DO BRAND ADVOCATES BRING IN SALES REFERRALS?
Referral marketing is one of the most innovative and cost-effective ways to source new business. Your advocates are your product’s biggest supporters and they want to help you succeed. That makes them the best source of referrals you can tap into, at the smallest cost.
Juggling between work, family, friends advocates have a lot on their plate. When implementing a customer referral program, proper incentives are a must of the benefits and stimulation package. To do that think of the reputation and social status that advocates dream of as key drivers to success.
At the end of a program you have new referrals who will grow and become your advocates and refer other customers. You can turn them into advocates by reaching out to them, channeling their thoughts and experiences and pour them into effective content. After that, motivate and reward them accordingly. This is a smart way to earn more business in today’s skeptical world.
Catch your customers at the peak of their delight and give them the necessary tools to share their content. Brand advocacy relies on your current partners, customers and employees as a referral base. It is all about turning them into influencers and eventually into advocates.
You could try some of the following successfully tested techniques by our clients. See which one works best for growing your referral list:
Organizations realized the hidden potential in establishing, nurturing, and maximizing quality marketing relationships. Partners, customers or employees are considered true assets for company growth!
It’s essential to determine appropriate rewards for your advocates. Vouchers, redeemable points, free goods, gift cards, charitable donations, and membership upgrades are just a few. Less money oriented types of rewards are appealing to those advocates who are looking to climb the success ladder by pursuing new professional opportunities.
Deliveroo and Uber are great examples of businesses that have successfully implemented referral programs. The former allows customers to recommend the service to their friends, either through a share button or a link. In a similar way, Uber has personalized invite codes for their customers’ friends to encourage the ride-sharing service.
Key takeaways: brand advocates bring in referral sales
- Get creative when promoting your referral program and make sure to reach out to your customers during their peak of delight.
- Maximize the relationship with your existing customer base through overtime investment. Add a personal touch to your marketing messages and you will get more referrals.
- Effective referral programs bring lower customer acquisition costs and client longevity.