What is a recommendation really worth?

recommendation1For one online retailer, the value of recommendation is clear.

For them, a recommendation is worth $20.

Just given them a friend’s email, and if your friend buys, they get $10 off that purchase and you get $10 of your next purchase (T & Cs applied).

Otherwise, your recommendation is implicitly, not of value.

Thinking on this, several questions follow.

  1. What is the value of recommendation to your business?
  2. Who recommends?
  3. Who do they recommend to?
  4. Do the recipients follow the recommendation?
  5. And if they do, when?
  6. Do recommendations generate business – or just nice warm feelings? And,
  7. If recommendations do generate more business for you, how can you stimulate more of them?

Our Recommender Advantage Monitor taps into the answers of these questions (and more) and can help you establish the value of recommendations for you, and how you can stimulate more of them.

If you want more, useful recommendations, please contact Philip Derham for more details.