.

SBA Loans – Loans guaranteed by the Small Business Association, but provided through your local or national bank. The guarantee is for the lender, not you the borrower. Current approvals (up to $2M) given for purchasing an existing business, partner buyouts, real estate transactions, medical professionals. Borrower generally needs 620+ credit score. Individual lenders determine which transactions they are willing to approve and specific requirements.

Equipment Leasing – Used to acquire equipment considered essential to your business. Must provide vendor estimate/sales quote for requested equipment as funds are forwarded to vendor for payment, not borrower. Borrower can own equipment at end of term or lease new equipment. Two years TIB generally required, some start-ups may qualify. Minimum 620+ credit score generally required. Lease payments can be considered business expense and often used instead of paying large upfront amount to outright purchase equipment.

Sales Leaseback – Current owner of equipment agrees to sell their equipment to lender and make lease payments to secure working capital funds. Equipment must have large secondary market; equipment deemed too specific has limited market and not a good candidate. Equipment should be relatively new, less than 18 months. Borrower must submit equipment listing that details equipment specifics offered for sale to determine value given for leaseback. Each piece should be valued over $25,000. Generally good credit expected on borrower.

Account Receivables Financing – Also called factoring, increasingly popular form of obtaining line of credit, based on your average monthly receivables. Great way of obtaining operating capital without having to wait for your customers to pay. Approvals weigh heavily on the quality of your receivables, not as much on your credit. Receivables generally should average minimum $25,000 per month. Once approved, 60-80% of receivable is advanced to borrower after customer is invoiced. When customer pays factoring lender, the balance of invoice, minus processing fee, is forwarded back to borrower.

Working Capital Loan – This is a true loan product, reported on your credit report. Approvals generally based on overall cash flow availability (average bank balance and average credit card processing) as well as credit history. Credit score expected in 620+ range, average balances in $5,000 range. Approval amounts up to $100,000, repayment up to 12 months. Once approved, loan can be used for almost any purpose. Renewals are possible once initial loans are 80-90% repaid. Rates generally lower than merchant cash advance. Funding usually complete in 7 days.

Merchant Cash Advance – Cash advance is forwarded to borrower based on last 6 months of credit card history. Credit is not as important, but should be 500+ with no recent bankruptcies. Merchant generally must process $8,000 minimum per month – Visa, MC, AMEX and some lenders include debit card processing as well. Cash and check amounts are not affected. This can be an expensive financing product, best for those in need of quick funding, generally with no other options for securing money. Operating capital can be used for almost any purpose. Funding usually complete in 7 days. Seasonal businesses may need to submit 12 months of merchant statements.

Church Financing – equipment programs available for new and established churches. Can fund chairs, pews, audio-visual equipment, almost anything needed for the interior of your church. $5,000 minimum request, requires personal guarantor with 600+ credit. Equipment sales quote from vendor needed as payment is made directly to vendor for equipment. Church addition/construction loans also available, generally require $300,000 minimum loan request. Church financial and bank statements needed for review prior to approval.

Now you have a quick starting point to help determine which financial products best suit your needs. Be sure to be honest and upfront regarding all aspects of your financial situation when discussing and submitting your application. Credible lenders will complete due diligence activities and your request may be declined for lack of full disclosure.